Recently, a roundtable was held on the strategy of attracting companies and talent to Cyprus. Foreign investors were invited to discuss the strategy and speak about the problems they face.
For example, foreign businessmen complained about labor-intensive procedures and the “inhuman behavior” of state bodies, expressing the hope that this will be changed in the new strategy.
Nicos Anastasiades, President of the Republic of Cyprus, said that the government is going to turn Cyprus into a reliable and competitive center for doing business by international companies, as well as create an environment in the country in which every investor can prosper.
The start of the planned program is scheduled for January 1, 2022 (if parliament approves two bills that are at the heart of the program by the end of this year).
The Cypriot government relied on examples from other countries in developing the program. Thus, Cyprus will offer foreign investors the most favorable conditions and incentives for doing business.
Source: cna.org.cy
