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A foreign company can set-up a branch in Cyprus and operate through this on equal terms with Cypriot companies.

A branch established under section 347 of the Companies Laws, Cap 113 is required to file annual accounts with the Inland Revenue Department.

The branch is a part of the company which is organized to carry out all kinds of activity (except for what is subject to obligatory licensing) on behalf of the head company. Some types of commercial enterprises, for example partnerships and companies which do not have the rights of a legal person, cannot be registered in Cyprus as branches.

Place of business is a separate division of the company, located outside the territory of its site, not leading the commercial activity, but only representing the interests of the legal person and carrying out their protection.

Companies with branches in Cyprus must also file their accounts annually, together with certified Greek translations. Company law changes implemented in 2003 as part of the EU accession process include the following rules covering branches.