Cyprus is a very appealing business destination thanks to the taxation system which enables foreign investors to open companies under very advantageous conditions. The list of industries these can operate in is also quite extensive, which is why they can choose in accordance with their area of expertise or knowledge.
If you want to invest in Cyprus you should know that one of the most profitable economic sectors of Cyprus is the food and beverages one which is connected to the sectors, such as tourism and hospitality. Those who do not want to spend large amounts of money by opening restaurants can set up bakery shops which have proven to be quite profitable in the last few years.
If you want to open a bakery in Cyprus, you will need to comply with the requirements imposed under the Catering and Entertainment Establishment Act. Our Cyprus company formation consultants can help foreign investors who want to establish their own bakery shops in this country.
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Registering a company for setting up a bakery in Cyprus
The first and most important step related to starting a bakery in Cyprus is registering a company. In order to do that, the investor must first decide on the type of structure they will use, choose a suitable location where they can have enough visibility for the clients, invest in a marketing and advertising plan. They must also secure distributors for their products.
With respect to the incorporation of the company with the Trade Register, our local consultants who specialize in company formation in Cyprus can help with:
- – preparing the necessary documentation required by the Trade Register;
- – drafting, notarizing and translating any documents related to the opening of the company;
- – applying for the necessary tax identification numbers with the local tax office;
- – advise in applying for the catering establishment license with the local authorities.
Setting up a bakery in Cyprus is not complicated, as long as all the steps related to the registration and licensing of the company are respected.
Who can apply for the license for operating a bakery in Cyprus?
Under the Catering and Entertainment Establishment Regulations, both natural persons and companies can obtain a license to operate in the restaurant sector, including for opening a bakery shop. These can be residents of Cyprus or of EU countries. In the case of foreigners from non-EU countries, a residence permit must be obtained prior to starting the business.
It should be noted that the license for operating the bakery shop must be obtained by the company director who must be approved by the Tourism Organization in Cyprus.
Another requirement when opening a Cypriot bakery is to obtain a planning and building permit which are issued by the mayor’s office in the city where the company will operate. The shop will also need to comply with the health and hygiene regulations imposed in this country.
Steps for opening the bakery shop in Cyprus
Once the legal structure of the bakery was registered and the planning and building permits have been obtained, the company’s representative must submit the following documents with the Tourism Organization in order to be allowed to start operating:
- – copies after the rental contract or property deed of the building;
- – the personal information of the bakery’s owner (ID or passport);
- – a declaration related to the opening of the bakery signed by the owner;
- – the personal information of the establishment’s director and his or her credentials;
- – the certificate issued by the Public Health Authority for the food establishment;
- – a copy of residence or employment visa in the case of non-EU citizens working in the bakery.
In case the bakery is opened by another company, information about the corporate owner must be submitted. Among these, copies of the company’s Articles of Association, Registration Certificate, as well as information about the directors, secretary and the legal address of the company must be submitted.
The bakery will also undergo an inspection from the Tourism Organization and representatives of the Public Health Office.
After reviewing the documentation, the operator certificate will be issued in maximum 60 days.
It is also possible for a foreign citizen or company to take over an existing bakery by filing a request to change the operator with the Companies Register.
Starting a bakery in Cyprus can be a very good idea in large cities or tourist destinations thanks to the great number of people working, respectively visiting the country.
For guidance in opening a bakery shop in Cyprus, please contact us. Our company formation consultants in Cyprus have the necessary skills and expertise to help investors open any type of business here.