A branch of a foreign company, which the management plans to register in the Republic of Cyprus, will be entitled to benefits, favorable working conditions that apply to various economic entities around the world.
- Memorandum of the organization;
- A certificate confirming the registration of a business in your country;
- List of data on owners, directors;
- Address, name, at least one person who has the citizenship of the Republic of Cyprus (he must hold a managerial position, have the right to make various decisions on behalf of the organization);
- The name of the future division of the company in Cyprus.
ALL DOCUMENTS NEED TO BE CHECKED, BE TRANSLATED INTO GREEK BY PROFESSIONALS AND CERTIFIED BY NOTARY AND THE REGISTRAR.
- The allowed number of people for this category is no more than 5;
- The minimum monthly wage is 3872 euros (excluding taxes).
Core staff, deputies, supervisors, other managerial positions:
- The allowed number of people in this category - no more than 10 people;
- The minimum monthly wage is 1936 euros (excluding taxes).
- There are no restrictions on hiring foreigners in this category. However, you need to get approval in advance through the Ministry of Labor.
- Foreigners who hold senior positions in companies with foreign capital can apply to move their family to Cyprus. This applies to spouses, as well as children under 18.
The client can get a preliminary free consultation via ZOOM or Skype
A foreigner must meet the following requirements:
- having Permanent Residence in Cyprus;
- official work in Cyprus or the presence of your own business in the Republic;
- do not have the status of a tax resident from other states;
- not to be in other countries for the last six months;
- stay in Cyprus for 2 months from the tax year.
The foreign citizens who were able to obtain tax status under one of the rules in Cyprus must pay income tax, even if it comes from other countries. However, there are a few exceptions:
- The profits one makes from the sale of securities are not subject to tax. "Securities" in this case includes stocks of various organizations, bonds, debt obligations, and options;
- a foreign citizen who has obtained tax status but does not reside in the territory of the Republic is not subject to taxation on dividends from other countries of the world, interest from shares of foreign companies;
- profits a person receives from working abroad is not taxable by the income tax in Cyprus. However, he must work in another country for more than 3 months in order to do so.
THERE IS ALSO A 50% DISCOUNT THAT CAN BE USED TO PAY INCOME TAX. FOREIGNERS WHO EARN MORE THAN 100 THOUSAND EUROS ON THE TERRITORY OF CYPRUS ARE ENTITLED TO IT. AT THE SAME TIME, A PERSON SHOULD NOT HAVE HAD AN OFFICIAL TAX STATUS BEFORE HE STARTED WORKING IN THE REPUBLIC.
If you have any questions, please contact our specialists by WhatsApp/Telegram, email or a feedback form and request a free consultation on all points of interest.