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Open a Software Company in Cyprus

Open a Software Company in Cyprus

Updated on Saturday 08th December 2018

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Open-a-Software-Company-in-Cyprus.jpgInformation technology, or simply IT, is for a long time one of the most prolific industries in Cyprus thanks to the great number of foreign professionals who offer their services as sole traders or through companies established here. One of the most appreciated branches of the IT industry is software development.

If you want to set up a software company in this country, you can rely on our lawyers in Cyprus who are specialized in offering tailored services related to the registration of companies.

Our law firm in Cyprus can help with the registration of a software business

The registration of a software company can be handled by our Cypriot lawyers who will start with drafting the documents required by the Trade Register. They will then file them with the Companies Register and assist with the opening of the company’s bank account and the registration with the tax authorities.

There is no specific license to be obtained when opening a software company in Cyprus, therefore the registration procedure is quite simple and fast.

NACE Codes for software activities in Cyprus

When starting a software company in Cyprus, the business owner will need to select the appropriate NACE code, as such a company can undertake various types of activities. Among the NACE codes available for an IT company, we remind the following:

  • -          code 58.21 under Section J which provides for publishing of software programs;
  • -          code 62.01 which provides for programming and design and website creation activities;
  • -          code 62.02 which provides for consultancy services for IT companies in Cyprus;
  • -          code 62.09 under which software companies can undertake computer service activities.

 

The NACE code must appear in the Cyprus software company’s Articles of Association.

Assistance for software companies in Cyprus

The Cypriot government supports IT companies, including software development businesses, through various incentives. Among these tax breaks and assistance programs for research and development activities.

If you need more information on how to start a software company in Cyprus, do not hesitate to contact us. We remind foreign investors that the legal services offered by our Cypriot lawyers are tailored to their needs and we can also help them if they want to register software companies here.