The Cyprus government presented a list of incentives to attract foreign companies to bring their offices to Cyprus.
The Fast Track Business Activation mechanism was approved by the Council of Ministers on 3rd of September 2020 aiming to further attract foreign business to Cyprus as well as to provide fast and efficient services to foreign businesses wishing to establish presence in Cyprus.
Companies interested in joining the Fast Track Business Activation mechanism should meet the criteria below, thus contributing positively to the country’s economic growth.
The main criteria are:
- Companies should have a physical presence in Cyprus including establishment/operation of independent offices that are separate from any private residence.
- Existing companies should have a minimum turnover of €500.000 per year for 3 out of the last 5 years.
- New companies should provide a reliable 5-year business plan illustrating growth potential.
For more information, please click on the link below to visit Cyrus government relevant website: