Setting up a Cyprus Travel & Tourist Agency is Simple and Fast
Setting up a Cyprus Travel & Tourist Agency: Are you seeking to operate a travel agency in a popular and successful tourist destination?
Look no further. Cyprus, the island of Aphrodite, offers myriad activities and unforgettable experiences. As such it has been established as one of the most desired locations worldwide. Numbers do not lie.
Statistics show that Cyprus’ visitors marked an increase of 14.6% compared to last year. More specifically, last year’s increase of 3.6 million tourists points to another good year for Cyprus.
Another Record Year
Authorities and tourism-sector experts forecast that Cyprus in 2019 is heading for another record year. A large percentage of the tourist-related business on the island are specifically travel and tourist agencies. The relevant legislation recognizes such agencies as permanently organized offices. And able to provide the following services:
(a) the organization of any kind of travel, seminars and touring either locally or abroad or,
(b) the issue, or the arrangement on commission for the issue of travel tickets by any transportation means or,
(c) the securing of means of transport, guiding and accommodation of organized groups or persons or,
(d) any related work to facilitate the accommodation and transportation of tourists.
Your Success is Certain
Setting up a Cyprus Travel & Tourist Agency
Tourism has traditionally been a major source of income and a driver of economic growth in Cyprus. It contributes significantly to the country’s GDP. The Government, in an attempt to expand the island’s tourism seasonality, aims to extend the tourism season by two months. Over the past two years, agreements were reached with new airline operators following an “Open Skies” policy. Consequently, your business’ earnings will derive all year round from both locals and foreign travellers.
Technology and Tourism
Today’s technological advancements make the unavoidable and indispensable task of promotion as easy as ABC. Building a website that provides comprehensive information of how your firm operates and why it differs from the competition, is crucial. Persuade your client that an exceptional trip, is an organised trip.
Not to mention the power of popular social media platforms. With their proper management, you can easily reach clients located on the other side of the Earth. With just a click of a button. Access and communication, nowadays are no longer barriers.
Eligibility Conditions
The Tourist and Travel Agencies and Tourist Guides Law of 1995-2013 regulates the Setting up a Cyprus Travel and Tourist Agency. According to its provisions, the interested party needs to obtain a number of licences and approvals. Before the commencement of any operation by the business. The island’s tourist-sector supervisory authority is the Cyprus Tourism Organization (C.T.O.).
C.T.O. Must Issue License
This organisation bares the responsibility as to the approval and operation of such agencies. And their ongoing compliance with the prescribed legislation. As a consequence, you must submit the majority of prerequisites under the review of C.T.O.’s board of directors. The Board has discretion as to whether they issue the license or not.
- Official Licence shall be granted only to natural persons residents in the Republic of Cyprus or in another EU member state or legal persons established in the Republic of Cyprus; or another EU member state.
- Citizens of another EU member state may operate without the need of having a permanent organized office. Provided they declare this intention in writing.
- No foreign legal entity (originating outside the EU) may operate in Cyprus unless under the representation by an already licensed local agency.
- You must submit in advance your Travel Agency’s name for CTO’s approval. Bear in mind that the CTO is not bound to accept any name. Regardless as to whether it was already approved by the Registrar of Companies.
- An approved manager must manage your Tourist and Travel Agency.
Ongoing Obligations
When you are setting up a Cyprus Travel and Tourist Agency the following are the ongoing obligations:
- Upon approval of the application you must proceed to the deposit of a guarantee of fifteen thousand euro (€15.000) in cash; or by a letter of guarantee from a Bank; or any other Credit or Insurance Institution.
- The licence’s validity period is for two years and the Government fee for its issuance amounts to four hundred euro (€ 400,00). Afterwards you can renew it on a yearly basis. The renewal fee is three hundred euro (€ 300,00).
- You must have suitably furnished and independent premises; and have a floor area of at least 20 sq.m. with a private toilet and wash basin.
- The minimum number of personnel you must have is two; including the Manager.
- Any publication and circulation of advertising leaflets; issue of programs; or any other printed advertising material on display must include the name and the registered office of the respective Tourist and Travel Agency.
Published by E.R. Team Global Consultants Ltd
To get in touch: [email protected]
