Open a Travel Agency in Cyprus
Open a Travel Agency in CyprusUpdated on Tuesday 08th October 2019
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Tourism is one of the most prolific industries in Cyprus, as it has an important contribution to the country’s economy. Those who want to operate in this sector can set up hotels, restaurants but also travel agencies in Cyprus.
Those who want to open travel agencies in Cyprus must comply with specific requirements and obtain special licenses to complete such activities. Below, our lawyers in Cyprus explain the main steps for opening a travel agency. We can assist with the procedure of opening a tour operator in Cyprus.
Requirements for opening a tour operator in Cyprus
Both local and foreign investors who want to open travel agencies in Cyprus must comply with several requirements, however, these are not very strict and can be fulfilled quite easily. An important observation must be made in the case of foreign investors from non-EU countries who must hold a residence permit for Cyprus (in the case of individuals) or have a Cyprus resident manager (in the case of companies) at the time the application for the travel license is submitted.
Other requisites applicable when opening a travel agency in Cyprus refer to the fact that the manager must have certain qualifications, and the premises of the establishment must have at least 20 sqm for the office space. Also, the Cyprus company used to operate as a tour operator must have a registered address in this country.
Other requirements for opening a Cypriot travel agency is to hire at least 2 persons (one of the employees can be the manager).
Our Cypriot lawyers can explain all the requirements related to opening a travel agency. We can assist with the procedure of registering a business form for opening a travel agency in Cyprus.
The travel agency license in Cyprus
Once the company is registered with the Companies House in Cyprus, a travel agency license must be obtained. In order to do that, the manager of the agency must fulfill one of the following criteria:
- he or she must have graduated a School of Tourist Occupations or must have a university degree in tourism;
- if he or she does not a university degree, then at least 3 years of experience in tourism are required;
- if the conditions above are not met, the applicant is required to submit proof of at least 7 years in the tourism field;
- the applicant must also have knowledge of at least one foreign language often used in tourism (such as English);
- the applicant must also have a clean criminal record at the time the application is filed;
- the applicant must not be prohibited by a judicial order to occupy the position of company manager.
It is also good to know that at the moment the application is submitted, a guarantee of 15,000 euros is required. A license fee of 400 euros for the first 2 years of activity must be paid upon the application for the business license.
In the case of companies applying for a travel agent license, all members of the board must comply with the criteria mentioned above. Our law firm in Cyprus can guide foreign investors and companies with the procedure of applying for a travel agency license.
The travel agency license is issued by the Point of Single Contact Cyprus.
Documents required to obtain a Cyprus travel agency license
The following documents must be filed when applying for a travel agency license in Cyprus:
- - copy of the company’s Certificate of Registration issued by the Trade Register in Cyprus;
- - copy of the Cyprus company’s Memorandum and Articles of Association;
- - copy of the Certificate of Shareholders, Certificate of Directors and Secretary;
- - copy of the company’s Certificate of Registered Address in Cyprus;
- - a valid criminal record certificate of the person applying for the travel agent license.
The criminal record cannot be submitted later than 60 days from the date it was issued. The manager is also required to submit evidence of their qualifications or experience (as mentioned above), as well as a foreign language certificate and copy of the residence permit or Cypriot citizenship.
Our lawyers in Cyprus can explain in detail all the documents which need to be filed in order to obtain a travel agency license.
Why start a travel agency business in Cyprus?
As mentioned earlier, tourism is one of the prolific sectors of Cyprus’ economy, as according to the latest statistics issued at the end of July 2019 by the Cyprus Statistical Service:
- - the revenue from tourism activities at the end of July was 422 million euros;
- - between January and July 2019, the revenue from tourism activities is estimated at 1,425 billion euros;
- - the expenditure per individual in July 2019 was 765,84 euros;
- - for the January – July 2019 period, the expenditure per person was 653,15 euros.
For assistance in setting up a travel agency in Cyprus, please contact our local law firm.