Cyprus has been a favourite destination for relocation for many international businesses over the last few years. This comes as no surprise especially for the servicing industries which have a core expense labour cost. Cyprus having the lowest (last time we checked) employment costs in Europe and one of the highest tax free amount for salaried persons makes it a true challenger when it comes to relocation.
In addition, over the last few years Cyprus has introduced many tax and immigration incentives for Companies and their employees wishing to relocate. We mentioned a few below:
- 50% tax deduction for remunerations exceeding Euro 55,000
- remote employers schemes for EU and 3rd country nationals
- immigration incentive schemes for visas (digital nomad visa, skilled labour visa etc)
All these tax schemes can be better explained by our immigration and tax experts registered on our platform but what is of real essense is the fact that the island has made important reforms into attracting skilled talend and high tech companies with great success.
5G internet connection, great weather, hiking on the mountains, skiing activities, swimming activities, great food and weather coupled with low labour and premises costs are hard to beat and this is great news for our beautiful island.
Relevant Articles from our contributors:
- Cyprus tax benefits
- Cyprus immigration benefits
- Relocating to Cyprus
- Cyprus Immigrartion issues
See the articles section here
About Finhub
Finhub is a search engine for lawyers, accountants and immigration experts in the republic. Finhub mirrors the tendering process for quotations from service providers of the real world in the digital manner. It is a fast, clever, automated and very sophisticated search engine. With functionality such as budget, size, geographical location, expertise and many money the users (businesses in need of services) are almost guaranteed to find the perfect professional for their needs.
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