Amazon is an international e-commerce business which provides online retail, computing services, electronics, digital content and other local services like daily deals and groceries. As made public by recent sector data, Amazon.com is the leading e-retailer in the U.S., with around USD 178 billion in net sales in 2017. In this article, our company formation agents in Cyprus explain different aspects in connection with setting up an Amazon store in Cyprus.
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Setting up a company in Cyprus
The most popular legal entity in Cyprus is the limited liability company (LLC).
To open such a business vehicle in this country, the necessary documents have to be prepared. Our Cypriot company formation advisors can help you gather these documents.
Next, the entrepreneur has to propose a business name and submit an application for approval with the Companies Registrar.
After the business name approval, the business owner can proceed with gathering the documents required for the company registration in Cyprus.
The Companies Registrar will require the following documentation for incorporating an LLC in Cyprus:
•A declaration form;
•A declaration form from the registered address;
•Information on the business directors and secretary;
•The Articles of Association.
We can assist you to open such a company in Cyprus, upon request.
Opening a merchant account in Cyprus
In order to set up an Amazon store in Cyprus, the business has to have a merchant account.
A merchant account is an account with a bank which enables the business to accept credit and debit card payments.
To open such an account in this country, follow these steps:
•Identify merchant banks with free account offers;
•Research the results with reputable bank names;
•Compare the different offers;
•Make a list of the most advantageous offers;
•Verify consumer complaints for the names on your list;
•Decide on three banks;
•Choose the one you feel more comfortable with;
•Proceed with contacting them and opening the merchant account.
In case you need to know more about how to set up an Amazon store in Cyprus, or for help in setting up a company in Cyprus, please feel free to get in touch with us.