How can foreign investors utilize the new Business Facilitation Unit to gain residency in Cyprus?

Question

How can foreign investors utilize the new Business Facilitation Unit to gain residency in Cyprus?

I've heard Cyprus has launched a new business unit that allows foreign companies to open their franchise in the country and bring in their foreign staff. How much investment would be required if I wish to open my company's franchise and gain residency for myself and employees via this route?

Answers

Celia Pourgoura CA Advocates (Pourgoura & Aspri LLC) · Answer 1 · 2021-10-18T10:53:20Z

Foreign interest companies need 200,000 euros in capital, which is a working capital, in order to obtain this status. Regarding the business facilitation unit, we are not still clear on the guidelines as to how this will work as this has only been announced on Oct. 15 and it will start operations in January 2022. You can, however, obtain the status as a foreign interest company irrespective of the business facilitation unit.

How can foreign investors utilize the new Business Facilitation Unit to gain residency in Cyprus?

Answers

Celia Pourgoura

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