Incentives to Attract Talent and Promote Headquartering in Cyprus - September 2022

Building on the Cyprus government’s strategic plan to attract foreign businesses to establish or expand their activities in Cyprus, new provisions have been implemented with respect to setting up corporate headquarters in Cyprus, employing overseas workers in Cyprus, and “Digital Nomads” wishing to operate from the island.

These provisions apply to:

  • Foreign companies operating in Cyprus, or foreign companies intending to relocate to Cyprus or to operate independent offices in Cyprus;
  • Public companies listed on any recognized stock exchange;
  • Cypriot shipping companies;
  • Cypriot high-tech innovative companies;
  • Cypriot pharmaceutical companies or Cypriot companies active in the sectors of biogenetics and biotechnology.

Please read our memo to learn more.