When setting up a Cypriot company the most important prerequisite for the formation of a company and for tax recognition is the existence of a permanent establishment in Cyprus. If there is no permanent establishment in Cyprus, no business expenses will be recognized when invoicing customers.
When you have a company you need an official address for your business. And depending on the nature of your company and your company setup a legal setup requires a certain amount of substance for your company.
This is very possible with Hügge Consult as we also operate the coolest coworking space in Cyprus with both regular office space and private serviced offices - Hügge Space.
Here you get actual office space that you can use when you are in Cyprus along with other required substances like a sign by the door or telephone line and of course also virtual services as mail forwarding service.
Business address and virtual office setup at Hügge Consult is € 1.500 + VAT per year.
If you plan on residing in Cyprus all year-round with the occasional travelling, then it might make sense to use your home address as the business address. However, if you plan on travelling, our recommendation is to use a registered business address. The reason behind this is you might receive an official letter or notice for inspection and if you miss it you might get fined or worse.
The benefit of using our coworking space, allows you to escape or occasionally change your work area so that you dont feel confined at home all the time. The community events at Hugge coworking are also big plus.
Additional benefits include that if a client googles you, he will see that your business based in an actual workspace building and not in a residential property.