Cyprus to join Schengen information system

Cyprus will be joining the Schengen Information System on July 25th, 2023 after having been positively assessed and following decades of efforts. This means that Cyprus will be able to exchange information with other member states, enhancing its ability to prevent and investigate crime. It will also make it easier for Cyprus to manage and…

Cyprus- an attractive destination for international headquarters

Cyprus is the European Union’s fastest-growing technology hub. Not only tech companies benefit from Cyprus’s business and lifestyle advantages. Many international companies that do business in Cyprus, the Eastern Mediterranean region, or globally consider Cyprus to be a stronghold. A growing number of international corporations are choosing Cyprus as their regional or global headquarters. Cyprus…

Cyprus Digital Nomad Visa Scheme

With its Decision of 15th October 2021, the Council of Ministers approved the introduction of the Digital Nomad Visa Scheme in Cyprus, with a ceiling of 100 residence permits to be issued. WHAT IS THE “CYPRUS DIGITAL NOMAD VISA The “Cyprus Digital Nomad Visa” Scheme allows nationals from non-EU and non-EEA countries, who can perform…

CYPRUS IP BOX REGIME

What is IP Box Regime? IP Box Regime (known also as a patent box, innovation box or IP box) is a corporate tax regime used by many countries to incentivize research and development activities by taxing revenues deriving from licenses, royalties, patents, sale or transfer of qualified IP assets differently offering lower taxes compared to…

CYPRUS HOLDING COMPANIES

What are Holding Companies? In simple terms, Holding Companies are companies that do not offer a product of services but exist for the sole purpose of owning and controlling other companies via share majority; they are usually found within a Group of Companies as the Parent entity of the other Subsidiary companies. As such, their…

Cyprus launches Strategy to become a Sustainable Business and Trade Centre

The Cyprus Government recently presented a new strategic plan for attracting investors and companies to the country, with particular emphasis on high-tech, shipping, innovation, research and development, biogenetics and biotechnology research.   The plan is in line with the guidelines of the European Commission and the Recovery and Resident Facility and will be implemented in…

CYPRUS REDOMICILIATION – A GLOBAL SOLUTION

Cyprus Law permits the so-called “re-domiciliation” process allowing a company to transfer its “seat” of incorporation into, or out of Cyprus, in accordance with Companies (Amendment) Law of 2006, Law No. 124(I)/2006) (the “Law”). This law provides a major advantage for a foreign company that can transfer its seat to Cyprus and perhaps later to…

Cyprus History

The Republic of Cyprus was established in 1960 after the former colony gained independence from Britain. Since 1974, however, a de facto division of the island has existed, with the Cyprus government controlling 63% of the territory in the South, and the pseudo state, formed by the Turkish Cypriots and backed by Turkish Army Units,…