All companies that wish to relocate or expand their activities in Cyprus must apply to the Business Facilitation Unit (BFU) of the Ministry of Energy, Commerce and Industry. In the case where the applicant wishes to incorporate a new Cyprus Company, the procedure for the Cyprus Company Incorporation shall precede the registration with the BFU.
The application to the BFU starts with the declaration of the company’s interest to expand its activities or its interest to relocate in Cyprus, with a synopsis description of the company’s company’s main activities, its history, plans, number of staff, jurisdictions of operations and expansion plans.
In the case of a new company, a 5-year business plan with goals and strategies which aim for the company’s profitability and growth should also be submitted. It is worth mentioning that the BFU completes the registration process in a very timely manner. From the date of submitting all the required documents to the BFU, the registration is completed within 7 working days.
Where a company has been registered to the Civil Registry and Migration Department already, the above application process does not apply, since the BFU has already processed the information and the BFU policy applies automatically to the company.
For information on the Incorporation of a new Cyprus Company please click below