EORI Registration in Cyprus 2021 Updates
EORI Registration in CyprusUpdated on Monday 22nd February 2021
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Who needs an EORI number in Cyprus?
The Economic Operators Registration Identification (EORI) system was enabled in 2009 at European Union level. The purpose of the EORI system is to assign an unique registration number to economic operators working with Customs authorities throughout the European Union. In Cyprus, all companies and sole traders involved in cross-border trading activities are required to obtain an EORI reference number. The EORI number resembles the Cypriot VAT number in order to avoid changes in the tax and Customs’ operating systems. The EORI number is assigned to both Cypriot importers and exporters and is used for processing entry and exit declaration with the Customs authorities for shipments in and outside the European Union. The EROI number is displayed to all EU Customs authorities and the system is interconnected.
If you are a foreign investor and want to open a trading company or already have a business for which you need an EORI number, our lawyers in Cyprus can help you.
Who requires EORI registration in Cyprus?
EORI numbers are issued based on the EU Regulation (EEC) No 2913/92, which applies to all economic operators, meaning individuals and companies in Cyprus who perform customs operation within the European Union. Foreign citizens and companies engaging in trading activities on EU territory are also required to obtain EORI numbers upon their first interaction with the customs authorities in a member country. When this country is Cyprus, the EORI number will be issued by the Customs Authority in Cyprus.
An important aspect to consider when applying for an EORI number, no matter the country or provenience, is that this requirement applies to all types of companies, including sole traders and individuals with no legal entity registered on their names. As mentioned above, the main requisite based on which the EORI number is issued is the VAT number.
If you want to start a business in this country and need more information on the EORI registration system, our Cypriot lawyers are at your disposal with complete information.
How is the EORI number assigned in Cyprus?
All Cypriot companies or sole traders involved in cross border economic activities are required to register and apply for an EORI number with the Customs and Excise Department. Local companies must file a C1000 form with the Department. Cyprus also allows economic operators outside the EU register in the country if they have not applied for an EORI number yet. In order to obtain the reference number they are requested to file forms C1000 and C1000D and the EORI number they have obtained will be valid throughout the European Union. For EORI registration you can appeal to the services of our Cypriot lawyers.
The EORI registration process in Cyprus is explained in the scheme below:
Activities related to EORI registration in Cyprus in 2021
Most of the activities to be completed on Cypriot territory when an EORI number was issued are related to customs operations. These operations will usually require a significant reduction on the time spent in completing various actions with the authorities. Here are the main activities that can be completed based on EORI registration in Cyprus:
- file summary and customs declarations with the Cypriot Customs authorities or other EU states;
- file exit and entry summary declarations for temporary admission import procedures;
- operate temporary storage facilities on the territory of Cyprus or other EU states;
- apply for various authorizations and certificates, including Authorized Economic Operator (AEO) certificates with Customs authorities;
- import-export-related activities are also based on the issuance of an EORI number.
It is important to note that both EU and non-EU established companies are entitled to complete the same customs operations based on their EORI numbers, no matter the member state which issued them. Our law firm in Cyprus can help foreign enterprisers from non-EU countries open companies here and register for EORI upon their first trading operations.
Foreign companies applying for EORI registration in Cyprus
Foreign citizens, sole traders and companies from non-EU states engaged in trading relations with Cypriot entities are required to apply for EORI numbers, as these numbers will be required when completing the applications forms which need to be submitted with the Customs authorities. Those who do not have such a number can apply for it directly with the Cyprus Customs. The documents required for EORI registration as a non-EU entity requires a valid identification document or passport of the applicant and the VAT number issued in their home country. It is good to know that EORI registration for non-EU entities can also be completed via email.
Another important aspect to consider in case of foreign citizens and companies obtaining EORI numbers in Cyprus is that these numbers will start with Cyprus’ country code CY. Nevertheless, the numbers will be valid on the entire EU territory.
EORI registration for foreign operators in 2021 is not complicated can be overseen or completed by our lawyers in Cyprus.
What are required documents to obtain an EORI number in Cyprus in 2021?
The following documents are required from sole traders when applying for an EORI number in Cyprus:
- identification card or the passport;
- a copy of the VAT registration certificate, if applicable.
Cypriot companies are required to submit several documents:
- a copy of the certificate of incorporation,
- a copy of the directors’ certificate,
- a copy after the VAT registration certificate.
If appointing a representative, a power of attorney or other certification must be supplied.
Foreign companies applying for an EORI number in Cyprus in 2021 are required to supply the same documents as local companies. EORI number registration applications are processed in one to five days.
Trading activities in Cyprus
At the leve of 2021, Cyprus is one of the most prolific countries in Europe from a trading point of view, as it acts a gateway to the rest of the world thanks to its geographical location. Because of this, Cyprus EORI numbers are very useful for all companies involved in import, export or both types of operations. Most of the goods produced in Cyprus are exported to non-EU countries.
In order to understand the importance of the trading industry in Cyprus, it is good to know that:
- at the end of November 2019, exports from Cyprus increased by 13% on a year-to-year basis, reaching 236,6 million euros;
- during the same period of time, sales to non-EU countries grew by 42%, while those to EU countries fell by 23%;
- in November 2019, imports in Cyprus dropped by 33.5% on an annual basis to 648,2 million euros;
- purchased from countries in EU countries increased by 1%, while those from non-EU states dropped by 60.5%.
Local and foreign economic operators seeking to obtain EORI numbers in Cyprus in 2021 can complete the procedure online. Those who need support can rely our lawyers.
All the questions associated with EORI registration in Cyprus in 2021 can be answered by our specialists.
For information related to import and export procedures you can contact our law firm. EORI registration in Cyprus is not difficult as a procedure, however, it is recommended to ask for guidance especially in the case of non-EU companies.