Definition
A Business Name is the registration of the business name with the Registrar of Companies (only TRNC citizens can register). Business Name Companies are also known as sole proprietorships and have unlimited ownership and issues of debts of a natural person. These types of companies are easier to set up and the cost of incorporation is less than Limited companies.
Applicable Law
Application for Business Name registration can be made under Section 116 Collective and Limited Partnership Act
Registration
Applications for registration can be made under:
- Name search and approval.
- T.U.1. Registration form is completed and submitted to the Registrar of Companies.
Income Tax by Tax Liabilities:
- Monthly Value Added Tax Declaration
- Annual Income Tax Declaration