Сyprus is one of the top destinations for seamless entrepreneurship and company formation, with a business-friendly environment and attractive tax system, offering owners and investors many development opportunities.
Companies registered in Cyprus act under Company Law, modelled on the English Companies Act of 1948. Throughout the years, amendments were added to align it with European standards.
There are three primary companies types to set up in Cyprus:
- Limited Company (LTD). The number of shareholders can be between one to fifty. The company must have at least one director and a secretary.
- Branch. It is a foreign company responsible for all liabilities of a Cypriot branch.
It should be registered in the Registrar of Companies.
- general partnership: between two to twenty members
- limited partnership: at least one partner with unlimited liability
- required to register in the Registrar of Companies and Cyprus tax department