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Virtual Office in Cyprus

Virtual Office in Cyprus

Cyprus is one of the most attractive investments destinations for foreign enterprises and companies. With an efficient tax system and minimum requirements related to the company registration process, Cyprus offers many possibilities in terms of industries investors can operate in.

Speaking about the requirements for opening a company in Cyprus, the legal address which must be local is imposed by the Companies Law in this country. However, a virtual office can successfully be used as a legal address until the business owners decide to change it or find a more suitable location.

Our company formation agents in Cyprus offer virtual office services tailored to the clients’ requirements.

Virtual office services offered by our Cyprus company formation agents

If you decide to buy a virtual office package from our local advisors, you can benefit from the following services:

  1. an address in one of the top business centers located in the Cypriot city of your choice; you con use this address in order to register your company in Cyprus and our Cypriot company formation agents can take care of all the administrative and legal aspects;
  2. a local and dedicated phone number which can comprise additional services such as fax and call forwarding;
  3. voicemail services – we can take messages from potential clients or business partners and store them or forward them to you;
  4. mail services – you can set this address as a contact point for clients and partners to send any document or other mail which will be collected and stored here;
  5. bank statement collection services – all the statements can be received and stored at the local address in Cyprus;
  6. meeting room services – these are available on request and with prior notification.
Quick Facts  
  Address availability (YES/NO) Yes, a Cypriot virtual office can be used as an address by companies

 

Local phone number (YES/NO)

 

YES, a local phone number is in the standard virtual
office package in Cyprus

Company registered address use possibility (YES/NO)

 

YES, this is one of the main uses of a virtual office
Mail collection and forwarding option (YES/NO)

YES, available on request

Meeting room availability (YES/NO) YES, a few days advance booking is advised
Virtual assistant option (YES/NO)

YES, a virtual assistant is available on demand

Uses of a virtual office The virtual office can be primarily used as a legal address for business registration, however, it can also be used as a secondary address or contact point by companies and entrepreneurs

 

Documents required to acquire the service Contract between the provider and client
Customized services availability (YES/NO) YES, the contract can be drafted as to include
customized services
Availability in one or more cities YES, a virtual office is available in various cities, among which Limassol, Larnaca, Nicosia
Timeframe to acquire the service (approx.) A few business days
Employee required NO
Availability of other services YES, depending on client’s needs, bank account statement collection and other services are available
Minimum rental period Minimum rental period starts at one month
Advantages Minimum documentation required to obtain, personalized services available (starting with the rental period and types of facilities included), possibility to opt in and out for various services, several ranges of prices available

How to buy a virtual office in Cyprus

With the ability to set up a Cypriot virtual office in 2 or 3 days (or quicker, depending on how soon you find the desired option). This is one of the best options for those looking to start a business as soon as possible. You will still need to go through the rest of the company formation process, but not having to deal with realtors will make the process much easier.

A virtual office in a Cypriot city comes with a variety of features, which is what makes it so effective: you can select the package you require and later make changes if you deem them necessary.

The virtual office can be obtained through a service contract that you will be able to use once you have signed it. All you have to do is submit the contract with the Trade Register, as it will acknowledge that you have a physical address to which they can send official documents. It will also be used to attest to its validity in accordance with Company Law.

The cost of a virtual office in any part of the country is quite low when compared to traditional rent. This is possible because most realtors build office buildings with modern services that imply mobility and flexibility.

Our company formation officers are at your service if you decide to open a business in Cyprus and incorporate it by using a virtual office.

We also invite you to read about our virtual office services in Cyprus in the scheme below:

Multiple uses of a Cyprus-based virtual office

At first, virtual offices were used by those who wanted simple office solutions that would enable them to open companies in Cyprus. Now, things have evolved, and such a service can be used for various purposes. Moreover, its flexibility makes it accessible to a wider range of businesspersons, including single entrepreneurs and companies.

An entrepreneur can use a virtual office in Cyprus for a variety of purposes. However, the main one remains the same: to provide a flexible solution to those who want to be connected to the business environment in cities of interest.

A virtual office in any Cypriot city is the most cost-effective alternative to rental or lease agreements. From this point of view, the money directed to renting or leasing traditional office space can be directed to your company, while you pay a simple fee to use this service in one of these buildings without having to worry about employees or maintenance costs.

Nowadays, having a virtual office can also imply hiring a virtual assistant or deploying an employee to the office, however, this last option is rarely employed.

How much does it cost to buy a Cypriot virtual office?

With a wide variety of options, the price range for a virtual office in Cyprus is quite large. The cost of such a service depends on the following factors:

  • its location;
  • the duration of the contract;
  • the services and other facilities attached to the office;
  • the city in which the service is acquired.

The price of a virtual office can start at around 100 euros and can exceed 200 euros per month, however, the longer the period of the contract, the cheaper its cost can be.

Most virtual office services are available in large business centers in Limassol, Nicosia, and Larnaca. We invite you to get in touch with us for details on such locations.

The advantages of a virtual office in Cyprus

Our clients usually try to understand what the benefits of a virtual office are compared to a traditional office. Our Cyprus company formation experts created the list below which should help you understand the uses and advantages of having a virtual office in Cyprus:

  • the virtual office can be used as a local address for your future company or as a contact point for foreign companies which first want to test the Cypriot market;
  • the costs related to the maintenance of the virtual office are not your responsibility;
  • you can decide whether you want to have an employee at the virtual office or not;
  • all virtual offices come with the latest high-tech equipment which can be tailored to your needs;
  • all virtual office services offered by our company registration consultants are customized.

Foreign businessmen can find out more details on the virtual office in Cyprus from this short video:

Cyprus’ economic recovery in the following years

After the rough times of 2019 and 2020, the Cypriot economy is expected to stabilize in the following years, according to the following news:

  • 2022 is expected to bring a 3.6% economic growth;
  • for 2023, projections of the Central Bank indicate a 3.7% growth;
  • for 2024, the economy is expected to increase by 3.8%.

For a personalized virtual office offer, please contact our specialists in company formation in Cyprus. We can also assist if you want to set up a company in Cyprus.