5 Easy Steps to Start Operating
- Individual persons or corporations, that want to set up a company and operate in PortISBI Famagusta Free Port and Zone, initiate the company formation procedure by applying for company name registration at the Registrar of Companies. The applicant should present at east 3 alternative company names to the Registrar of Companies.
- Once the approval of one of the company names is received, the applicant pays a one-time application fee of 400 USD.
- The applicant fills out Operation Application Form provided by PortISBI.
- The filled out Operation Application Form is presented to the Board of Management of Free Port and Zone Directorate, from there to be passed on to the Council of Ministers for approval. The application process is followed up by PortISBI on behalf of the applicant.
- I) If the application is rejected by the mentioned authorities, the application fee is returned to the applicant.
- II) If the application is approved, the applicant completes the company formation, which takes approximately 1 month and a contract is signed with PortISBI Cyprus Free Zone and Marine Logistics Services Limited.