Why Cyprus

Attractive TAX Regime

Cyprus offers a low corporate tax rate of 12.5%, one of the lowest in the EU. It also has tax incentives for individuals and businesses, including tax exemptions for non-EU digital nomads on foreign income under the Digital Nomad Visa. For property investment, Cyprus provides Capital Gains Tax exemptions on property sales under certain conditions, making it tax-friendly for foreign investors.

Property Investment Opportunities

Cyprus offers affordable real estate with high returns on investment in residential and commercial properties. The Residency by Investment Program allows individuals to acquire permanent residency or citizenship through property investment, leading to EU access. The rental market is strong, driven by demand from expatriates, tourists, and digital nomads.

Quality of Life & Safety

Cyprus offers a relaxed Mediterranean lifestyle with a warm climate, beautiful beaches, and excellent work-life balance. It's one of the safest countries in Europe with low crime rates and provides high-quality healthcare, with EU nationals benefiting from the EU health insurance system.

Thriving Business Environment

Cyprus offers business-friendly regulations with simple bureaucracy and incentives for international companies. Many global firms set up headquarters here to access the EU market, benefit from low taxes, and utilize a skilled workforce. There are also incentives for startups, especially in tech and innovation sectors.

Strategic Location & Accessibility

Cyprus is strategically located at the crossroads of Europe, Asia, and Africa, providing excellent air connectivity for international business and travel. As an EU member, it offers access to the European market and its regulations, making it an ideal base for businesses, especially those from non-EU countries.

Healthy Work-Life Balance

Cyprus offers outdoor activities like hiking, cycling, and water sports, promoting a healthy work-life balance. The Mediterranean lifestyle emphasizes family, community, and socializing, creating a pleasant environment for personal and professional growth. Its rich history and culture, along with proximity to other Mediterranean regions, provide ample opportunities for exploration.

Benefits

Cyprus presents a steadily growing real estate market with strong potential for return on investment, tax advantages, and residency opportunities, making it the perfect destination for both business ventures and personal investment. Beyond its stunning beaches, picturesque mountains, and charming villages, Cyprus boasts rich history, world-class shopping, exciting amusement parks, and an array of outdoor activities like nature trails, cruises, kayaking, and a unique cultural scene that offers something for everyone.

With 2.4 million tourists flocking to Cyprus each year, many see it as a dream vacation spot, but forward-thinking investors recognize the untapped potential it holds. Whether you're looking to invest in real estate for business expansion, secure a luxury property for a prosperous life, or plan your retirement in paradise, Cyprus provides the ideal mix of affordable living, high returns, and an unmatched lifestyle. It's not just about investing in property—it's about investing in a future filled with opportunity, growth, and enjoyment.

Key Steps to Setting Up

1. New Immovable Property

The main requirement is the purchase of new immovable property of a total market value of at least EUR 300,000 plus VAT.

2. Deposited a Minimum Capital of EUR 30,000

The applicant must submit a confirmation letter from a Cyprus bank that they have deposited a minimum capital of EUR 30,000 from abroad into an account that will be locked for three years. After the expiration of this period, the money will be released without restrictions.

3. Secured Annual Income of at least EUR30,000

The applicant must provide supporting evidence of a secured annual income of at least EUR 30,000 deriving from abroad. This income must increase by EUR 5,000 for the spouse and every additional child and EUR 8,000 for each dependent parent. The income may include, for example, salaries from employment, rents, pensions, and dividends from shares.

Key Steps to Setting Up

1. Highly Skilled Employees

May enter Cyprus with a permit obtained through us. TCN’s should hold a University Degree or Diploma or equivalent qualification or confirmation of relevant experience in a corresponding employment position of at least 2 years.

2. Family Reunification

Your close family members continue to be able to join you and settle in Cyprus at any time in the future.

3. Right to be registered in GESY

Applicate has the right to be registered with the National Health System known as the Gesy.

4. Cyprus Citizenship

After 7 years a applicant may apply to be Cyprus Citizen this will be reduced to 4 years if the applicant holds a recognized certificate of excellent knowledge of the Greek Language.

Benefits

Employment in Cyprus offers significant advantages for foreign workers. The country provides an attractive tax system, with a low corporate tax rate of 12.5% and personal tax incentives, making it a favorable destination for employees. The high quality of life—with a Mediterranean climate, beautiful beaches, and a lower cost of living compared to other European countries—ensures a comfortable lifestyle. Additionally, Cyprus promotes a great work-life balance, reducing stress and allowing more time for personal activities. Working in Cyprus also offers access to a skilled workforce and a strong international network, as the country is home to many multinational companies and thriving industries. Furthermore, employees can benefit from family reunification, allowing them to bring immediate family members (spouse, children) to live with them, improving their overall well-being and social integration in Cyprus.

Smart speaker

Benefits

Headquartering and company relocation in Cyprus is now even more attractive than before. Foreign business owners are encouraged to move their Headquarters to Cyprus.

Businesses looking to establish a presence in Cyprus have several options when it comes to entity structures:

- Private Limited Liability Company (Ltd): The most commonly used legal form for businesses in Cyprus. It requires at least one director and one shareholder, and the company’s liability is limited to the amount invested.
- Branch Office: Foreign companies may establish a branch office in Cyprus without creating a separate legal entity. While the branch operates under the same legal personality as the foreign company, it must adhere to Cypriot tax and regulatory requirements.
- Partnership: Suitable for small businesses, partnerships can be either general or limited, depending on the desired liability and structure.
- Public Limited Company (PLC): Suitable for larger businesses, especially those seeking to raise capital through a public offering.

Key Steps to Setting Up

1. Local Registrations for Establishment or Re-domiciliation of Companies in CY

Company registration and name approval.
Registration with the Social Insurance.
Registry and Employers’ Registry.
Registration with VAT and Income Tax Registry

2. Facilitation for an expedited issuance of the necessary residence and employment permits in Cyprus

Facilitation for an expedited issuance of the necessary residence and employment permits in Cyprus for third country nationals and members of their family, required for the operation of companies in Cyprus.

3. Guidance for Establishment and Operation of Companies in CY

Guidance for establishment and operation of companies in Cyprus and provision of information for all the necessary permits required by the company to start operations.

4. Eligibility criteria for Fast Track Business Activation Mechanism

Companies should have a physical presence in Cyprus including establishment/ operation of independent offices that are separate from any private residence.

Existing companies should have a minimum turnover of €500,000 per year for 3 out of the last 5 years.

New companies should provide a reliable 5-year business plan illustrating growth potential.

Change the text to include your own content. Adjust the font, size or scale to customize the style.

Include as much or as little text as you want. Tabs grow and shrink vertically to fit your text. Each tab can have a different height and look.

Smart speaker

Benefits

Relocating to Cyprus as a digital nomad offers the freedom to work from anywhere with a reliable internet connection, allowing you to live and explore different places. You have the flexibility to set your own schedule, balancing work with leisure or travel.

Living in Cyprus also offers rich cultural exposure, enabling you to experience new traditions and languages. The lower cost of living compared to other European destinations helps you enjoy a high quality of life on a budget. Additionally, Cyprus provides excellent networking opportunities, connecting you with like-minded professionals from around the world. Plus, the tax incentives available to digital nomads in Cyprus can make it a financially appealing option for remote workers.

Key Steps to Setting Up

1. Application Timeframe

Applications for Digital nomad visas can be obtained within 5-7 weeks.

2. Proof of Income

For the Digital Nomad Visa, you must show proof of earning a minimum of €3,500 per month (before tax). This income must come from foreign clients or companies (not from local Cypriot employers).

3. Bank Account

While not mandatory, having a local bank account in Cyprus can make managing finances easier. Popular banks include Bank of Cyprus, Hellenic Bank, and Alpha Bank. To open an account, you’ll typically need proof of address and identification.

4. Preparation of All Documents

Passport, Health Insurance and Back ground checks.

Cyprus Relocation

Where Business Meets Paradise

Request a Quote

Home
Solutions

Contact

sales@poreeconsulting.com

South Africa | Cyprus