Doctors can establish medical companies

On the 17/7/2013 the parliament enacted law (Ν.72(Ι)/2013)  which provides for the establishment of Medical companies. The law provides that any Medical Doctor that is registered with the Pancyprian Medical Association can establish a medical company under his name that will enable him/her to separate the medical activities form personal.

The benefits are both legal and tax. On the legal side, the company is a separate legal entity allowing it to maintain separate bank accounts, borrow money and encumbrance assets of the company always having limited liability.

On the tax side, tax is mitigated especially for high income doctors having a turnover of EUR70.000 or above.

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