Local and foreign investors may establish any of the following legal entities or businesses in the Republic of Cyprus:
- Companies (private or public);
- General or limited partnerships;
- Business/trade name;
- European Company (SE);
- Branch of overseas companies.
Every natural or legal person, established in the Republic of Cyprus, is liable to register to the VAT, by the end of the month, if the annual turnover of VAT taxable goods and services supplied in the previous 12 months has exceeded €15.600 or at any time if there are reasonable grounds for believing that the annual turnover of the VAT taxable goods and services supplied will exceed €15.600 within the next thirty days. Notably, a person not liable for VAT registration may register voluntarily. Further information may be found in the leaflet "VAT Registration".
Natural persons are liable to register with the Inland Revenue Department and obtain a Tax Identification Number for individuals, provided that their annual earnings exceed 19500 euros, whereas all companies established in the Republic of Cyprus are liable to register with the Inland Revenue Department and obtain a Tax Identification Number for non individuals.
Residence and employment permits are granted mainly on a temporary basis and for a specified position.