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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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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.

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Empowering Businesses: EU IPO offers funding for SME in trademark and design applications

The EU Intellectual Property Office (EUIPO) has launched the Ideas Powered for Business SME Fund, a €20 million grant scheme supporting small and medium-sized enterprises in protecting their intellectual property rights. The programme offers reimbursement for IP pre-diagnostic services and up to 50% funding for trademark and design applications at national, regional and EU levels. The initiative aims to encourage innovation, strengthen branding and improve market access for SMEs across the European Union.

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Cyprus Tax Guide 2026

Cyprus has implemented targeted tax reforms effective from 1 January 2026, updating key areas of corporate taxation, personal taxation, dividend taxation, and tax residency rules.

Careers

ServPRO Jobs: Finance Professional

On behalf of our client, a leading organisation in the ICT sector, ServPRO Accountants & Consultants is seeking to recruit a capable and detail-oriented Finance Professional to support contract management, invoicing, trade finance operations, and financial reporting activities.

Client Alerts

UBO Register (Republic of Cyprus): Changes in Penalties & Deadlines

The Department of Registrar of Companies and Intellectual Property (DRCIP) of the Republic of Cyprus has announced the following changes to the penalties and deadlines governing the Ultimate Beneficial Ownership Register (UBO Register).

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Cyprus Launches BSC: Streamlined Support for Strategic Investors

Cyprus has officially launched the Business Support Centre (BSC), a centralised, investor-oriented initiative broadening the scope of the Business Facilitation Unit (BFU).

Careers

ServPRO Jobs: Accounting Team

ServPRO Accountants & Consultants is looking to hire a dedicated and detail-oriented Accountant to join our professional team in Nicosia.

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Cyprus: A Prime Destination for Former UK Non-Doms

In line with a key electoral promise, the newly elected Labour government in the United Kingdom, under Chancellor Rachel Reeves, has moved forward with the abolition of the UK’s long-standing non-domicile (“non-dom”) tax regime.

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The CIO World names ServPRO’s Founder & CEO, Petros Theodotou, Cyprus’ Most Influential Business Leader You Need to Know

ServPRO is excited to announce that its visionary Founder & CEO, Petros Theodotou, has been named one of Cyprus’ most influential business leaders in prestigious magazine, The CIO World: Cyprus’ Most Influential Business Leader You Need to Know.