setting up buisness

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
23/06/2007 00:26

How difficult is it for non-Cypriots to start up their own business? Do you by law have to employ Turkish Cypriots? Is it difficult to get a work permit?

wearytravellers



Joined: 27/04/2007
Posts: 249

Message Posted:
23/06/2007 04:24

Bradus: I would suggest you make an enquiry with a decent Lawyer/Accountant. I would think with my limited knowledge, it would depend on what type of business you were thinking of getting into.



Soul Trader (ltd company) would not be too much of a problem, and would require minimum capital to start up.



If you wanted to get into anything bigger, I think you would need a local partner and a 100,000 USD as a deposit (you only need to deposit it for around a month or so)



I don't want to continue as I am not in the remotest qualified, but, I definetly advise you to seek professional advice.



What were you thinking of doing ?? There are appears to be plenty of oppurtunities in Cyprus, but I guess you need to network (Locally) and be very committed and focused on what you would like to do.



The idea of opening a bar, bistro or whatever, is not as easy as it may sound. What skills do you possess, what experiences do you have that can be mapped to the business you would like ? Are you IT orientated, a people person, do you have good planning and organisational traits, all of these things help to define what you could do.



Good luck and whatever you do, enjoy doing it !!

desert rose


Joined: 18/06/2007
Posts: 64

Message Posted:
23/06/2007 08:00

Research, research, research!!!!



Which is hard going. Contact the TRNC office in london they give out some good info. Ive been looking into this for nearly a year and im still learning new things.....



If setting up a ltd company you do not need a cyp partner.



Get a good solicitor and good luck!