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Open a Sports Business in Cyprus

Open a Sports Business in Cyprus

Even though the sports tourism is a relatively new concept in Cyprus, certain studies reveal there is a high potential for its growth. If you would like to open a sports business in Cyprus, our company formation consultants in Cyprus can help you attain all the necessary licenses and qualifications.

Generally, the most popular business entity in the country is the Cyprus Private Company Limited by Shares (LTD).The LTD in Cyprus has no minimum share capital which is required. There can be one to 50 shareholders to open an LTD company in Cyprus.

How to set up a sports company in Cyprus

In order to open such a business entity in this country, it is required to prepare all the needed documents at first. Our Cypriot company formation advisors can assist you in this matter.

To register the LTD with the Company Registrar in Cyprus, the following documents are needed:

•A declaration form;

•The declaration form for the registered address;

•The information about the directors and secretary of the business;

•The Articles of Association of the business.

Requirements to start a gym in Cyprus

The basic requirements which apply to starting a normal business, like obtaining a business license, deciding on a business structure and registering the business name, also apply when setting up a gym in Cyprus.

Certain steps, though, will have to be made to fit the particular needs of the gym. For example, drawing up a business plan will enable you to identify the target market, establish the future plans and answer the particular needs of your gym.

Prior to opening a gym in Cyprus, a location will have to be chosen to fit your plans. Think about the special needs you could expect from the space. Our company registration professionals in Cyprus can help you on this subject, as well.

Also, remind yourself of the future development plans when choosing a location for your gym. Many such businesses start smaller at the beginning and then expand when more successful.

If you need to know more about starting a sports business in Cyprus, please get in touch with our company formation representatives in Cyprus.