FREQUENTLY ASKED QUESTIONS

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I want to set up a company. How much does it cost and how long does it take?

Company set up could take normally around 5 – 10 business days and the cost depends on the type of the company, as different companies have different legal requirements which also affect the price. Please contact us for details.

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Can I choose any name that I want for my company?

There are certain limitations as to a company name, but in most cases the chosen name (for example the person’s name and surname) is acceptable.

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Is it better to be self-employed or to have a company?

This depends on the nature of your business. There are certain advantages of setting up a legal entity, mainly from a legal protection point of view. There are of course other advantages of working as a self-employed person. We are happy to discuss which option is the best for your business.

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What taxes do I have to pay for my company?

Normally in case of incorporated company, that is a legal entity, it is a corporate tax, value added tax and then taxes for your employees and social contributions.

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What taxes do I have to pay as self-employed?

Normally it’s the income tax payable at the end of financial year (June) and value added tax. You are also liable to pay your own social contributions.

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How do I apply for residence permit?

You need to do this at the Immigration Department in the town where you live. Full details about documents required can be found on the government department website.

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How easy is it to purchase a property in Cyprus? What do I need to do?

That depends on your nationality. If you are a EU citizen, it is fairly easy. If you come from a third country, there are few more formalities that you need to comply a the process can take a bit longer. We are happy to advise you about details.

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What is a stop list?

Stop list refers to the list of persons who are not allowed to leave the Republic of Cyprus for various reasons. It can related to both adults, who have entered the country illegally for example, or children who can be put there following court decision to prevent abduction by one of the parents.

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How do I put my child on a stop list?

To put your child on a stop list, certain requirements have to be satisfied and an application has to be made at court. Our lawyers can help you with this.

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What is the standard procedure for divorces in Cyprus?

The procedure is similar to the rest of Europe. An application is made to the Court stating your situation, reason for divorce and all details. Our lawyers have wide experience with divorces and can help you through the process.

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I need to help draft a will. How shall I proceed?

It is advisable to contact a lawyer who will do this for you. There are certain legal requirements for the will to be drafter correctly and a lawyer can advise you of these.