We aim to advise our clients on all fundamental questions and to assist on the preparation of all necessary documents.
Companies of Foreign Interest

Companies of Foreign Interest

Our purpose is to make this process as easy and as fast as possible for our clients.


Headquartering your business and relocating to Cyprus is now easier than ever before.

Due to numerous regulatory reforms which recently took place, foreign companies can now be established in Cyprus quickly and efficiently, without losing their employees.

This is extremely useful for foreign entrepreneurs who wish to expand their business activities or for those wishing to enter the European market.

As of January 1st, 2022, the Fast-Track Business Activation mechanism has evolved into the Business Facilitation Unit (BFU). Its purpose is the quick registration of Cyprus companies as a foreign interest company. It is worth noting that the registration and incorporation of eligible companies is completed within 7 working days.

We aim to advise our clients on all fundamental questions and to assist on the preparation of all necessary documents for the submission of:

  • foreign interest company registration;
  • BCS visa applications; 
  • family reunification applications.

We undertake to:

  • submit the complete application along with all the necessary supporting documents to the authorities on our client’s behalf;
  • monitor the status of the application; 
  • act as a liaison with the authorities during the examination of the application.

Our purpose is to make this process as easy and as fast as possible for our clients.

The types of companies which qualify as companies of foreign interest, include the following:

  • The majority of the company’s shares are owned by third-country nationals; (It is noted that in the event that the percentage of the foreign participation in the share capital of the Company is equal to or below 50% of the total share capital, the Company is eligible when this percentage of the share capital represents an amount equal to or greater than the amount of €200,000);
  • Public companies registered on any recognised stock exchange;
  • Companies of international activities (formerly offshore), which operated before the change of the regime, whose data are held by the Central Bank;
  • Cypriot shipping companies;
  • Cypriot high-tech, fintech / innovation companies;
  • Cypriot pharmaceutical companies or Cypriot companies active in the fields of biogenetics and bio-technology;
  • Companies whereby the majority of the total share capital is owned by persons who have acquired Cypriot citizenship by naturalization based on economic criteria, provided that they prove that the conditions under which they were naturalized continue to be met.

The tax benefits of relocating to Cyprus are to be enjoyed by both corporations and individuals:


  • The corporate tax rate is 12.5% on any resulting net profits;
  • Royalty income from qualifying IP assets (i.e. patents) can be taxed under the “IP Box” with effective taxation as low as 2,5%;
  • Companies established in Cyprus have the ability to claim tax credit on taxation paid abroad on foreign income, provided that the income is taxable in Cyprus.

Relocated Employees

There is a tax exemption of 50% of the Taxable Income derived from Employment in Cyprus subject to the fulfilment of the following conditions:

  • The relocated employee must receive income from employment of at least €55.000 gross per annum;
  • The above exemption applies if the employee was not a Cyprus tax resident in the preceding 12 months before the commencement of employment;
  • The exemption is applicable for a maximum of 17 years.

Tax Residency

Tax Resident Individuals are taxed in Cyprus on their worldwide income.

An individual who spends at least 60 days in one or more periods in Cyprus is considered as a Tax Resident of Cyprus subject to the fulfilment of all the following conditions:

  • Does not spend more than 183 days in one or more periods within a tax year in another country and is not considered as a tax resident in another jurisdiction;
  • Maintains an owned or rented property in Cyprus; 
  • Is an employee or Director of a Cypriot company.

Family Reunification

The answer is affirmative; spouses whose family members have obtained a residency and work permit in Cyprus, and who receive a minimum gross monthly salary of 2,500 EUR (excluding support staff) have the right to immediate and free access to the labour market.

Work permit and residency permit under the fast-track procedure shall be obtained within 4-6 weeks from the date of submission of an application.


After 5 years of residence and work in Cyprus, third country nationals have the right to apply for naturalization. In case of proven knowledge of the Greek language, third country nationals have the right to apply for naturalization after 4 years.