The legal structure/legal entity chosen to carry out a business will impact on the type and how much taxes are paid, the records and amount of paperwork the business is required to maintain and submit, the personal liability faced by the owners and the ability to raise finance.
Under Cyprus law a business can be carried out by a sole proprietor (sole trader) or through any of the following legal entities:
- Companies (private or public);
- Partnerships (General or Limited);
- European Economic Interest Grouping (EEIG)
- Cyprus International Trust