Startup Incentives

Personal Tax Incentives

Income Tax > €100,000/year
 
/ Exemption from personal income 
   tax of 50% for new residents of 
   Cyprus commencing employment 
   as from 1 January 2012
 
/ Applies for the first 10 years of 
   employment in Cyprus
Income Tax < €100,000/year
 
/ Exemption from personal income 
   tax of 20% for new residents of 
   Cyprus commencing employment.
 
/ Applies for the first 10 years of 
   employment in Cyprus
Exempt passive income for non-domiciled individuals 
 
/ Non-domiciled individuals who 
   are tax residents of Cyprus are 
   not subject to defence tax on the 
   following types of passive income 
   earned from sources both within 
   Cyprus or abroad, irrespective of 
   whether it is remitted to Cyprus
   or not:
      / Dividends
      / Interest
      / Rent

 

Start-up Incentives

 
/ Individual and Team Start-up visa scheme
 
/ Access to national and European grants and funding
 
/ Investments in innovative small businesses can be 
   deducted from taxable income, up to an annual limit 
   of €150,000
 
/ Technology companies producing IP can apply for an 
   80% tax exemption

Access to Talent

 
/ Local Talent
   / Youngest population and workforce in the EU
   / 55% of the workforce has a tertiary degree
   / Many Cypriots study abroad, mainly in UK, USA & 
      Europe
   / Booming private education sector
   / 3 public and 5 private universities
 
/ Visa-free access to European talent
   / 240 million people of workforce in the EU
   / 4.7 million European university graduates per year
 
/ Easy access to global talent