Relocation to Cyprus
Updated: Sep 1, 2022
Thinking of relocating and working in Cyprus? We don’t blame you! Cyprus is a highly attractive jurisdiction not only to set up and run your business, but also to live and enjoy the benefits of the island life.
Cyprus, since antiquity, was known as the crossroad of 3 continents – Europe, Asia and Africa. Located in the East of the Mediterranean Sea, the island enjoys a temperate climate with hot and dry summers and mild winters. Due to its strategic location, and despite its small size, the island has established a strong reputation as a “centre of excellence” and a dynamic business hub in the European Union, while it is also attractive to multicultural tourists for its sunny weather and famous beaches.
According to several studies, Cyprus is ranked one of the safest countries in the world with very low levels of crime. It also offers high quality education, from pre-school to university, and excellent and widely accessible health care to all residents.
Even though the native language is Greek, English is widely spoken all over the island and is the predominant business language, making the communication with locals quite easy for foreigners.
Combining the above with the tax benefits offered for foreigners and the advanced banking system, is what makes Cyprus a very attractive jurisdiction to relocate to, for both businesses and individuals.
How we can assist you
Flexi offers tailored solutions to both businesses and individuals wishing to relocate in Cyprus. We are here to guide you through this journey and our experienced professionals are here to address all your needs from A to Z.
1. Preparation of a strategic plan with a step-by-step relocation process.
2. Tax planning
3. Consultation on visa requirements for the individuals, their families and employees
4. Offer options for temporary accommodation
5. Offer advice on local schools
B. Immigration Procedure
1. Advice on immigration matters and residence/work permits and business/travel visas (for more info and the particularities of the residence/work permits and visas please refer to our article Cyprus Visas and Residence Permits)
2. Collection of required documents for all applications
1. Advice on housing options
2. Legal assistance with drafting and reviewing of contracts and/or agreements and any other legal documents in respect to the purchase or rental of a residence
D. Personal taxation
1. Advice on tax residency, tax benefits, personal taxation etc. (for more info and the particularities please refer to our article High Net Worth Individuals Relocating in Cyprus)
2. Preparation of relevant applications
3. Submission of tax forms to the authorities
E. Travel arrangements
1. Arrangement of tickets from and to Cyprus and/or elsewhere
2. Arrangement of hotel accommodation to the destination of choice
F. Family support
1. Advice on job opportunities for partner and suggestion of recruitment agencies
2. Advice on civil marriage or domestic partnership requirements
1. Arrangements for medical and life insurances for individuals
2. Arrangements for employer’s liability insurance
H. Setting up a business in Cyprus (for more info and the particularities please refer to our article Roadmap for setting up & operating in Cyprus)
1. Corporate structuring
2. Tax advice
3. Provision of Fiduciary services
4. Registration of company
5. Assistance on finding suitable business premises
6. Assistance with hiring of suitable personnel
7. Opening and management of bank accounts
8. Compliance with local authorities
9. Accounting and auditing services
10. Payroll services
I. Investment planning and management
1. Investment planning and advice
2. Succession and estate planning
3. Management of investment portfolio
*DISCLAIMER: This article and its publication are intended to provide a brief introduction and act as a general guide. This is provided for information purposes only and cannot be utilized as a substitute for professional advice. This document does not represent a legal opinion and one must not rely on it without receiving independent advice based on the particular facts of its own case. No responsibility is accepted by the author or the publishers for any loss suffered from acting or refraining from acting based on the contents of this publication.
Start a conversation with us today to find out how you can benefit from a relationship with Flexi Group.
Please get in contact with our Head of Business Development:
Mrs Daniella May / Head of Business Development
Tel.: + 357 7000 2 5555 / + 357 22 87 57 55
We also organize calls using Skype. Our flexi Skype ID is firstname.lastname@example.org