Cyprus is becoming an increasingly popular location for entrepreneurs looking to establish their business in Europe. The country offers a stable political and economic environment, a favorable tax regime, and a strategic location at the crossroads of Europe, Asia, and Africa. One way to quickly establish a business in Cyprus is to consider a Cyprus Ready Made Company (RMC). In this article, we will explore the benefits of using an RMC and why you should consider it for your business.
What is a Cyprus Ready Made Company?
A cyprus ready made company is a pre-registered company that has already been incorporated in Cyprus and is available for immediate use. These companies are also known as Shelf Companies, Off-the-Shelf Companies, or Aged Companies. RMCs are commonly used by entrepreneurs and investors who want to start their business in Cyprus quickly without going through the lengthy process of registering a new company.
The process of registering a new company in Cyprus can take up to six weeks, but with an RMC, entrepreneurs can begin trading almost immediately after purchasing the company. RMCs can be tailored to meet the specific needs of a business, including its name, directors, shareholders, and business objectives.
Benefits of using a Cyprus Ready Made Company
There are several benefits to using a Cyprus Ready Made Company, including:
- Time-saving: As mentioned earlier, registering a new company in Cyprus can take up to six weeks, whereas purchasing an RMC can provide immediate access to a registered company. This can save valuable time for entrepreneurs who need to start trading immediately.
- Established company: An RMC is a pre-registered company that has already been established, with a name, directors, and shareholders in place. This can provide credibility and establish a track record for the company, making it easier to do business with suppliers, customers, and financial institutions.
- Bank account: RMCs have a better chance of opening a bank account in Cyprus than newly registered companies. This is because banks prefer to work with established companies rather than new businesses that may have a higher risk profile.
- Tax benefits: Cyprus has a favorable tax regime for businesses, with a low corporate tax rate of 12.5%. RMCs can take advantage of these tax benefits immediately, which can provide significant cost savings for the business.
- Strategic location: Cyprus is located at the crossroads of Europe, Asia, and Africa, making it an ideal location for businesses that want to trade with these regions. The country has excellent infrastructure, including two international airports and a modern port, making it easy to do business with the rest of the world.
- Easy transfer of ownership: RMCs are designed to be easily transferred to a new owner. This can be beneficial for entrepreneurs who want to sell their business in the future or for investors who want to acquire an established company quickly.
Cyprus is becoming an increasingly popular location for entrepreneurs who want to establish their business in Europe. Using a Cyprus Ready Made Company can provide several benefits, including time-saving, an established company with a track record, a better chance of opening a bank account, tax benefits, a strategic location, and easy transfer of ownership. If you are considering starting a business in Cyprus, you should consider using an RMC to save time and take advantage of these benefits.