A BUSINESS HUB IN THE MEDITERRANEAN
Cyprus is the third largest island in the Mediterranean, which is a beneficial reason for large companies to move to the island. Doing business across three continents is indeed a strong reason for relocation.
The wide range of services makes starting and running a business in Cyprus an easy task to implement, since there are low set-up costs and fast filing. The island’s corporate, legal and regulatory environment alongside its wide network of tax treaties with the EU and third countries are just some of the reasons why it is considered an attractive jurisdiction to headquarter corporate offices.
Cyprus has the youngest workforce in Europe, fully adaptable to the demands of a globalized and regionalized ever changing economy. Cyprus’s legal system is firmly rooted in common law principles and fully applies EU law. Thus, prospective corporations also enjoy legal stability and transparency, and full access to European markets without barriers, tariffs, or bureaucracy.
WORKING IN LIMASSOL
Limassol city is being transformed into a regional center for multinational companies, attracting large tech companies and bringing together skilled workers of different nationalities and cultures.
The cosmopolitan culture, the all-year sunshine, blue waters, tax regime, and its agile economy ensure maximum living satisfaction for all prospective residents and is rapidly becoming an international hub.
With each passing year, more and more foreign companies choose Limassol as their headquarters. Significant land development projects such as The Limassol Wharf, are undertaken and modern high-rise buildings are being constructed along the coastal front of Limassol.
Aiming to meet the needs created by this growth a high-end modern architecture style is rising and is fully customized for all types of businesses.
Limassol is a beautiful destination; a shopping district, with exciting nightlife, awarded restaurants, cafes, bars, clubs, tourist attractions, and golf courses to choose from. It also has multiple yachting marinas, the largest casino in Europe and some breathtaking views of the nearby snow-capped Troodos mountains.
NEWGOVERNMENT INCENTIVES FOR THIRD COUNTRY NATIONALS (TCNs)
Temporary work and residence permits of up to 3 years of TCN employees (renewable upon expiry)
Possibility for support staff to relocate under certain conditions
Simplification of the application process for permanent / long term residence for employment purposes
Free access to the labor market for spouses of highly skilled tcn employees earning at least a gross salary of €2,500/month
Digital nomad visa for tcn individuals for a period of up to 3 years
Tax exemption of 50% for new non domiciled employees with employment remuneration of ≥ €55.000 (valid for 17 years)