Embrace new horizons: Relocating to Cyprus

Relocating to a new country is more than just a move; it's a strategic decision that can shape your future in significant ways. Cyprus stands out as an exceptional destination for non-EU citizens considering relocation. With its favourable tax policies, full EU membership, and an alluring Mediterranean lifestyle, Cyprus offers a variety of pathways that cater to the aspirations of entrepreneurs, professionals, retirees, and families alike.

Whether your goal is to expand your business, enjoy a high quality of life, or establish a new home, Cyprus provides a welcoming environment full of opportunity.

Cyprus offers six key relocation options, tailored to your professional profile and objectives:

1. The Cyprus Startup Visa for visionary entrepreneurs

If you have a scalable, innovative business plan, this visa could be your gateway to the EU market. It is mainly addressed to visionary entrepreneurs aiming to launch or grow a technology-driven business and is specifically targeted at individuals with such profiles. It offers a range of advantages including residency and employment rights for the entrepreneur/founder and their family members, access to the EU market, and attractive tax benefits including 12.5% corporate tax rate andIP Box regime). In addition, it provides a potential pathway to Cypriot citizenship, while maintaining a clear focus on technology-driven businesses.

2. The Digital Nomad Visa for remote professionals

If the world is your office and you have a steady minimum monthly net income of €3,500, Cyprus can be your ideal home base. This option is designed for remote professionals working for non-Cypriot employers. This renewable one-year permit grants the freedom to work for non-Cypriot employers or clients while residing in Cyprus, and includes family reunification privileges.

3. The EU Blue Card for non-EU high skill talent professionals

Designed for the best and brightest non-EU professionals with advanced qualifications, the EU Blue Card simplifies the move for experts in their field. It offers highly skilled personnel the opportunity to work and reside in Cyprus, benefit from visa-free travel within the EU for business purposes, and access a simplified family reunification process.

4. Employment with Cyprus Company, with foreign participation and foreign investment

Cyprus is an ideal hub for companies looking to establish a regional or global presence. This scheme is suitable for non-EU investors and companies wishing to set up presence, relocate headquarters or transfer business functions to Cyprus. It applies to companies majority-owned by non-EU nationals (>50%); or minority-owned with shares of at least €200,000; as well as listed companies; Cypriot maritime and innovation firms, and licensed educational institutes. The scheme enables companies to employ non-EU staff trough an efficient process, granting residency and employment permits for employees and their families, while also providing access Cyprus’ competitive tax regime.

5. Permanent Residence Permit by Investment for investor

Intended for individuals seeking a fast-track process and a lifetime solution, this option is available to those who invest at least €300,000 plus VAT in real estate, company shares, or collective investment units. It offers a swift residency approval within months, covers immediate family members and potential adult children, and provides lifetime residency validity, align with a pathway to citizenship.

6. The Temporary Residence (Visitor) Permit

Perfect for those who want to enjoy the island without engaging in local employment. A one-year permit, renewable annually, ideal for retirees or individuals with steady international income streams, with no local employment permitted.

Why Cyprus?

Cyprus’ strategic location, full EU membership, developed legal system, competitive corporate income tax rate, favourable income tax regime, well-educated workforce and business-friendly environment make Cyprus an ideal country to establish a business presence.

The country offers an enviable combination of climate, business and culture and many incentives for relocation. Cyprus boasts an advanced economy and a high human resource development index (HDI) with regards to living and quality of life.

Why work with us?

Relocating is more than meeting requirements. It is about choosing the right strategy, ensuring compliance, and creating a foundation for long-term success. Our dedicated Global Employer Services - Mobility & Immigration team offers:

• Tailored advice to identify the relocation route that fits your profile and goals.
• End-to-end support through the application process.
• Integrated tax, legal, and business advisory to maximize long-term benefits.

With Deloitte as your trusted partner, you benefit from expert insights, a global network, and comprehensive immigration services, ensuring your journey to building and thriving is seamless and successful.

Published in cbn.com.cy