We’ve created a sample checklist with the most important steps to take before launching your business in Cyprus:
- Decide on the aim of your business and its legal structure (e.g. limited liability company, limited by guarantee, partnership);
- Build a business model and a financial plan;
- Build your marketing strategy;
- Incorporate your business model, financial plan, marketing strategy and all other relevant information into your business plan;
- Identify financing resources and opportunities;
- Choose your premises (physical address);
- Choose a name for your entity;
- Incorporate as a legal entity;
- Register with the Tax Department;
- Register for VAT (if obligation exists);
- Register for VIES (if obligation exists – the VAT exemption when trading with other EU countries);
- Register at the Social Insurance Services;
- Register any intellectual property rights;
- Recruit your team of professionals;
- Start promoting your business.