Best New Business Formation Lawyers in Limassol

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A. KOULOUNDI & CO. LLC
Limassol, Cyprus

Founded in 2025
5 people in their team
English
Greek
At A. Kouloundi & Co. LLC, we are driven by a client-first philosophy built on experience, innovation, and excellence. With nearly 20 years of trusted legal counsel in Cyprus, founder Anna Kouloundi and her team offer strategic guidance to high-net-worth individuals, family offices,...
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CPM - Limassol
Limassol, Cyprus

Founded in 1996
English
CPM - Limassol, a division of Cyproman Services Ltd, has been a prominent provider of fiduciary and corporate administration services in Cyprus since its establishment in 1996. The firm offers a comprehensive suite of services, including company registration, corporate administration, secretarial...
NICOLAS EROTOCRITOU & CO LLC
Limassol, Cyprus

Founded in 2020
English
NICOLAS EROTOCRITOU & CO LLC, founded in 2020, is a distinguished law firm based in Limassol, Cyprus. The firm offers tailored solutions for forming, maintaining, and administering Cyprus legal entities and international corporate structures. Specializing in corporate law, tax planning, and...
L. Papaphilippou & Co LLC
Limassol, Cyprus

Founded in 1963
English
L. Papaphilippou & Co LLC, established in 1963 by Loukis Papaphilippou, has evolved into one of Cyprus's leading international law firms. Through strategic mergers and a commitment to nurturing talent from within, the firm has expanded significantly, now comprising over 70 highly qualified...
Harneys Cyprus
Limassol, Cyprus

Founded in 2009
English
Harneys Cyprus is a distinguished law firm renowned for its expertise in corporate law, investment funds, financial services regulation, and litigation. The firm has consistently achieved top-tier rankings, maintaining Tier 1 status in Banking & Finance and Commercial, Corporate, and M&A practices,...

Founded in 2017
English
Christofinis - Mouzouridou & Co. LLC, located in the heart of Limassol, Cyprus, is a well-established law firm offering comprehensive legal services to both domestic and international clients. The firm's experienced attorneys specialize in a wide array of practice areas, including Civil and...
Limassol, Cyprus

Founded in 2023
English
Ioannou & Sharpe LLC, established in 2023, is a Limassol-based law firm specializing in commercial, corporate, real estate, injury and accident law, and civil litigation. The firm is recognized for delivering tailored legal solutions and proactive strategies, emphasizing open communication and...
Limassol, Cyprus

Founded in 1966
English
C.P. Erotocritou & Co LLC, established in 1966 by Mr. Costas Erotocritou, is a prominent law firm in Cyprus with offices in Limassol and Nicosia. The firm offers a comprehensive range of legal services, including company formation, shipping law, energy, corporate and commercial law, banking and...

Founded in 2009
English
Established in 2009 by Mr. Panos Alexandrou, Alexandrou Corporate Services Ltd is a regulated Cyprus-based firm offering a comprehensive suite of corporate, financial, and legal solutions. The firm's services encompass onshore and offshore company formation, nominee and trustee services, bank...
Chrysostomides
Limassol, Cyprus

Founded in 1981
English
Chrysostomides is one of Cyprus's most established law firms, offering comprehensive legal services across a broad spectrum of practice areas. With decades of proven experience, the firm is known for its deep expertise in corporate law, banking and finance, dispute resolution, and commercial...
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About New Business Formation Law in Limassum, Cyprus

Starting a new business in Limassol, Cyprus requires careful navigation of laws that govern business operations and tax compliance, including registration, licensing, permits and corporate tax. As part of the European Union, Cyprus also enforces EU business regulations. Cyprus is known for its favorable tax environment, with a corporate tax rate of 12.5%, one of the lowest in the EU. Yet, new businesses must follow specific procedures to enjoy these benefits and prevent legal complications.

Why You May Need a Lawyer

If you're starting a new business in Limassol, having a lawyer to guide you through the process ensures your business complies with all local and national laws. Lawyers can assist in various legal aspects including the drafting of business contracts and agreements, settling disputes, intellectual property protection, and ensuring compliance with tax requirements. A lawyer is especially vital in handling complex procedures like obtaining business licenses and permits, and to ensure that you're aware of any changes in Cyprus’s business legislation.

Local Laws Overview

Business formation in Limassol falls under the Cypriot Company Law Cap.113, which aligns with EU company law. Businesses may be established as sole proprietorships, partnerships, or companies, each with individual legal and tax implications. To register a company, it is required to submit a memorandum and articles of association, details of directors and shareholders, and the company's registered office address. Cyprus applies a 12.5% corporate tax rate, and businesses must register for VAT if their taxable turnover exceeds €15,600 per annum. There are also regulations for employers to provide safe and healthy working conditions, respecting labor laws in terms of hours, wages and welfare of the employees.

Frequently Asked Questions

What type of business structure should I choose?

This decision depends on your business needs and objectives. You should consider factors such as the level of control you want to have, your vulnerability to lawsuits, tax implications, the need for capital, and future needs. Consulting a legal advisor can provide valuable insights.

What are the key steps to setting up a business in Limassol?

Key steps range from deciding on a business structure, naming and registering your business, understanding tax obligations, obtaining necessary licenses and permits, and understanding your responsibilities as an employer.

What tax responsibilities will my business have?

All businesses are required to register with the Cyprus Tax Department and are obliged to pay a Corporation Tax of 12.5%. In addition, any business with a taxable turnover exceeding €15,600 should register for VAT.

Do I need to apply for any permits and licenses?

Yes, depending on the nature of your business, you may need to apply for specific licenses and permits as prescribed by Cypriot and local Limassol laws. This could range from safety permits to professional licenses.

Can a foreigner own a business in Limassol?

Yes. Cyprus allows 100% foreign ownership in companies without any restrictions. However, non-EU citizens will need to obtain a residence permit to live and work in Cyprus.

Additional Resources

The Department of Registrar of Companies and Official Receiver is a valuable resource that provides updated information on company law, business registration forms and guidelines. The Chamber of Commerce and Industry in Limassum offers assistance and advice to new businesses on local market conditions and business networking. Also, The Cyprus Investment Promotion Agency provides a wealth of information on starting a business, including details on business structures, tax system, and licenses and permits.

Next Steps

If you require legal assistance for new business formation in Limassol, it's advisable to hire a local lawyer specialized in this field. They can provide guidance, ensure all legal documents are correctly prepared and filed, and keep your business in compliance with the law. This investment could prevent you from making costly legal mistakes down the line and equip your business for successful operation.

Lawzana helps you find the best lawyers and law firms in Limassol through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including New Business Formation, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Limassol, Cyprus - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.