Cyprus is proving to be a top destination for businesses looking to set up their headquarters in a thriving EU destination, as the country welcomes established and growing companies. Starting and running a business from Cyprus has proved easy to implement, with low set up costs and fast filing, along with a well-established legal framework for companies to implement and favourable business tax policies.

In the past 12 months over 6,000 businesses have relocated to Cyprus or established their core EU operations on the Mediterranean island, according to Leptos Estates, the country’s largest residential and commercial developer.

The Civil Registry and Migration Department announced that it has received 9,090 in 2023 applications for relocation from international companies since the government’s strategy for attracting businesses and talent came into force since January 2022, with 97% of those applications having already been processed.

Pantelis Leptos, co-president of the Leptos Group, said: “Cyprus offers a wide range of opportunities for those wanting to live and set up their business there. With a strong ex-pat community and a range of tax benefits and exemptions, it is possible to set up a business in Cyprus in 30 days.”