Grant Thornton Cyprus has launched the Grant Thornton Skills Lab, a certified vocational training centre designed to equip professionals and businesses with practical, hands-on skills. Led by AI & Data Lab Leader Monica Odysseos, the initiative delivers open workshops, seminars, and customized in-house corporate training covering critical focus areas such as Artificial Intelligence, Sustainability/ESG, EU Pay Transparency, Compliance, Cybersecurity, and Leadership. All training programs are eligible for funding through the Human Resource Development Authority of Cyprus (HRDA).

This practical guide addresses key operational questions regarding the Cyprus Ultimate Beneficial Owner (UBO) Register managed by the Registrar of Companies. It outlines essential compliance obligations for local entities, detailing who qualifies as a UBO (the 25% ownership/control threshold), mandatory filing windows, including the 90-day rule for new incorporations, the 45-day window for structural changes, and the mandatory annual confirmation (1 October – 31 December), and options for complex structures or senior management filings when no single UBO is identified.

Grant Thornton Cyprus has appointed Michael Mavrommatis as a Partner in its Tax Practice. Bringing extensive expertise in cross-border corporate structuring, international tax planning, and advisory for high-net-worth individuals and global enterprises, Mavrommatis's addition reinforces Grant Thornton's position as a leading professional services firm in Cyprus's evolving business landscape.

This guide breaks down two primary immigration pathways to Cyprus for non-EU professionals and business owners:

• Digital Nomad Visa: Designed for non-EU remote employees or freelancers earning at least €3,500 net per month from foreign entities. It permits temporary residence for up to 3 years without local employment rights.

• Business Facilitation Centre (BSC) / Company of Foreign Interests: Geared toward business owners and key personnel. It requires an investment of €200,000 into a Cypriot company and a minimum gross monthly salary of €2,500, granting local employment rights and a path toward corporate and personal residency.

Both options offer distinct timeframes, documentation requirements, and family inclusion pathways depending on whether you aim to work remotely or establish an active corporate presence on the island.

Under Cyprus regulations, all insurance brokers and agents licensed by the Cyprus Registrar of Insurers must renew their operating licenses every three years. Licensees are notified by the Insurance Regulator two months prior to the expiration date to begin gathering the necessary compliance documentation, such as the EAD 9 form. Additionally, when corporate firms appoint a new director, the chosen individual must hold the necessary qualifications and experience, requiring an evaluation process that incurs a standard fee of 70 EUR. Understanding these strict document compilation windows, application examination timeframes, and regulatory approval stages is crucial for maintaining legal compliance and avoiding fixed penalty fees on renewals.