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24 Nov, 2022

CJEU issues landmark ruling invalidating public access to UBO Registers across the EU

The Court of Justice of the European Union (CJEU) issued a landmark ruling invalidating public access to Ultimate Beneficial Ownership (UBO) Registers across the EU, finding that unrestricted access disproportionately interferes with the rights to privacy and personal data protection. The judgment is expected to significantly impact AML and corporate transparency legislation across EU Member States, including Cyprus, while shaping future amendments to EU anti-money laundering directives and beneficial ownership disclosure frameworks.

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10 Nov, 2022

ServPRO joins Cyprus’ Business Delegation to Israel: Spotlight on Investments, ICT, Shipping & Professional Services industries

ServPRO participated in the Cyprus–Israel Business Forum 2022 in Tel Aviv as part of an official business delegation organised by the Cyprus Chamber of Commerce and Industry. The event brought together key sectors including ICT, investments, shipping, and professional services, providing valuable networking and partnership opportunities.

03 Nov, 2022

The Digital Nomad Visa in the Republic of Cyprus

The Cyprus Digital Nomad Visa (DNV) allows non-EU remote workers, freelancers and self-employed professionals to live and work in Cyprus while serving clients or employers abroad. The program requires a minimum monthly income of €3,500 and offers residency for up to one year, renewable for two additional years. DNV holders may also benefit from Cyprus tax residency rules if they stay more than 183 days per year. ServPRO provides full assistance throughout the application and approval process.

News

27 Oct, 2022

Tax Exemptions for Employment Income to attract Foreign Talent to Cyprus

Cyprus has introduced tax incentives under the Income Tax Law to attract foreign professionals through the concept of “first employment.” Eligible individuals may benefit from a 20% tax exemption for up to seven years or a 50% exemption for up to seventeen years, subject to specific residency and income conditions. These measures are part of Cyprus’ strategic Action Plan 2022–2024 to enhance its competitiveness as an international business and employment hub.

News

20 Oct, 2022

Action Plan for Companies to Operate & Expand their Activities in Cyprus 2022-24: A Year in Review

One year after the launch of Cyprus’ Action Plan 2022-2024, the country continues strengthening its position as an international business and headquartering destination. The initiative includes the Business Facilitation Unit (BFU), simplified employment and immigration procedures, Digital Nomad Visas, tax incentives for businesses and employees, support for innovation and R&D, and strategic reforms designed to attract foreign investment and international companies to Cyprus.

News

13 Oct, 2022

Registrar of Companies and Intellectual Property in Cyprus makes Remarkable Advancement towards Holistic Digital Transformation

Cyprus is modernising the Registrar of Companies and Intellectual Property through the Integrated Registry Management Platform (IRMP), a major digital transformation project aimed at improving efficiency, security, and online corporate services. The initiative strengthens Cyprus’ position as an international business centre while simplifying company-related procedures.

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25 Jul, 2022

ServPRO x New York Times / Brussels Research Group on CYPRUS

ServPRO was featured in “Spotlight on Cyprus,” a special publication by The New York Times and Brussels Research Group focusing on Cyprus’ growing role as an international business and investment destination. In an exclusive interview, ServPRO Founder & CEO Petros Theodotou discussed Cyprus’ flexible business ecosystem, the country’s attractiveness for multinational companies and digital nomads, and ServPRO’s role in supporting overseas clients with practical, solution-driven professional services.

News

13 Jul, 2022

Cyprus introduces Transfer Pricing Legislation

Cyprus has introduced new transfer pricing legislation effective from 1 January 2022, aligning with OECD guidelines for multinational enterprises and related party transactions. The law establishes documentation and compliance requirements, including Local Files, Master Files, and Summary Information Tables, along with penalties for non-compliance. ServPRO assists businesses in ensuring full transfer pricing compliance and tax efficiency.

News

30 May, 2022

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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17 May, 2022

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.

News

27 Jan, 2022

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.

News

16 Dec, 2021

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.