Guidelines for setting up a business in Cyprus

In recent years, the growth of Cyprus has been exceptional. Since joining the Eurozone on January 1, 2008, the economy ceased to depend mainly on agriculture and became heavily dependent on the services, real estate, and tourism sectors. All this generated a vortex that continues to this day, giving an extraordinary dynamism to the island's main cities. People from different countries have come to Cyprus intending to generate business.

In this sense, the official government web page has a special section for those who need guidance when setting up a business. On the one hand, it deals with everything related to the New company setup procedure, and on the other to the financing assistance. Plan your business requires a series of steps, very well explained on the website https://www.businessincyprus.gov.cy/. It is critical information to delineate the different stages in the creation and start-up of a company.

The starting point is developing a business plan, which we will discuss in the next paragraph. Your company's development and positioning require an oiled mechanism to reach the proposed objective successfully. For now, here are some recommendations that will be useful when deciding on an investment. Plan your business

The Business Plan serves as a company manual. This guide allows us to project into the future what we want to do. In addition, it is a crucial tool to access the financing that we will need for the start-up. Notably, it can come from banks and even government grants.

At the same time, it allows us to attract the attention of private investors if they are interested in our project. A successful Business Plan will help us identify tools and methods to achieve our main objective: to maximize our profits. After all, that is what starting a business is all about. The strategy must be present throughout the development of our plan.

Without a process, there is no plan worth it since it allows us to define better the use of the information that we will use to describe our proposal. As we said, a business plan must allow us, in addition to organizing ourselves, to be able to obtain financing and then start the project. As for financing, it can be borrowed from banks or investment funds, through national or international grants (for example, from the European Union), and directly through private investment. A combination of all of them can also be achieved.

The important thing is that the business plan allows us to show the probability of success that our venture will have. Other issues to consider As different specialists point out, the Cypriot government has taken a series of brilliant measures that have made it possible to generate an attractive image of the island at the time of investments. Thus, in recent years there have been thousands of investors from different parts of the world.

And on different scales: from small investors to large investors, especially in real estate activities. The implementation of special programs for foreign investors has enhanced this phenomenon, which Europe has been talking about for years. In short, it is worth adding that the unique Cypriot tax program offers total freedom from taxes on income via dividends and national or foreign interests. There is a very particular fact: it does not matter if this income is introduced in the country or not.

Before, to take advantage of specific incentive programs, you had to move to Cyprus to live. It was not just about acquiring property and nothing else. This was changing over time. And the government understood that in total globalization, no one could be forced to spend a specific time in a place.

Thus, it is only necessary to stay a minimum of two months a year on the island to maintain residence. Cyprus is an island that invites the world to be part of it. And it has a lot to offer. It is only about knowing a little more about the facilities and the different areas to invest in and develop successful companies.