The province of Paphos is the ideal place for someone to transfer or establish his place of business or through which to manage international business activities. The region offers a welcoming environment and the suitable infrastructure in which a modern business can operate. In Pafos there are available modern office spaces and trained staff of high education. Cypriot and foreign international banks maintain branches in Paphos. High level legal expertise, consultancy, accounting and audit services are available to enterprises in Paphos from local and international firms operating in the region. The secure environment of Paphos, the numerous activities that guests and Paphos residents can enjoy, the presence of high quality English speaking schools and university faculties and a favourable tax environment, create the ideal conditions for the establishment of both business and families.

Below we cite the available options of legal entities in Cyprus and the ways to do business in Paphos – Cyprus. In the section “Invest in Paphos” you can download the list of professionals – members of the Chamber – who can help you build your business in Paphos – Cyprus:

Types of Entities in Cyprus
– Companies Limited by shares
• Private
• Public
– Company Limited by guarantee
– European Company (Societas Europaea)
– Branches (act as such a legal entity)
– Partnerships
Reference shall be made to Business/ Trade names which all of the above entities may register and trade with

Mergers and Re-organisations
General Provisions
– Two or more existing companies be merged between themselves
– Two or more companies be merged with a new establishment (for this purpose Company)
Procedure
– Preparation of restructuring/ Merger Plan
– Approval of the plan by the shareholders and Directors
– Consent from the Companies Creditors
– Obtaining of Court Order
– Filing with the Registrar the Court Order and any other documents mentioned in the Order
Note: It is suggested that before proceeding with the merger, this possibility be examined from a Cyprus Tax point of view.

Re-domiciliation
In 28.7.2006 a new Law has been enacted in Cyprus, as an amendment to the Companies’ Law Cap.113, by which:
– Foreign Companies can be re-domiciled in Cyprus
– Cyprus registered Companies can be re-domiciled abroad