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Cyprus Strategy for Attracting Companies Including Tax Incentives

27 October 2021

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Proposed Changes

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Cyprus

The Cyprus Ministry of Finance has issued a release on the strategy for attracting companies to Cyprus, which was presented by Finance Minister Constantinos Petrides on 15 October 2021. The strategy includes certain tax incentive measures as follows: An extension of the 50% tax exemption for investment in certified innovative companies, including for corporate investors (the exemption was previously in force until June 2021 and limited to natural persons); An extension of the existing 50% tax exemption for non-residents that become resident employees with salary income of at least EUR 55,000, including an extension of the benefit from 10 years...