Cyprus is well known for its developed tourism. A business which can benefit from the direct effects of this field is the catering industry. One way to enter into this field is by opening a bar in Cyprus, a type of business which can offer many economic perspectives, but which also requires to obtain a set of documents in order to function properly. Businessmen who are interested to open a company in Cyprus in this sector will need to obtain special permits and licenses, which are issued in this case for the right to sell alcoholic beverages, to hire a band or to organise special events. Our team experts in company formation in Cyprus can offer more details on this matter.
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Register a bar in Cyprus
In order to start the procedure of company formation in Cyprus, the investors should first decide on the legal entity under which they will carry their operations. Most of the businessmen in Cyprus register their companies as limited liability companies, but we mention that Cyprus provides several options in this sense and investors should choose in accordance with their investment plans and budgets.
All companies in Cyprus are required to register with the Registrar of Companies, which will issue the approval on the company’s trading name.
With the assistance of a specialist, the investors should then draw the company’s statutory documents. Later on, the company’s documents mut be registered with the Companies Section of the Department of Registrar of Companies and Official Receiver. The institution will issue the Certificate of Incorporation, thus allowing the company to register with other relevant local authorities for taxation purposes.
Who can receive a license in Cyprus?
Businessmen who want to obtain a license in Cyprus must know that there are several criteria related to this subject. As a general rule, such licenses are awarded to both natural persons and legal entities and our team of specialists in company registration in Cyprus can offer more details on this matter.
In order to receive the license, the applicant should be either a Cypriot citizen or a citizen of the European Union.
At the time in which the application is made, the person should have already received a planning permit and a building permit and, at the same time, the manager of the bar should own an approval issued by the Cyprus Tourism Organisation.
The manager is also required to have specific qualifications in the field (minimum one year of certified experience), as prescribed under the regulations of the Catering and Entertainment Establishments.
Businessmen interested in finding out more details on how to register a Cypriot bar are invited to address to our team of company formation consultants in Cyprus.