Relocate your business
in Cyprus
Why Cyprus
It’s small size and geographical position, combined with low crime and low tax on income, its’ cosmopolitan city style and international business establishments, combined with unique nature, a Mediterranean Sea and bright sun that shines over 300 days per year, makes Cyprus a popular destination and an excellent strategic location for doing business near three different continents.
Cyprus is also a member of the European Union (EU) and the European Economic Area (EEA) and in addition to the country’s competitive legal and tax framework, the new Government incentive, allows non-European Citizens to acquire residence and employment permits up to 3 (three) years, with the right of renewal upon expiration.
There are full tax exemptions on profits acquired from dividends received from abroad or from profits of permanent establishments in other countries
Attractive Tax Environment
Lowest tax rates in Europe:
12.5% corporate tax
There are full tax exemptions on profits acquired from dividends received from abroad or from profits of permanent establishments in other countries (under certain circumstances). Interest and dividend taxes declared by companies to non-resident shareholders are not withheld. Full tax exemption on sale or transfer of shares in a company, with an exception where the company owns immovable property in Cyprus.
80% tax exemption on profits derived from licensing or exploitation and gains on disposal of Intellectual property.
Register a Company in Cyprus
Fast and Straight Forward Procedure. Process done within days
Registering a company in Cyprus is a fast and straight forward procedure and it can be completed within a few days. The physical presence of the beneficial owners in Cyprus is not required and all procedures may be done distantly, through emails and couriers.
Cyprus has a large number of double taxation treaties with over 50 countries including Russia, China, US and the UK
Eligible Companies for Relocation to Cyprus
Companies of Foreign Interest operating in the Republic of Cyprus (majority of the company’s shares are owned by third country nationals)
Public Companies registered on any recognized stock exchange.
Cypriot Shipping Companies
Cypriot Hight-Tech / innovation companies
Cypriot Pharmaceutical / biotechnology companies
Benefits of Employment
Duration
The employment and residency temporary permits are issued approximately within one (1) month and the duration of the residence and employment permit it is up to three (3) years, with a right of renewal.
Third country nationals
Third country nationals employed in companies of foreign interests can exercise their right to family reunification.
Free access to labour market
Spouses of employees who obtained a residence and employment permit in Cyprus and who receive a minimum gross monthly salary of €2,500 can have immediate and free access to the labour market.
Naturalisation of Highly Skilled Employees
Highly skilled professionals employed by Companies designated by the Council of Ministers in the context of attracting expansion of their operations in the Republic, and their family members, can submit an application to acquire the Cypriot citizenship as long as they can satisfy the specific requirements. Applications submitted by Highly Skilled Professionals are fast tracked and reviewed within a period of maximum 8 months.
HR Support for Corporate Relocation
Immigration paperwork Process made easy
Immigration paperwork can be overwhelming and complicated, and the process vary from one country to another and require specific industry knowledge. Our inhouse immigration specialists and legal practitioners, can ease the administrative burden on HR, and make your international assignment as successful as possible.
Our firm provides a single point of contact for all your HR needs, including the set-up of the company and immigration assistance.
Advise on the legal structure of your business.
Company Registration and Administrative services for companies of all sizes
Corporate / Personal bank account opening
Immigration process for the acquisition of employment and residence permits
Request more info on Cyprus Business Relocation
Y. Vasiliou & Co LLC provides professional support, and can guide you through the entire process, explaining the necessary steps, paperwork and timeline to prepare you for a successful corporate relocation.
