Investment criterion added on the policy of the “Strategy for Attracting Businesses for Activities or/ and Expansion of their Activities in Cyprus.
The eligibility criteria of Registration of companies in Cyprus in the Foreign companies registry has been updated recently. An amendment of the policy for the Registration of Companies in the Register of Foreign Interest Companies has been approved on 30 November 2022. The new decision specifically includes the criterion of a company’s obligation to prove an initial investment in the Republic of at least €200,000, which should be proven by presenting the appropriate certificates.
The Decision enters into force on December 12, 2022.
About the strategy:
Attracting businesses for activities in Cyprus – Relocation of Businesses in Cyprus
The Council of Ministers approved on October 15th 2021, the “Strategy for Attracting Businesses for Activities or/and Expansion of their Activities in Cyprus”. The Strategy is a very important initiative towards attracting both international investments and talent. The existing investment policy has been radically reviewed, broadened and simplified to include a series of actions and reforms in several areas of intervention, aiming to enhance Cyprus’ position as an international high-growth business center.
The careful and thorough planning ensures that the benefits derived from the successful implementation of the Strategy will significantly contribute to redefining the Cyprus growth model. As of 1 January 2022 the current “Fast Track Business Activation Mechanism” will evolve into the “Business Facilitation Unit (BFU)”. The Unit will be the single point of contact for foreign companies.
The purpose of the new unit will be the fast and efficient processing of requests received from foreign companies for the establishment of a company in Cyprus or the expansion of activities of existing companies.