On 30.11.2023 the House of Representatives of the Republic of Cyprus voted for an amendment to the Civil Registry Law. Now highly skilled foreign employees of companies of foreign interest may apply for the Cyprus citizenship after their legal stay in Cyprus for 3 or 4 years instead previous 7 tears. The main condition is the knowledge of Greek confirmed by language exam. The applicants who passed the exam for the Level A2 can apply for citizenship after 4 years and the applicants who passed the exam for the Level B1 can apply for the citizenship after 3 years. Such applications will be examined within 8 months and the family members will be able to apply for the citizenship on the same conditions including the condition for Greek language exam.

In the growing world of international business, dual company structures offer a strategic edge, particularly when leveraging the unique benefits of jurisdictions like Malta and Cyprus. This article offers insights into the advantages of such setups and provides a detailed analysis of the business landscapes of both nations. Whether you’re an established enterprise or an entrepreneur, understanding the potential of a Malta-Cyprus partnership can be transformative for your venture. In this comprehensive guide, we will give insights into this potent combination, helping you make informed decisions for your business’s future.

Individuals could benefit from investing in Cyprus through the acquisition of Permanent Residency. It can be acquired by investing a minimum of 300,000EUR in Property. The scheme grants the applicant and their family visa-free entry to Cyprus, permanent residency, and the right to reside in the country and open a business. The permanent residency is valid for life but the applicant can also apply for Cypriot citizenship and a passport after 7 years. A point to consider is that Cyprus offers personal tax exemptions for new residents and non-domiciled individuals.

Companies can enjoy a tax system that agrees with EU and international regulations.....

Services offered by fiduciary service providers:

• Substance services
• Holding of shares on behalf of the real owners
• Acting as directors, company secretary and shareholders of a company
• Providing a physical address to a company

Cyprus has been a favourite destination for relocation for many international businesses over the last few years. This comes as no surprise especially for the servicing industries which have a core expense labour cost. Cyprus having the lowest (last time we checked) employment costs in Europe and one of the highest tax free amount for salaried persons makes it a true challenger when it comes to relocation.