Moving your business to Cyprus? 3 things you need to consider

Are you considering relocating your business to Cyprus? Make the most of all the potential benefits of running your business in Cyprus.

Are you considering relocating your business to Cyprus? For many companies this makes sound business sense, and comes with many benefits, but of course, it’s a big move, and one you should plan for carefully. Here are 3 aspects of moving your business to Cyprus that you should think about… 

Make the most of all the potential benefits of running your business in Cyprus. 

With your business in Cyprus, you can benefit for the unique geostrategic location of the island, giving you easy access to 500 million EU consumers, and of course, a large, talented multi-lingual workforce. The Cypriot regulatory framework is aligned with the EU, and the legal system is very similar to that of the UK, both highly respected systems. There are some very attractive corporate and income tax benefits, and the cost of conducting business in Cyprus is low, so you’ll find your business outgoings reduced. Add to all this the low crime rates, and the opportunity to live and work in a beautiful country with a glorious climate and you really do have plenty of reasons why relocating your business to Cyprus is a wise move.  

Take advantage of new government incentives for Third Country Nationals 

Third country nationals are now being offered a wealth of incentives that could be beneficial to you, so it’s certainly worth looking closely into the various options. Temporary work and residence permits are available for TCN employees lasting up to 3 years, and these permits are renewable. 3-year digital nomad visas are also available. For spouses of highly skilled TCN employees earning over €2,500 a month, there is free access to the labour market. For non-domiciled employees earning more than €55,000, a very generous tax exemption of 50% is applicable for 10 years. The application processes for permanent or long-term residence have been made easier for those working in Cyprus, and in some circumstances, it may be possible for support staff to relocate along with TCNs.  

Understand the eligibility criteria 

 The eligibility criteria for relocating your business to Cyprus is quite far reaching. Eligible companies include technology companies, pharmaceutical and biotech companies, shipping companies, companies of foreign interest operating in the republic of Cyprus, and public companies registered on a recognized stock exchange.  

Make your business move a breeze with Columbia Movers 

Here at Columbia Worldwide Movers we understand that when you relocate your business, time is of the essence, and so, over the years, we have built up extensive knowledge and experience of moving businesses in the smoothest and quickest way possible, keeping downtime and stress levels, to a minimum. Our specialists will liaise with you to fully understand your business and its unique requirements and draw up a detailed plan to ensure continuity of your business, and ease of relocation. We are FIDI FAIM accredited, and members of all the leading removal industry associations, giving you total peace of mind that your business move is in the very best hands.