Setting up a business

larfin boy


Joined: 26/04/2007
Posts: 9

Message Posted:
26/04/2007 13:32

Help!



My partner and I are hoping to be moving out there in the next six months to set up a small business.. We have started the ball rolling but need all the advice we can get... Is anyone out there aware of the laws and legal requirments?? Any other help would be great... Is this a great place to live if your a young couple!?

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
27/04/2007 16:38

Sorry cannot give you any definitive answer, except to try and find a solicitor and accountant ASAP that knows what they are doing. Also if you know a TC that would go into partnership then things would be a lot easier.



From talking to friends in business the authorities at the moment are changing rules all the time and certainly not to the benefit of incomers. Several have given up or seriously considering their future options



Do not forget the huge bond they also now require.



I know that is not want you want to here but I am afraid it is fact. If we were not retired then would not be contemplating trying to work.

larfin boy


Joined: 26/04/2007
Posts: 9

Message Posted:
30/04/2007 14:12

Hi thanks for that, weve already contacted a solicitor etc and are aware of the bond.. Which my understanding is for tax purposes??? It is all still very confusing! But as you say things are changing, thats why id like as much info as I can gather... Many thanks.

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
30/04/2007 18:55

best advise is Don't you are the mercy of thieves liars and corrupt practice.

ttoli


Joined: 24/03/2007
Posts: 1172

Message Posted:
30/04/2007 21:11

Sadly i have to agree with Littlenige, having been here nearly 2 years now, there is no way i'd even think of opening a company, thing is that there are so many qualified ex pat tradesmen over here who could help the TRNC but the govt seem to shoot themselves in the foot by making it so difficult to work legally (unless you know someone of course!!).

larfin boy


Joined: 26/04/2007
Posts: 9

Message Posted:
02/05/2007 17:33

Well thanks for that guys I will seriously give it some thought! I didnt expect it to be easy.... Is it really that bad, surely its not just retired expats over there??

ttoli


Joined: 24/03/2007
Posts: 1172

Message Posted:
02/05/2007 20:37

No i was just using that as an example,unless you have the right contacts / TC business partner you will find that there is a completly different set of rules for non TC's.



i know of 3 Brits who set up companies, started to turn a profit and the landlords, then up the rent by 3-400%!!, dont get me wrong there are many decent people over here but you do need to do your homework, try speaking to other expats who run a business.(contact me direct and i can put you in touch with a couple).

larfin boy


Joined: 26/04/2007
Posts: 9

Message Posted:
08/05/2007 20:19

thanks for that gary my partner will be in touch via e mail. contacts of real people who are out there in business will be great for us. We know a little as have visited a couple of times but we want to make sure we do this properly as we are very serious!