There has never been a better time than the present to launch a technology business in Cyprus.  Having firmly established Cyprus as an international finance hub, in recent years government attention has turned to the promotion of Cyprus as a hub for the provision of digital and electronic services and as the ideal venue for high tech ‘start-ups’.  This promotion has met with some success and included the introduction of an IP Box regime and various corporate and individual tax incentives. 

To boost the island’s new investment drive, in late 2021 the Cyprus government released an Action Plan which includes initiatives aimed at delivering on the government’s promise to foster a business-friendly environment and which target the ‘high tech’ sector.  The Action Plan introduces, inter alia, new tax incentives, changes to immigration rules for highly qualified third country nations and their dependents, and a  “Digital Nomad Visa Scheme”. Alongside this the ‘Cyprus Equity Fund’, managed by the European Investment Fund will soon be operational with a mandate to invest mainly in start-up and innovative Cypriot companies.

The help available for high tech start-ups in Cyprus is now considerable and the Tech Law team at Elias Neocleous & Co LLC is the ideal partner to ensure that you access it successfully. Our highly regarded multi-disciplinary team of lawyers, accountants, tax experts, IT specialists and cybersecurity consultants can provide knowledgeable and proactive support across the full range of start- up issues leaving you free to concentrate on your business. With our extensive history of helping companies develop and a lengthy commitment to investing in technology we understand what it takes to be a winner.