Relocating to Cyprus

CYPRUS

Relocation & Recruitment Advice

AP Executive is one of the most established Recruitment Agency in Cyprus, if you are looking for any type of Cyprus Jobs please do not hesitate to contact our experienced consultants. For payroll services in Cyprus contact our local office.

Overview

The Republic of Cyprus is the third largest island in the Mediterranean, and has a population of 1,141,166 (2013 estimate). It is a member state of the European Union, and is located at crossroads of Europe, Asia and Africa. This strategic location makes it a major attraction for both tourists and international businesses. This also helps Cyprus navigate through troubled waters of financial crises. Despite the previous financial and political instability, Cyprus enjoys a relatively stable economy and is recognised as a prominent financial hub. Its business-friendly tax regime and robust regulatory framework, has helped Cyprus emerge as an attractive offshore financial and investment centre. The financial service industry in Cyprus is a rapidly growing sector, broadly comprising of accountancy, wealth management, trust and fiduciary, financial advisory services, banking, insurance and legal. Along with the banking sector, it is committed to the integration of advanced technology for hassle-free and well-regulated operation across the board. Cyprus has a rich historical and cultural heritage that can be witnessed in the well-preserved archaeological sites and historical monuments. Cyprus’s national identity is divided into its two ethnic boundaries- the Greece Cypriot and Turkish Cypriot sides. Both sides strongly uphold their separate ethnic, linguistic, religious and cultural identities. The island’s dazzling beaches, pleasant climate and cultural heritage has established Cyprus as a top-rated tourist destination in the world, with tourism industry contributing a significant proportion to the country’s economy. 

Why choose Cyprus

Cyprus has all the favourable factors that contribute to making it an attractive business and finance centre. Despite going through numerous financial upheavals, Cyprus shows resilience and safeguards the attractive advantages such as low tax and strong regulatory framework that it offers to international businesses.

Its strategic geographical location makes it convenient for businesses to expand into Europe, Asia and Africa. Besides, Cyprus is well-connected with the rest of Europe and the world through air and sea links, with its three cities, Nicosia, Limassol and Larnaca serving as the prime gateways to the country.

As a member of the EU, Cyprus offers excellent education and healthcare facilities, with both private and public sector delivering high-standard services. Additionally, free and compulsory education is provided to students until the age of 15. Thus, the country’s well-qualified human resource is an asset to its growing business sector.

The government with its commitment to a market-oriented economic system and pro-business culture provides favourable and progressive environment for business growth. And thanks to the cosmopolitan culture, grasp of English language and accommodating environment, working and doing business in Cyprus is easier than any other EU nation.

Unlike other European countries, Cyprus has sunshine all throughout the year and offers the most pleasant Mediterranean climate. It has negligible air and water pollution, and is ranked very high in the Human Development Index (2013). This means the country enjoys a healthy environment and people coming to this country don’t require any prior vaccination.

Cyprus has a relaxed and easy lifestyle, yet offers a vibrant nightlife and plenty of exciting recreational opportunities.

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Requirements to set up a company

After Cyprus joined the EU, a number of new legislations have been put in place. Other EU nationals can now work self-employed or start a business without much restriction.

However, businesses have to go through a registration procedure that can take approximately one month or 3 working days. This procedure can be accelerated under certain circumstances. Moreover, it is important to decide the company structure before going for registration.

For more information:

Setting up a business

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Requirements for employees wishing to relocate

EU nationals do not require a work permit to enter Cyprus. However, for those wishing to reside in the Republic of Cyprus for more than 3 months, a residence permit needs to be obtained through the local immigration office of the Ministry of Interior Republic of Cyprus. Ideally, it is advisable to start looking for job before relocating to Cyprus. In this matter, AP Executive can assist you in finding the right job for you in the financial sector in Cyprus. For more information, click here:

Relocating to Cyprus.

 

 

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