Setting up a business in Cyprus

[julie evanson]

How easy is was it too set up a salon in Paphos, we are considering a move over, a little concerned as have a thriving business here, but desperate for a big change, have bought in Peyia all ready, but as a holiday home and love it more and more, would appreciate any help at all.

[BabsM]

I have moved this post to a new thread as I think it deserves a thread of its own.

Good luck
Babs

[julie evanson]

How do i receive messages and a new thread, sorry but am new to this and not at all sure what to do,

[Veronica]

Originally Posted by julie evanson

How do i receive messages and a new thread, sorry but am new to this and not at all sure what to do,

Hi Julie, welcome to the forum.
To start a new thread just go to the home page of the Cyprus forum and click on Post new thread.
As a new user you cannot receive or send private messages until you have made 5 good postings.

Regards Veronica

[BabsM]

Hi Julie,
Don't worry, I have already moved your message to start a new thread. If you look at the list of subjects, yours is now at the top of the list.

Hopefully, people who have started or looked into how to start a new business in Cyprus will post replies for you

Regards
Babs

[daisydaisy]

Setting up a business is not as easy as it appears.
There are rules and costs involved, around 1100 euros to register, and then if you are thinking of employing people, you have to remember that emp contributions are not only 6.3% but also 8% holiday fees and a contribution to other aspects. in effect it runs to around 18% as far as i have been able to check
There are several sites on social insurance in Cyprus and minimum wages
When registering a Company / Business, you may not get the name you want so think about this before you go ahead with the Business.
I know a very good UK accountant who also does the legwork for Business registration if you need assistance in this.

good luck

Daisy

[daisydaisy]

Please Veronica,
I would be grateful for the name of the solicitor you used,
Was the cost comparative with what i had been given?
Daisy

[aysan]

Originally Posted by daisydaisy

Setting up a business is not as easy as it appears.
There are rules and costs involved, around 1100 euros to register, and then if you are thinking of employing people, you have to remember that emp contributions are not only 6.3% but also 8% holiday fees and a contribution to other aspects. in effect it runs to around 18% as far as i have been able to check
There are several sites on social insurance in Cyprus and minimum wages
When registering a Company / Business, you may not get the name you want so think about this before you go ahead with the Business.
I know a very good UK accountant who also does the legwork for Business registration if you need assistance in this.

good luck

Daisy

Hello Daisy , I will appreciate if you let me know this assistence name and email ?

By the way which Cyprus are you talking about , North or south ?

Because I am interested in South cyprus ?

let me know as soon as you can please ?

sincerley Mahmood

[The Reillys]

Originally Posted by julie evanson

How easy is was it too set up a salon in Paphos, we are considering a move over, a little concerned as have a thriving business here, but desperate for a big change, have bought in Peyia all ready, but as a holiday home and love it more and more, would appreciate any help at all.

Hi Julie
We live in Peyia permanently and as far as I know, there is only one hairdressers here, if that is the type of salon you wish to open. You may like to consider doing a bit of mobile hairdressing as Peyia is full of Brits. It is hard to get going with any business anyway, so make sure you don't move here on a shoestring. You must have patience and tenacity by the bucketload, but it can be done. good luck

[shalford]

Originally Posted by julie evanson

How easy is was it too set up a salon in Paphos, we are considering a move over, a little concerned as have a thriving business here, but desperate for a big change, have bought in Peyia all ready, but as a holiday home and love it more and more, would appreciate any help at all.

Hi Julie,

since 2004 when Cyprus adopted the Euro the cost of living has gone up and up and as a result the tourists, in their thousands, are staying away. At this time everybody here is suffering. The building industry is come to stop and many people are without work. English people are leaving because it is so bad.