Cyprus has been an attractive international business hub for few decades now due to tax advantages but now more incentives are available.
This journey is going to be tough. Mistakes will be made. That is fine. You have to be prepared and make less mistakes. Trial and error is a great way to learn, but having a path to follow until launch is a must strategy to success.
The program aims to create new jobs, promote innovation and research, enhance the startup ecosystem and support the country’s economy.
Cyprus government in a continuous effort of modernising the sectors of the economy contributing to GDP growth introduced an ambitious plan in attracting investment to sectors relating to technology and more specifically to Research and Development. The incentives are aiming in attracting both local and foreign direct investments in the sector of Research and Development (R&D) which are involved in producing innovative products, services and processes.
Incentives have been designed in attracting investment by providing generous tax breaks, removal of government red tape and less strict immigration rules for citizen’s origin from countries outside the EU, and can be enjoyed once the operations are set and managed through Cyprus.
In the below brief analysis the incentives offered by the local mechanisms and schemes are distinctly divided in Companies, Owner of the companies – Investors and Employees of such companies.
Companies which are operating in research and development sector of the economy are enjoying substantial benefits in relation to the following:
Owners/Directors of innovative companies.
Owners/shareholders and directors of innovative companies using Cyprus as their primary resident as part of managing the operations in Cyprus enjoy the following:
How can KTC help you?
Our firm can assist you set up your business in Cyprus and managing all the formalities in the process of operating your innovative business. Our services can assist you on the following:
Investors willing to invest in innovative startups in Cyprus, now have a good reason to do so. Tax exemptions and various other incentives apply.
Who are the leader startups in the world and from which countries startups usually pop up?
The program was launched to create jobs, promote innovation, research, develop the business ecosystem and support the economic development of the country. But how Cyprus Startup Visa helps and attracts foreign entrepreneurs?
The program allows entrepreneurs or a team from countries outside of the EU and the European Economic Area to reside in Cyprus with the purpose of establishing, operating and developing their startup with a great growth potential under the EU umbrella.
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