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Relocation of Business in Cyprus

Live and work in Cyprus. Apply for visa and naturalization.

Operate your company in a secure European country while taking advantage of the tax benefits.
Relocate with employees and family.

Live and work in Cyprus

Operate worldwide with low tax

Apply for naturalization

Move with employees and families

Reduce the tax exposure on your income.

Relocation in Cyprus either as a company or as an individual/ professional enables you to operate safely in an EU territory (and deliver your service/products worldwide) while at the same time you benefit from the attractive tax regime (one of the best in Europe) and reduce your tax exposure on your worldwide income.

Why businesses are relocating to Cyprus?

Relocation benefits.

Control your tax exposure on your income either as a company or as an individual under your employment in Cyprus.

Operate worldwide and deliver your services or products from under a secure EU legislation.

Reduce your labor and operational cost of your company. Operate in a cost effective business region.

Make yourself a Cyprus Tax resident and minimize your tax exposure on your worldwide income.

Start operating in a very short time under the Cyprus regime and benefit from the significant tax advantages of Cyprus corporate tax. You can benefit either with registering your company in Cyprus or by implementing the Substance concept which is a widely known tax concept.

The low corporate tax rate, the attractive income tax regime with multiple tax exemptions and deductions are the most important advantages, but Cyprus has much more to offer. A state member of the European Union, Cyprus provides the opportunity to companies and investors to operate under a secure legal framework and environment, protecting businesses and at the same time promoting their growth.

  • Corporate Tax Rate 12.5%
  • Low Personal Income Tax with favourable deductions and allowances
  • Double Tax Treaties with more than 60 countries
  • Intellectual Property tax regime
  • No Inheritance tax
  • No Capital Gain Tax on sale of titles (shares etc)

Company relocation to Cyprus

Relocation of a company in Cyprus with the employment of third country highly skilled nationals.

A Cyprus registered Company whose majority shareholding belongs to TCN (Third Country Nationals) Ultimate Beneficial Owners (UBO/s) or which is a listed Company, is considered as an Entity of Foreign Interests (FIE) and can employ TCNs in Cyprus.

Companies wishing to employ nationals from third countries fall under the criteria of companies of foreign interests, as defined below. In case of eligibility, these companies will be registered in the above-mentioned Register, which will be notified to the Civil Registry and Migration Department (CRMD).

Number of employees allowed.

Up to 70% of the total number of the Company’s employees can be TCNs (over a period of 5 years)

Employment percentage
Maximum of Third country nationals = 70%

Companies wishing to employ nationals from third countries fall under the criteria of companies of foreign interests, as defined below. In case of eligibility, these companies will be registered in the above-mentioned Register, which will be notified to the Civil Registry and Migration Department (CRMD).

Eligible companies to obtain permit to employ TCN

Foreign companies operating or intending to operate in the Republic of Cyprus – housing appropriate independent offices in the country must be in the following sectors.

Innovative High-Tech companies

Merchant Shipping companies

Pharmaceutical companies

Biogenetics & Biotechnology

Company Eligibility Criteria

Eligible businesses must meet one of the following criteria:

1. The majority of the company’s shares are owned by third-country nationals.

2. In case that, the percentage, of the company’s shares, owned by a third-country national is equal or less than 50%, the company is eligible if that foreign participation has a value of at least €200.000.

In both cases above (1&2), the ultimate beneficial owner (UBO) must deposit an amount of €200,000 in an account held by the company in a credit institution licensed by the Central Bank (payment institutions are not included). Alternatively, the company can submit evidence of an investment amounting to €200,000, for the purposes of operating its business in Cyprus (e.g. office purchase, office equipment purchase, etc.).

If more UBOs exist, then this amount can be deposited or invested by a single UBO or collectively.

3. Public companies registered on any recognised stock exchange.

4. Companies of international activities (formerly off-shore), which operated before the change of regime, whose data are held by the Central Bank.

5. Cypriot shipping companies.

6. Cypriot high-tech/innovation companies*.

8. Cypriot pharmaceutical companies or Cypriot companies active in the fields of biogenetics and biotechnology.

8. Companies of whom the majority of the total share capital is owned by persons who have acquired Cypriot citizenship by naturalization based on economic criteria, provided that they prove that the conditions under which they were naturalized continue to be met.
9. Cypriot Private Institutes of Tertiary (Higher) Education licensed by the Ministry of Education, Sport and Youth.

For cases 3-9, the investment criterion is also applicable and the company’s initial investment in the Republic of at least €200,000, must be proven by presenting the appropriate certificates (e.g. bank statement at the time of deposit of the amount or proof of investment (purchase of office space and/or office equipment)).

* An enterprise qualifies as ‘High Technology Company’ if:

(a) it is already established and has a presence in the market, and

(b) it has a high level or experimental R&D intensity, and

(c) it developed product/s that fall into one of the following categories: products related to aviation and space industry, computers, information and telecommunication technology (ICT), pharmaceuticals, biomedical, research and development equipment, electrical machinery, chemicals, non-electrical machinery.

Employment requirements under the relocation criteria

Highly skilled third country nationals can relocate in Cyprus under employment provided that:

  • Minimum gross monthly salary is at least 2.500
  • The employee has a university diploma or equivalent qualification or relevant experience in similar position of at least 2 years duration.
  • Employment contract is not less than two years of duration

Employment Benefits

  • Family members of TCN employees can relocate to Cyprus under family reunification.
  • Spouses whose financial supporter has obtained a residence and work permit have immediate and free access to the labour market and can look for employment
  • Ability to apply for Long Term Residence Status (Category E work permit)
  • Social Insurance contributions paid in Cyprus can be transferred to the country of origin when the individual decides to return to the permanent residence in his/her country
  • Temporary work and residence permits can be issued with a validity of up to 3 years and can be renewed upon expiration
  • Timeframe, issuance within one month
  • Tax Exemption of 50% for new taxpayers/employees with remuneration of 50% of ≥ €55.000 (Valid for 17 years)

Apply for Cyprus Naturalisation

Any Third Country National is eligible to apply for naturalization (Cyprus Citizenship) after completing 7 years of legal residence in Cyprus.

European citizens have the right to submit an application for naturalization after 5 years of residence and work in the Republic or after 4 years if they fulfil the criteria for holding a recognised certificate of Success in very good knowledge of Greek language.

Spouse Naturalization
Foreign spouses who have been married for 3 years with a Cypriot national can apply to obtain the Cyprus citizenship

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