Company Relocation to Cyprus

Relocate your company to Cyprus, an every-growing hub for business in the EU.

Cyprus is a greatly appealing option for companies wishing to relocate their headquarters. 

There is a plethora of reasons supporting Cyprus as a best-in-class headquartering jurisdiction:

Market Access

  1. Situated in a geostrategically optimal EMEA location
  2. Provides convenient access to the EU”s market of c. 500 million consumers
  3. Benefits from the c. 40 EU Trade Agreements and 65 double taxation treaties that Cyprus is part of.

Ease of Immigration & Employment

  1. Ease of employment from the EU talent pool.
  2. Cypriot Citizenship on naturalization grounds can be applied for following 7 years of employment and residence
  3. Straight forward and efficient Immigration Mechanism for non-EU nationals. Companies can employ 3rdcountry nationals if the following requirements are satisfied:
    • Gross monthly salary minimum: €2,500 (can be reduced in the case of support staff)
    • A minimum of a university degree (or equivalent), or 2 years’ working experience should be held by the candidate.
    • Maximum of 70% of third-country employment is allowed for a minimum period of 5 years.
    • Employment contracts are to be for a minimum of 2 years, with work permits being issued within one month and remaining valid for a period of 3 years.
    • Work permits may also be issued to spouses of employees obtaining visas within the framework of this regime

Quality Living

  1. High quality of living for expatriates.
  2. Enviable quality of life in one of the safest countries in the world (Express Media)
  3. High-quality healthcare facilities.
  4. One of the best state pension systems worldwide.
  5. Ranked amongst the best retirement destinations globally.
  6. Strong education sector comprising 9 universities (3 public and 6 private), as well as more than 40 public and private higher education institutions.
  7. Lower living costs than many other EU countries.

  

Business Friendly

  1. A comparatively low and highly appealing corporate tax rate of 12.5% on trading profits.
  2. An attractive regime allowing for corporate taxation for IP companies to reach as low as 2.5% on earned income from IP assets.
  3. Expatriate executives and new Cypriot tax residents can benefit from special income tax incentives.
  4. 100% exemption on corporate taxation in the case of security sales.
  5. Corporate income tax exemption on income from dividends
  6. Differences in foreign exchange for corporate income tax purposes are tax neutral in Cyprus.
  7. Group tax relief for 75% holdings is available to companies within the same group.
  8. Withholding tax exemption for overseas royalty payments.

Fast-track Business Activation Mechanism:

Headquartering in Cyprus has become more appealing through the introduction of the Fast-Track Business Activation Mechanism, which aims to attract more business to the island.  Under the Ministry of Energy, Commerce and Industry, the FTBA includes the following:

  • User-friendly and accelerated procedure through a ‘one-stop-shop’ for all required local registrations for establishment or redomicilization in Cyprus (registration at the Company Registrar, name approvals, Social Insurance Registry, the Employers’ Registry etc).
  • Straight forward and comprehensive guidance for operation in Cyprus (necessary permits for establishment etc).
  • Expedited residence and employment permit procedures.

Eligibility criteria for FTBA:

  • New company formations are required to provide a 5-year business plan (goals, activities and growth strategies etc.)
  • Already formed companies are required to have a €500.000 / annum as a minimum turnover for 3 / 5 years preceding years of operation.
  • A physical presence in Cyprus is mandatory (independent staffed premises, separate from private residences)

 

Our expertise and extensive real estate network enables for a smooth relocation for your company by assisting you with your property needs through the set-up process up to your operational launch and thereafter.

If you or any of your acquaintances are considering relocating your company to Cyprus, we would be more than happy to assist with any of your queries.

Interested in Relocating to Cyprus?

Contact us