News and developments
Cyprus: A Relocation and Headquartering Center
Why
Cyprus -> Business Oriented
Legal Framework -> Access to
Talent -> Access to
Markets -> Cost
Effective
Strategic
Location ->Attractive
Tax Regime
The ideal location, the natural beauty and history team up with a holistic legal and tax framework developed specifically for making Cyprus a leading jurisdiction where high net worth individuals can relocate, set up regional headquarters and attract the human capital required to manage and control their business activities.
HOW TO RELOCATE
The Cyprus Investment Programme
The Cyprus government has developed and maintains an attractive investment programme aimed at foreign investors and businessmen. Through this programme, high net worth individuals can obtain the Cyprus Citizenship and hence be able to relocate to Cyprus.
(Please refer on our website for the chart)
Obtain Employment Permit in Cyprus
It is possible for a 3rd country national to live and work in Cyprus if he/she is employed by a Cyprus company whose majority shareholders are 3rd country nationals.
There are certain requirements that need to be met both for the Cyprus Company who will be the employer and the 3rd country national employee, the most important of which is that an amount of €171.000 must be transferred from an overseas account of the beneficial owner to the bank account of the company in Cyprus.
As to the salary of the employee the following apply:
- If the employee will have managerial position then his minimum gross salary is €3.873
- If the employee will have middle-management position or administrative duties the minimum gross salary is €1.936.
- Spend 183 days in Cyprus, or
- Provided that an individual does not spend 183 in any other jurisdiction, to spend 60 days in Cyprus, be employed or be a director of a Cyprus company and own or rent a house in Cyprus
- Preparation, completion and submission of an application for the Cyprus Investment Programme.
- Obtaining work permits for third country nationals and other immigration issues.
- Introduction of real estate agents in Cyprus for residential and commercial properties.
- Registration with the Tax Department as a resident but non domicile individual.
- Completion and submission of annual tax returns.
- Opening of Bank accounts in Cyprus.
- Assistance in relation to tax and legal matters.
- Accounting and Payroll Services.