Guidance

After Incorporation

Registration at the Tax Department

Every partnership is obliged, within sixty (60) days from the date of its incorporation, to apply for Taxpayer’s registration with the Tax Department and to obtain a tax number.

At the same time, any partnership residing in the Republic of Cyprus, that has made taxable supplies of goods and services within the last twelve (12) consecutive months or will be making such taxable supplies of goods and services over the amount of €15.600 in the next thirty (30) days, is required to submit a supplementary form for VAT Registration.

Registration at the Social Insurance Services

Every employer is required to register with the Social Insurance Services by submitting the application form for employer registration. When the employer has branches in different districts or deals with more than one economic activities, he/she must register separately for each district or activity.

Registration of Trademark

You are advised to register your business' trademark with the Intellectual and Industrial Property Section so that you can differentiate your products and services in the market.

Compliance

The partnership has an obligation to inform the Registrar of Companies of any changes to partnership's particulars, such as change of name, change of partners’ details, nature of business etc.

At the same time, each partnership, whose sole or all of its general partners are companies or partnerships, must prepare its annual return and submit it to the Registrar of Companies, along with its the financial statements. The annual return is prepared within six (6) months from the end of the financial year.

Additionally, at the end of each tax year, the partnership must prepare accounts in accordance with accepted accounting principles which are audited by a certified person. Based on the audited financial statements, each partner submits its tax return to the Tax Department.