What are the steps to start a business in Cyprus?

The main steps are to decide your aim and legal structure, build a business model, financial plan and marketing strategy, choose premises and an entity name, and incorporate as a legal entity through the Department of Registrar of Companies and Intellectual Property. You then register with the Tax Department, register for VAT, register for VIES (for EU VAT trading), register at Social Insurance Services, and you can register intellectual property rights. A company's memorandum and articles must be drafted by a legal professional practising in the Republic of Cyprus using form ΗΕ1, and you can check company names at www.companies.gov.cy, trademarks at intellectualproperty.gov.cy and .cy domains at registry.nic.cy. Self-employed persons must register for VAT if turnover exceeds €15,600 in any 12-month period, pay social insurance at 16.6% of estimated earnings, and the standard VAT rate is 19% (with reduced rates of 9%, 5% or 0%), while start-ups keep start-up benefits for their first five years. Because thresholds and procedures change, treat the official businessincyprus.gov.cy page as authoritative.