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ServPRO promotes Cyprus as a Destination for Business Relocation & Investment

ServPRO participated as an exhibitor and speaker at CODEWAY EXPO 2022 in Rome, Italy, promoting Cyprus as an attractive destination for business relocation, investment and international operations. The presentation highlighted Cyprus’ tax incentives, Business Facilitation Unit (BFU), Digital Nomad Visa programme, fast-track residency procedures and growing reputation as a hub for technology, innovation and multinational companies.

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ServPRO presents “Cyprus: a Destination for Business Relocation & Investment” at International Exhibition CODEWAY EXPO 2022

ServPRO participated in CODEWAY EXPO 2022 in Rome, Italy, presenting Cyprus as an attractive destination for business relocation, investment and international expansion. The presentation focused on Cyprus’ tax incentives, Business Facilitation Unit (BFU), headquartering opportunities, Digital Nomad Visa programme and fast-track residency procedures for foreign companies and employees seeking to establish operations in Cyprus.

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Republic of Cyprus advances AML & CTF Compliance Level, says Moneyval

The Republic of Cyprus has made notable progress in strengthening its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) framework, according to MONEYVAL, the Council of Europe’s monitoring body. In its follow-up assessment, Cyprus achieved strong compliance across all FATF recommendations, with no non-compliant ratings, reflecting the effectiveness of recent regulatory reforms and the government’s commitment to enhancing financial transparency and combating financial crime.

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Cyprus: The All-in-One Film Destination

Cyprus offers an attractive all-in-one filming destination with competitive grants, tax incentives, VAT refunds, and business benefits through the Cyprus Film Scheme. Backed by government support, modern infrastructure, stunning landscapes, and favourable tax regimes, Cyprus provides excellent opportunities for film and television productions. ServPRO assists businesses and production companies throughout the application and advisory process related to the Cyprus Film Scheme.

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The New CIF Framework in Cyprus

The new prudential framework for Cyprus Investment Firms (CIFs) entered into force as part of the EU Capital Markets Union initiative, introducing the IFR Regulation and IFD Directive. The framework establishes a new classification system for investment firms based on size, risk and systemic importance, and imposes updated capital requirements, K-factor calculations, liquidity standards, reporting duties and governance obligations. These changes significantly strengthen the regulatory environment for investment firms operating in Cyprus and across the EU.

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Cyprus defined as The Company Incorporation & Relocation Destination

Cyprus is strengthening its position as a leading destination for company incorporation, relocation and foreign investment through the Government’s 2022–2024 Action Plan. The strategy focuses on attracting international businesses and talent, particularly in sectors such as high-tech, shipping, R&D, innovation, biotechnology and biogenetics, while creating new employment opportunities and supporting sustainable economic growth. ServPRO assists businesses and individuals with the full incorporation, relocation, redomiciliation, immigration, residency, legal and tax process in Cyprus, offering a one-stop-shop for professional services.

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Action Plan for Companies to Operate & Expand their Activities in Cyprus 2022-24

The Cyprus Action Plan for Attracting Companies to Operate and Expand their Activities (2022–2024) introduces a comprehensive framework aimed at strengthening Cyprus as an international business hub. Key measures include the establishment of the Business Facilitation Unit, simplified work permit procedures for third-country nationals, tax incentives for investment and R&D, expansion of the Digital Nomad Visa scheme, and reforms supporting innovation, workforce development and corporate relocation to Cyprus.

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Action Plan for Companies to Operate & Expand their Activities in Cyprus 2022-24

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ServPRO Celebrates 10 Years of Growth & Excellence

ServPRO celebrated its 10-year anniversary in Nicosia, marking a decade of delivering high-quality professional services across accounting, audit, legal, advisory, and tax fields. The event brought together partners, clients, and associates, highlighting the firm’s achievements and future growth ambitions, including expansion into new markets and services.

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Celebrating 10 Years of Growth & Excellence!

ServPRO Accountants & Consultants proudly celebrates its 10-year anniversary, marking a decade of growth, innovation, and excellence in professional services. Founded by Petros Theodotou, FCCA, ServPRO was established as a one-stop shop offering accounting, audit, legal, tax, advisory, and consulting services under one roof for both local and international clients. Over the years, the firm has built a strong reputation for professionalism, integrity, and practical client-focused solutions across diverse industries. In 2021, ServPRO achieved several major milestones, including obtaining ISO 27001:2013 certification, joining Auditaxes International as the National Member Firm for Cyprus, and successfully implementing the Government’s Digital Transformation Program for Businesses. To commemorate this important milestone, ServPRO hosted a special anniversary event with partners, associates, clients, and guests, celebrating the relationships and achievements that have shaped the company’s successful journey over the past decade.

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Fast Track Procedure for Immigration Permits in Cyprus: Revised Criteria

Cyprus revised its fast track Immigration Permit criteria in March 2021, requiring third-country nationals to invest at least €300,000 in qualifying investments such as real estate, Cypriot companies, or investment funds. Applicants must also meet specific annual income requirements. ServPRO provides expert guidance and support throughout the Cyprus residency and immigration process.

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Establishment of UBO Register for Companies in Cyprus: Launch of Interim Solution

The Republic of Cyprus has launched the Interim Solution for the Ultimate Beneficial Ownership (UBO) Register, requiring all Cypriot companies and legal entities to record detailed information on their beneficial owners in accordance with AML legislation. The framework sets strict reporting deadlines for newly incorporated and existing entities and establishes compliance obligations aimed at enhancing transparency and preventing money laundering. Companies are advised to ensure timely registration and updates to avoid regulatory penalties.