Cyprus registered companies offering administrative services to other Cypriot registered companies need to be authorised by the Cyprus Securities and Exchange Commission (hereinafter called the ‘Commission’).
Cyprus is an ideal place for the establishment of a medical centre, due to its fine climate (combination of health care and holidays in Cyprus), the known Cypriot hospitality, the professionalism of the workforce and due to its distinctive and unique location.
Under the 1992 law, in order to prevent tax avoidance, permanent residents of Cyprus were prohibited from establishing international trusts. The concept of permanent residence was not defined in the 1992 law or elsewhere. It was unclear whether settlors could relocate to Cyprus after establishing a Cyprus International Trust, and the resulting doubt discouraged many from doing so.
The Cyprus International Trusts Law of 1992 (Law No. 69(I)/1992) remained unaltered since its enforcement back in 1992. Realising that trusts have the potential of being used as the channel for foreign investments in or through Cyprus, legislature examined the concerns and attempted to improve the already existing legal framework in such a way so that to achieve the boosting of such investments.
Acquiring Cyprus citizenship entitles a person, amongst others, to live and work in Cyprus without any restriction as well as travel without any formalities within the EU. There are essentially 4 ways in which an alien can acquire Cyprus Citizenship: (a) by naturalization, (b) investment by exemption, (c) through marriage to a Cyprus citizen, and (d) due to Cypriot origins.
Cyprus Investment Firms (‘CIFs’) may not provide investment services or perform investment activities in third country jurisdictions without first seeking the necessary prior authorisation by the Cyprus Securities and Exchange Commission.
Law 4146/2013 gives the opportunity to foreigners who intend to invest in Greece. Such residence permits are available to foreign (non-EU) natural persons (the Applicants) and the members of their family or legal persons in which such natural person(s) is the sole shareholder.