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Virtual Office in Cyprus

Virtual Office in Cyprus

Updated on Friday 27th March 2020

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The virtual office is one of the newest and most modern services foreign investors request in Cyprus. The virtual office combines the utility of a traditional space with those of an address used for various activities which do not require the physical presence of the owner.

Our law firm can provide you with a full range of such type of services customized to any type of Cypriot company.

Most of the times, the virtual office is used as a registered address when setting up a business in Cyprus. This is why our lawyers in Cyprus can offer tailored virtual office and company registration services to anyone interested.

Why choose a virtual office instead on a traditional office in Cyprus?

One of the most important to select a virtual office when starting a business in Cyprus is that it is the easiest way of obtaining a registered address for your company. However, a virtual office can also offer other benefits, among which:

  1. the virtual office is the perfect solution for a small business such as the sole proprietorship when it comes to meeting the legal seat requirements imposed by the Trade Register;
  2. the virtual office does not require the presence of the client which makes it easier to maintain;
  3. speaking about maintenance, there are no costs related to the maintenance of a virtual office;
  4. the virtual office is usually located in a business park which provides for a professional address;
  5. the virtual office implies reduced costs with additional employees, such as receptionists;
  6. flexibility for those always on the move who need a permanent address where they can be reached.

The Cyprus virtual office is also cheaper than the rental of a traditional space.

Communication services in a Cypriot virtual office

The virtual office offers a wide range of communication solutions and address services without the use of a physical office space.

Our Cypriot law firm offers you the possibility of purchasing a virtual office with the following communication facilities:

 

 

Space services for virtual offices in Cyprus

We can provide you with a virtual office space in Nicosia, where you can get a prestigious registered office address without spending money on the rental in case you want to start a business in Cyprus. We can also help you set your professional address as a mailbox where you can receive, send and forward your mail without the implications of postal office services. We can provide business meeting spaces and conference rooms whenever you need. In your full service virtual office in Cyprus you can benefit from broadband internet connection for quick communication, an all-in-one fax-copier-printer, advanced phone machines equipped with conference calling and video calling features.

The virtual office as registered seat for a company in Cyprus

As mentioned in the beginning of this article, the virtual office is often the choice of foreign investors starting businesses in Cyprus. The Company Law in Cyprus requires local companies to have registered addresses in the country, which in the case of local investors are easier to find. In the case of foreign entrepreneurs, however, finding a suitable address which matches the requirements of the Company Act and those of the business owner can be difficult. A virtual office in a Cypriot city can be a good solution in this case.

Our law firm in Cyprus offers virtual office services to those interested. We can also help with the registration of any type of business.

Conference room services in a Cyprus virtual office

One of the most important services linked to a virtual office in Cyprus is the possibility of using modern conference rooms for various meetings. Whether you want to use a conference room for a shareholders’ meeting, for a business conference or any other corporate event, we can assist with that. All you need to do is notify us a few days ahead.

The virtual office is one of the most modern services available for those who own companies in Cyprus and for those thinking about starting their own businesses.

If you need more information on the services available in a virtual office, our lawyers in Cyprus can provide it for you.

Cheaper costs when buying a virtual office in Cyprus

The cheaper cost is the main reason why foreign and local entrepreneurs decide to purchase virtual offices in Cyprus. The cost of buying a virtual office is often 20 to 30% lower than those of a rental. When including the maintenance costs of a traditional office space, these can increase substantially compared to those of a Cypriot virtual office which do not even exist.

Other aspects which are considered benefits of virtual offices in Cyprus are those of the flexibility related to the period in which such a service can be used. The virtual office can be used from a little as a month and up to a year, with the mention that the terms of the contract can be changed along the way.

If you need more information on how virtual offices work, our Cypriot lawyers can explain.

Advantages of the virtual office in Cyprus

The Cypriot virtual office provides you with high professional services for an affordable price. You can also benefit from good office reputation without actually having a physical office at the registered office while your clients will have in mind the picture of a traditional prestigious office. The virtual office in Cyprus will also offer you the chance to expand in whichever city you want without a great impact on your expenses. Today’s technology offers you the benefit of portability throughout the virtual office, therefore the flexibility of choosing where you want to work from.  You will be able to keep up with the latest trends as the business market also tends to move toward the online environment.

Why set up a business in Cyprus?

No matter if you intend to start a company with the help of a virtual office or traditional one, Cyprus can be your go-to destination considering the country’s development in the last few years. With one of the lowest corporate taxes in Europe and its reputation as a trading center and tourism hub, Cyprus has attracted many foreign investors until now.

According to recent statistics:

  • - in 2018, Cyprus attracted foreign direct investments (FDIs) worth 3.2 billion USD, according to the 2019 UNCTAD World Investment Report;
  • - the same report indicates that last year, Cyprus’ total FDI stock stood at 224 million USD;
  • - FDIs in Cyprus represented 915.7% of the country’s Gross Domestic Product in 2018;
  • - Cyprus ranks 57th in the World Bank’s Doing Business Report for 2019.

 

Our lawyers in Cyprus offer you advice on many legal matters such as registering a business or a virtual office. You can also contact our Cypriot attorneys in order to be up to date with the latest provisions about the Cypriot Employment law.