One-Stop Shop 15-7

Setting up
a business
…in a quick and
“The investor will have
to be in contact
with one single point
to obtain almost all
the required permits
in one streamlined
coordinated process”
Acceleration of Procedures
for Setting- up a Business
simple way
Working hours:
Monday - Friday, from
08:00 to 13:30
Thursday, from
15:00 to 17:30
One-Stop Shop
One-Stop Shop
Ministry of Commerce, Industry and Tourism
13-15 Andreas Araouzos Street
1421 Nicosia
Tel.: 22 409328 / 22 409345
Fax no.: 22 409432
E-mail: [email protected]
www.investincyprus.gov.cy
…Quick and simple
REPUBLIC OF CYPRUS
One - Stop Shop
simplify the process of setting up a
Acceleration of Procedures
for Setting-up a Business
business. Consequently, from now on the
investor will have to be in contact with one
single point to obtain almost all the
required permits in one streamlined
One of the primary objectives of the
Government of Cyprus is to foster the
infusion of foreign investments in all sectors
of the economy.
coordinated process rather than having to
go through different government services.
This will reduce considerably the average
time for setting up a business with the
objective of being able to do this within
In light of the intensification of competition
and especially in conjunction with the
accession of Cyprus to the European Union,
the Government has decided to pursue a
number of measures in order to further
enhance and simplify the business and
investment environment. Towards this end,
and in its effort to encourage and facilitate
investments, the Government has reduced
the level of bureaucratic intervention and
under the auspices of the Ministry of
Commerce, Industry and Tourism, has set
up in Nicosia an One-Stop Shop for local and
foreign based companies.
one week.
A wide range of services are
offered to the investors including
the following:
➤
Provision of information/guidance to
potential
investors
and
aftercare
service to existing investors
➤
Registration of a company
➤
VAT registration
➤
Income Tax registration
➤
Registration with the Social Insurance
Fund and Employers Registry
The Government has adopted the institution
of the One-Stop Shop to bypass the existing
procedures where these are dysfunctional.
The aim was to facilitate, accelerate and
➤
Application for the issue of residence
and work permits.