Question 1

1. Why choose Cyprus as a business and relocation destination?

Accepted Answer

Cyprus offers one of the lowest corporate tax rates in the EU (15%) and has a network of double tax treaties with over 40 countries.
The legal and business environment is robust and based on English common-law principles, making it familiar for international entrepreneurs.
Geographically and strategically located between Europe, Asia and Africa, Cyprus serves as a gateway for international trade, investment and relocation. 
Quality of life for you and your family: English-friendly schooling, sunshine, EU access, excellent connectivity.

Question 2

2. Can anyone register a company in Cyprus?

Accepted Answer

Yes. Regardless of nationality or residence, individuals may set up a private company in Cyprus. You’ll need at least one director, one shareholder, a company secretary and a registered office in Cyprus.

Question 3

3. What are the key steps and timeline for company formation?

Accepted Answer

Typical steps:
 • Reserve the company name and prepare incorporation documents.
 • Submit to the Registrar of Companies; in many cases the company can be incorporated within 1-2 weeks.
 • Open a bank account, register for VAT if needed, and appoint any required Cyprus-resident directors if you want full tax treaty and substance benefits.

Question 4

4. What are the ongoing obligations after incorporation?

Accepted Answer

Filing audited annual financial statements and the annual return to the Cyprus Registrar. 
Corporate tax at 15% on net profit (subject to conditions) and other compliance (e.g., registered office, nominee services if used).
If your company claims Cyprus tax resident status and relies on double tax treaties, you’ll need to ensure management & control is effectively in Cyprus.

Question 5

5. What is the “Non-Dom” / tax-resident status for individuals?

Accepted Answer

Under Cyprus tax law, an individual can become tax resident via the 183-day rule (spend ≥183 days in Cyprus) or the 60-day rule (spend ≥60 days and meet certain conditions).
Being a tax resident but non-domiciled (i.e., you have not been Cyprus tax resident for 17 of the last 20 years) gives you significant tax advantages: e.g., exemption on dividends and interest for up to 17 years.

Question 6

6. What are the main tax benefits for non-dom individuals?

Accepted Answer

Exemption from Special Defence Contribution (SDC) on dividends/interest for non-dom tax residents.
No inheritance tax, no wealth tax, no gift tax in many cases. 
Attractive for entrepreneurs, investors and high-net-worth families looking for relocation + business base.

Question 7

7. Do I have to live in Cyprus full-time?

Accepted Answer

Not necessarily. Under the 60-day rule you can become tax resident in Cyprus while spending part of your time elsewhere as long as you meet the conditions:
 • Stay at least 60 days in Cyprus within the tax year. 
 • Have a permanent home in Cyprus (owned or leased).
 • Do not become tax resident of another country in the same year.

Question 8

8. Is opening a bank account in Cyprus required?

Accepted Answer

Yes, a local bank account is typically part of the set up if you are operating through a Cyprus company. Many clients choose to open an EU-based account or international account as part of the strategy, depending on their business model.

Question 9

9. Are physical presence or office premises required?

Accepted Answer

To access certain tax benefits (via substance requirements), it may be needed for the company to demonstrate “effective management & control” in Cyprus — e.g., majority of directors resident in Cyprus, board meetings held in Cyprus, a local office, etc.

Question 10

10. How quickly can we move and scale?

Accepted Answer

With the right structure and professional coordination, clients can often go from strategy to execution in a matter of weeks: company registration, residency application (if needed), bank account set up and operational readiness — especially when utilising experienced local partners.

Question 11

11. What costs should I expect?

Accepted Answer

Typical incorporation costs vary depending on complexity and services. For example, a simple company formation may range from €5-6,000 including fees and service provider costs. Annual maintenance costs (audit, registered office, secretarial) should also be budgeted.

Question 12

12. What are typical risks or things to watch?

Accepted Answer

Ensure your business model is clear and permissible under Cyprus law (some regulated activities require special licences).
Substance requirement: If you claim treaty benefits, make sure decision-making is genuinely in Cyprus, not just nominal.
Tax residency: simply owning a house isn’t enough — you must meet the criteria (days, ties, etc.).
Bank account opening delays: banks do have due diligence processes; having proper documentation ready speeds things up.
Regulatory changes: Always keep an eye on evolving EU/OECD standards (e.g., anti-tax avoidance, economic substance rules).

Question 13

13. How does Bennett Cyprus Advisory help?

Accepted Answer

We act as your direct connection to Cyprus — with American clarity, Cypriot expertise.
We simplify: company registration, non-dom / residency planning, EU banking & accountants, property or office coordination, ongoing advisory.
We manage communication discreetly, step by step — fast, compliant, and right from the start.

Bennett Cyprus Advisory

Strategic Business & Residency Structuring For EU and US Founders, Investors & Global Families

For starters:

​Cyprus boasts one of Europe’s lowest corporate tax rates (15%)

Extensive double-tax treaty network; useful for international trade and structuring

Business-friendly legal system based on English common law

Popular for startups, international companies, consultants, and holding structures

Services Overview

Company Structuring & EU Integration

Residency Facilitation to Non-dom Status

Relocation Guidance & Support Services

Advisory Network We don’t outsource. We orchestrate.

FAQ

1. Why choose Cyprus as a business and relocation destination?

2. Can anyone register a company in Cyprus?

3. What are the key steps and timeline for company formation?

4. What are the ongoing obligations after incorporation?

5. What is the “Non-Dom” / tax-resident status for individuals?

6. What are the main tax benefits for non-dom individuals?

7. Do I have to live in Cyprus full-time?

8. Is opening a bank account in Cyprus required?

9. Are physical presence or office premises required?

10. How quickly can we move and scale?

11. What costs should I expect?

12. What are typical risks or things to watch?

13. How does Bennett Cyprus Advisory help?

Rental or property ownership contract

Income from abroad (bank statements or dividends, roughly €2,000+ per month per adult, more for dependents)

Medical insurance

Clean criminal record

Often used as a bridge until you obtain permanent residency

​B. Permanent Residency (Investment Route) Category F: Based on sufficient and stable foreign income (e.g., pension, remote income, business dividends).

Fast-Track (Reg 6.2): Requires €300,000+ investment in property, company shares, or local business.

Processing time: ~2–3 months

Allows family members to be included (spouse & dependent children)

No work in the local labor market, but you may run your own company

Pricing

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Private Strategy Consultation

Cyprus Residency Structuring

Cyprus Company Formation (Premium)

Banking & Financial Onboarding

Annual Government & Corporate Compliance

Optional Services

Estimated Total Investment (First Year)

Our Approach

Strategic Business & Residency Structuring
For EU and US Founders, Investors & Global Families

Cyprus boasts one of Europe’s lowest corporate tax rates (15%)

Advisory Network
We don’t outsource. We orchestrate.

B. Permanent Residency (Investment Route)
Category F: Based on sufficient and stable foreign income (e.g., pension, remote income, business dividends).