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Articles

Advantages of Opening a Trust in Cyprus

Advantages of Opening a Trust in Cyprus

The Cypriot trust law offers various tax advantages for those who want to open a trust in Cyprus. The law for Cypriot trusts and international trusts resembles the UK model for these types of financial instruments. Investors who want to open a trust in Cyprus have the following options: open…
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Workforce in Cyprus

Workforce in Cyprus

The workforce in Cyprus is characterized by high education and diversity in skills. The labor market has been shaped by the country’s economic situation and different business sectors adjusted their need for employees according to the overall economic situation in the country. The employment rate in Cyprus improved as soon…
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How to Open a Hotel in Cyprus in 5 Steps

How to Open a Hotel in Cyprus in 5 Steps

Foreign businessmen who want to open a hotel in Cyprus should know that the legislation related to the incorporation of the legal entity is similar to the general registration process applicable to all companies in Cyprus. Still, the legislation under which the accommodation industry operates requires the investors to obtain…
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Obtaining a Work Permit in Cyprus

Obtaining a Work Permit in Cyprus

Citizens from EU Member States can enter Cyprus only on the basis of a valid passport or ID card and do not have to register for any type of stay that is less than three months. If they intend to stay longer and also find a job, individuals will have…
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Obtaining Residency in Cyprus

Obtaining Residency in Cyprus

The Republic of Cyprus is a member of the European Union and any citizen of another European Union or European Economic Area (including Switzerland, Iceland, Lichtenstein and Norway) have the same residency rights as a Cypriot resident. Non-EU and non-EEA citizens must comply with different requirements for obtaining temporary or…
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Open a Branch vs.a Subsidiary in Cyprus

Open a Branch vs.a Subsidiary in Cyprus

Cyprus has a very attractive tax regime and the taxation rates are considered low by international standards. This is one reason why foreign investors choose to open branches or subsidiaries in Cyprus in order to establish the presence of their international companies. Cyprus has signed double tax treaties with more…
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Set Up an IT Company in Cyprus

Set Up an IT Company in Cyprus

Cyprus is a good location for foreign investments which are encouraged in the country. EU citizens are able to start a business in Cyprus without any restrictions. If you want to set up an IT company in Cyprus you will have to go through all the ordinary company incorporation steps.…
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Company Act in Cyprus

Company Act in Cyprus

The legislation system of Cyprus is rather similar with the one in the United Kingdom. In fact, the Cyprus Company Law, cap. 113 is considered to be based on the English Companies Act 1948. Some modifications have been made in 2000 and 2001. All foreign entrepreneurs who come to set…
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Open a Taxi Company in Cyprus

In Cyprus, there are a lot of taxi companies and individual taxi drivers, due to the increasing number of tourists who are coming here to visit the island. Taxis here can be booked by phone, there are plenty of them at airports and terminals or can even be waived from…
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