Within the framework of the decision taken by the Heads of the Members States and the commitment of Cyprus to adopt specific measures in order to considerably reduce the average time for setting up a business, especially an SME, the Ministry of Commerce, Industry and Tourism announced as from 2 April 2007 the operation of the One – Stop Shop Service for setting up a business.  

Consequently, from now on investors and businessmen will only need to be in contact with one single point to obtain almost all the required permits in one streamlined coordinated process rather than having to go through different government services. Therefore, reducing considerably the average time for setting up a business; aiming to one week.

For more information, contact us at info@kyrlaw.com.cy