Do business in Cyprus
A business investment is the most popular option at present. To qualify, purchase, create or participate in Cypriot businesses or companies. Investors and progressive business minds don’t deny Cyprus is one of the best places to invest. The recent discovery of the largest oil and natural gas deposits near Cyprus’ coast will completely transform the nation’s economy over the next ten-years. New horizons are opening for major investments as a response to the oil and gas discoveries.
This half of the current decade is the best time for investors to invest in Cyprus. Properties are available at low prices but the price won’t stay low for long. The current market economy is a once-in-a-lifetime chance for investors to take the opportunity in buying exceptional properties and enjoy a guaranteed return on their investment.
Applicants must make an investment of at least €2 million in the purchase, creation or participation in businesses or companies that are based and operating in the Republic of Cyprus.
These businesses or companies should have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens. International Business Corporations (IBCs) that operate in Cyprus are permitted to employ up to five foreign residents in administrative positions or as directors or partners. Employment permits for foreign residents in admin positions are granted when the worker is at least twenty-four and has an annually income of at least CYP 24,000.
Cyprus has completed treaties on double taxation with over 40 nations. As a member of the Eurozone, there are no exchange restrictions. Under the new Tax Law, all distinctions between local and international corporations have been eliminated.
It could be its strategic location. Maybe the sophisticated infrastructure or the highly-educated workforce. Cyprus has a good deal to offer to businesses. Navigating the complicated regulatory environment can be challenging — without the right help.
The island nation is a modern, free market economy providing international investors confidence as they grow and prosper. The service sector is thought of as the backbone of the Cypriot economy and supports a high income per capita.
The sound level of consumerism, combined with a healthy GDP, hasn’t hurt the cost of doing business and Cyprus provides one of the lowest set-ups and operating expenses in the EU. With a large number of multinational companies and international bank already open and operating, the median financial freedom rate is 69.0 making it one of the best in the Heritage Foundation Index.