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Cyprus will introduce new incentives to support business and attract foreign companies

The government of Cyprus will attract foreign companies to the country and stimulate existing ones with new measures to support business. This was stated by the Minister of Finance of the country Konstantinos Petridis. 


The innovations will come into force on January 1, 2022 and will affect several aspects important for business: tax benefits, employment of third-country nationals, the introduction of Digital Nomad Visa and naturalization.


The new business support program will be able to participate:

- foreign companies operating in the Republic of Cyprus, or foreign companies intending to operate in the Republic of Cyprus and having independent offices in Cyprus
- Cypriot innovative and high-tech companies
- Cypriot pharmaceutical companies or Cypriot biogenetics and biotechnology companies
- Cypriot shipping companies


 
The following innovations are planned to be introduced:

Tax incentives


- new highly qualified employees from third countries with a salary of 55,000 euros per year will be exempt from taxes at a rate of 50%
- existing employees with a salary of less than 100,000 euros per year will be able to extend the validity of the benefit from 10 to 17 years
- potential beneficiaries of the allowance will be persons with earnings from 55 thousand euros to 100 thousand euros for the remaining 17-year period
- the extension of tax incentives for investment in innovative enterprises and an increase in the tax deduction for research and development expenditures; with the introduction of these measures, investors will be able to count on 50% tax exemption when investing in certified innovative enterprises


 Employment of third country nationals


- will be allowed on the condition that the number of foreign employees in the company does not exceed 30% of the total number of employees and a legal employment contract has been concluded between the employer and the employee
- accelerating the issuance of work permits for highly qualified third-country nationals
- the validity period of residence and work permits will be issued for up to 3 years with subsequent renewal
- the amount of wages will be determined in accordance with the current legislation
- spouses of highly qualified third-country nationals who work in Cyprus with a residence and work permit and receive a minimum gross salary of 2.5 thousand euros per month (does not apply to support personnel) will be given the right to legally find employment
- third-country nationals will be able to count on receiving a pension


 Digital Nomad Visa


- can be obtained by third-country nationals working remotely with employers or clients outside Cyprus
  it will be possible to stay in Cyprus for a period of up to 1 year with the right of extension for another 2 years
- one's can stay in the country with one's family members, who will be issued a residence permit upon request (the residence permit will be valid for the same period as the main applicant)
- it is necessary to provide financial guarantees for staying in the country (at least 3.5 thousand euros per month)


 Naturalization


- foreign employees will be able to apply for citizenship after 5 years of residence and work in Cyprus (instead of 7 years, as it is now)
- those who pass the exam on knowledge of the Greek language as "excellent" will be able to obtain a passport after only 4 years of living and working in Cyprus

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Налоги и пошлины
ID: 6399
Сбор за перевод права собственности (единоразовый)
1445.7 € (1.57 %) один владелец
1380 € (1.50 %) два владельца
Гербовый сбор (единоразовый)
138 € (0.15%)
Налог на недвижимое имущество (ежегодный)
75 € (0.08 %)
Муниципальный налог (ежегодный)
250 €/год (0.27 %)
Стоимость юридического сопровождения (единоразовая)
736 € (0.8 %) — 920 € (1 %)

Более подробную информацию о налогах и сборах при покупке недвижимости на Кипре вы можете получить на нашей странице.

Ольга
Менеджер-консультант
+(357) 25 315 318
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