Interested in relocating your company to Cyprus? There are new requirements
Relocating a company to Cyprus . Now, you have to invest a significant amount of money to do this.
In order to relocate your company in Cyprus, i.e. to be included in the Register of Companies of Foreign Interests, an initial investment of at least €200,000 is now required. The amendments have been approved by the Government of the Republic of Cyprus, and as of December 12, 2022 they are already in force.
How to invest? The first option: transfer the entire amount to the company’s account in a Cypriot bank and spend it gradually (paying salaries to employees, etc.). The second option: to invest in the purchase of an office or equipment for the company.
Which companies are affected by these amendments?
- Companies in which the majority of shares are owned by citizens of third countries.
- Companies in which the majority of shares are not owned by third-country nationals (i.e., their share is equal or less than 50%).
- Public companies listed on a recognized stock exchange.
- Companies already operating in the country in the field of international business and the details of which are kept by the Central Bank of Cyprus.
- Cyprus shipping companies.
- Cypriot innovation and high technology companies.
- Cypriot pharmaceutical, biogenetic and biotechnology companies.
- Cypriot companies with a majority shareholding — this share must belong to people who acquired Cypriot citizenship for investment.
Also note that successfully relocated companies can hire employees from third countries with a salary of more than €2,500 per month under a simplified procedure.