Open an Online Shop in Cyprus
Open an Online Shop in CyprusUpdated on Monday 30th March 2020
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Local and foreign entrepreneurs who want to start their own businesses in Cyprus have several options in terms of industries they can operate in. They also have the possibility of starting traditional or online companies. One of the best examples are shops which can operate as brick and mortar business, but also as online companies in Cyprus.
Those who want to open online shops in Cyprus must comply with the same requirements as traditional shops and apply for certain licenses. Below, our Cypriot lawyers explain the requirements related to starting an online shop.
Registering a Cyprus company for opening an online shop
Even if the company will operate in the online environment, the business owner will need to register a company with the Trade Register in order to be allowed to complete commercial activities. The business can be set up as a sole proprietorship or a limited liability company depending on its size. Our law firm in Cyprus can handle the registration process of your company if you decide to set up an online shop.
Once this step is completed, the creation of the Cyprus online shop can be started.
Steps for opening the Cyprus online shop
Once the company has been registered, the business will need to follow a few more steps in order to have an online shop up and running in Cyprus. These steps imply:
- - registering a domain name with one of the accredited registrars in Cyprus;
- - having a website created and implementing solutions which allow customers to buy goods;
- - applying for specific licenses, depending on the types of products sold;
- - opening a merchant account with a local payment services provider or a bank.
Apart from these, a Cyprus online shop must respect a few requirements imposed by the Consumer Protection Law and the GDPR. Among these, the company must have a valid email address and a physical address which must be displayed on the website all the time.
One of the simplest ways of setting up an online shop in Cyprus is to start an Amazon store which offers several facilities.
Both foreign and local investors are welcome to open online stores in this country. With the help of our Cyprus law firm, they also can start a traditional shop with an online presence, so do not hesitate to contact us.