Why Saudi Investors opt for Cyprus as Their Preferred Destination

Cyprus emerges as a compelling destination for Saudi investors seeking strategic business opportunities. The nation’s international orientation, strategic geographical location, and business-friendly environment, supported by a robust tax and legal system based on English common law, underscore its appeal. As a member of the European Union, Cyprus facilitates seamless access to the European market.

In recent years, Cyprus has solidified its status as a global business hub, making it an ideal choice for headquarters, start-ups, family offices, foreign investments and family relocation. The country’s modern infrastructure, abundance of multilingual and highly skilled professionals, proficiency in English, and the gateway it provides for capital acquisition from EU and other Western investors position Cyprus as a promising regional business center poised for continued success.

The Cyprus government’s  vision for 2035 is to highlight Cyprus among the world’s premier nations for living, working, and conducting business. Notably, Cyprus has earned recognition as one of the top five safest countries globally, having delightful climate and a welcoming, multicultural population.

Furthermore, the nation’s agreeable climate, secure environment, ideal healthcare system, and a distinguished education sector have collectively attracted diverse individuals, including retirees, families and students from both the region and beyond. This influx has not only enhanced the country’s overall economic prosperity but has also positively impacted the real estate industry.

Our team of experienced lawyers specialises in helping clients navigate the complex world of investment immigration programs, providing tailored solutions to meet each client’s unique needs and goals. We work with some of the most desirable locations in terms of business climate, quality of life, and permanent residence and citizenship opportunities, ensuring that our clients have access to the best possible options for their personal and professional lives.

Permanent Residency (Fast Track) in a nutshell

• The applicant and his/her dependants can apply and obtain permanent residence in the Republic of Cyprus for a life.
• Approval within 6 to 12 months.
• The permit does not expire but it is subject to renewal.
• Eligible through investing at least Euro 300.000 (excluding VAT) in one of the following options (a) residential property (b) commercial property (c) invests in company’s share capital with the applicant maintain the right to work in Cyprus and (d) Cyprus investment funds.
• All the above option provides the right to the applicants to be shareholders in companies registered in Cyprus.

Permanent Residency (Slow Track) in a nutshell

• The applicant and his/her dependants can apply and obtain permanent residence in the Republic of Cyprus for a life.
• Approval within 16 to 18 months
• The permit does not expire.
• Eligible through purchasing a resale property of any value.

Open a bank account in a Cyprus Bank

• Individuals even are residing or not residing in the Republic of Cyprus are eligible to open a personal bank account at a local branch which our firm cooperates with.

Registration of a Cyprus Company

• The registration is quick and easy for all investors.
• A company incorporated under the laws of the Republic of Cyprus shall be benefited all the advantages of operating in EU such as 12.5% corporate tax on profits (one of the lowest in Europe) with further reductions in other taxation.
• Also shareholders benefit from no withholding tax on dividends paid to them if they are non-residents.

Private Company Limited by Shares registered also as Foreign Interest Company

• A Cyprus company can employ third country (non-EU) nationals if it meets certain basic requirements: –
• The majority of the company’s share capital must be held by third country national(s).
• Investment of €200.000 should be made in the company.
• The company should operate in independent offices in Cyprus and employ up to 15 non-EU employees including shareholders themselves.
• All 15 non-EU employees are able to work and live freely in Cyprus whilst they are employed for the Cyprus Company through receiving residency cards.
• The Company can also employee additional specialists that have specific skills.
• Family members of the employees can also work and reside in Cyprus.
• The foreign interest company benefits from 12.5% corporate tax.

Corporate Bank Account

Either Cyprus or foreign companies are eligible to open a corporate bank account in Cyprus at one of the branches that our firm cooperates with.

How we can assist you

Our team of highly experienced professionals can provide the following services:-

• Legal advice on the applicable legislation and drafting of agreements connected with the purchase of the property
• Due diligence connected with the acquisition of the selected property
• Company registration and nominee services
• Permanent and temporary residence applications
• Employments permits
• Registration of foreign interest companies for the employment of Lebanese nationals in Cyprus
• Facilitating online bank accounts
• Opening of both personal and corporate bank accounts in Cyprus.