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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Founded in 2016
English
PETROS YIANNAKAS & ASSOCIATES LLC, based in Limassol, Cyprus, offers a comprehensive range of legal services, specializing in corporate and commercial law, mergers and acquisitions, international tax planning, and shipping law. The firm has extensive experience assisting clients with financial...

English
Anastasis Neophytou & Associates LLC, based in Limassol, Cyprus, offers comprehensive legal services across both contentious and non-contentious matters. The firm's practice areas encompass administrative and public law, banking and financial services, corporate and commercial law, immigration law,...
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...

Founded in 1981
40 people in their team
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...

Founded in 2017
English
Hadjiloizou, Hadjinikolaou & Co LLC is a boutique law firm based in Limassol, Cyprus, dedicated to delivering high-quality legal services tailored to each client's unique needs. The firm emphasizes a client-centric approach, ensuring that every individual or entity receives personalized attention...

Founded in 2023
English
Eleftheriou & Eleftheriou LLC, established in 2023 by partners Lefteris D. Eleftheriou and Georgia D. Eleftheriou, is a boutique law firm based in Limassol, Cyprus. The firm offers a comprehensive range of legal services, including litigation and alternative dispute resolution, corporate and...
AAS-Law
Limassol, Cyprus

English
AAS-Law, based in Cyprus, offers a comprehensive range of legal services tailored to meet the diverse needs of its clients. The firm's areas of expertise include Alternative Dispute Resolution, Litigation, Property Law, and Commercial Law, among others. This breadth of services enables AAS-Law to...

Founded in 2019
English
Afxentis Zemenides Financial Services Ltd, operating as A. Zemenides & Co., is a boutique firm based in Limassol, Cyprus, specializing in financial consultancy. The firm offers a comprehensive suite of services, including audit, tax advisory, fiduciary services, and business consulting, tailored to...
Chambers & Co

Chambers & Co

1 hour Free Consultation
Limassol, Cyprus

Founded in 1996
8 people in their team
English
Greek
Chambers & Co  has grown rapidly since its inception in 1996 and is now one of the leading international law firms in Cyprus.The Firm’s policy is to deliver expert legal services in an environment that encourages professionalism, confidence and trust. We have built a...
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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.