Guidance

After the establishment of place of business

Registration at the Tax Department

Every overseas company is obliged, within sixty (60) days from the date of its registration, to submit a relevant notice for registration with the Tax Department and to obtain a tax number.

At the same time, any natural or legal person which is residing in the Republic of Cyprus, that has made taxable supplies of goods and services within last twelve (12) consecutive months or will be making such taxable supplies of goods and services over the amount of €15.600, in the next thirty (30) days, is required to submit a supplementary form for VAT registration.

Registration at the Social Insurance Services

Every employer is required to register with the Social Insurance Services by submitting the application form for employer registration. When the employer has branches in different districts or deals with more than one economic activities,he/she must register separately for each district or activity.

Registration of Trademark

You are advised to register your business trademark with the Intellectual and Industrial Property Section so that you can differentiate your products and services in the market.

Corporate Compliance

An overseas company maintaining a place of business in the Republic of Cyprus and every officer of the company, has an obligation to inform the Registrar of Companies of any changes to the company's particulars, such as a change of name, change of directors, authorised persons, change of address of the place of business in the Republic of Cyprus, amendment of its article of association, regulations or other constitutional documents of the overseas company, etc.

At the same time, once every calendar year, the overseas company must submit to the registrar of companies its financial statements.

At the end of each tax year, the overseas company must prepare audited financial statements and submit them along with tax return to the Tax Department.

Additionally, it should be noted that every overseas company is obliged to pay the annual fee equal to three hundred and fifty euros (€350), by the 30th of June of each year.