What is a Foreign Interest Company (BCS) in Cyprus?
A Foreign Interest Company is a legal entity that is registered in Cyprus but owned or controlled by foreign individuals or corporations. It allows foreign investors to legally operate and profit from the Cypriot business environment while adhering to local regulations
Who Can Register a Foreign Interest Company in Cyprus?
Any foreign individual or corporate entity can register a Foreign Interest Company in Cyprus. There are no restrictions based on nationality, making it accessible to investors from around the world. The key requirement is that the majority ownership or control of the company must be held by foreign nationals or entities. Additionally, the company must meet certain criteria regarding the level of investment, typically starting at a minimum of €200,000 via bank transfer, and business activity.
Criteria & Benefits of Registering a Foreign Interest Company:
- Access to a streamlined process for hiring non-EU nationals (Directors, key personnel, and specialists).
- Companies in sectors like technology, IT, and similar fields can take advantage of the IP Box Regime Program.
- A minimum salary of €2,500 is required for registered employees.
- Employees of foreign interest companies are eligible to bring family members through the family reunification scheme.
Rideo Group specializes in providing full-package services for establishing Foreign Interest Companies in Cyprus. We handle every aspect of the process, ensuring that your company is set up quickly, efficiently, and in full compliance with Cypriot laws.
- Document Issuance: We manage all necessary paperwork, ensuring your company is legally recognized and ready to operate.
- Immigration Registration and Employment Benefits: We register your company with Cypriot immigration authorities, facilitating the hiring of foreign nationals and securing employment benefits.
- Labor Office Registration: No need to visit the labor office; we manage all registrations on your behalf, ensuring compliance with labor laws.
- Visa Arrangements for Employees: We provide comprehensive visa services, including work permits and residence visas, managing the process from application to approval.
- Contract Prep.
- Bringing Family Members of staff: through family reunification scheme
- Supporting Staff Acquisition: We assist in sourcing and hiring local administrative staff and other essential roles for your business.
- Ongoing Compliance and Support: We offer continuous support to ensure compliance with Cypriot laws, including assistance with annual filings, accounting, audit, tax compliance, and corporate services.