Fuilenews 14 November 2022
The government's initiatives and policies that highlight Cyprus as an "ideal destination" for foreign businesses and talents were presented in London by the Minister of Interior Nikos Nouris.
Mr. Nouris addressed the audience of the international business conference entitled "Business Orientation Cyprus 2022", hosted from Monday morning in a hotel in the British capital.
"In this year of challenges and data created by the pandemic and with the consequences of the recent economic crisis still fresh, we are confident that our new initiatives and policies to attract businesses and talent create real new opportunities for Cyprus. The Government and the Ministry of Interior will continue to work tirelessly to promote Cyprus as an ideal destination for business establishment and development. Our main priorities are the reduction of bureaucracy by adopting fast and smooth procedures, efficiency, digitalization and optimization", the Minister summed up.
In his presentation, he focused, among other things, on the operation of the Company Facilitation Unit, which now acts as a point of contact for foreign businesses. He said 1,200 companies have registered in Cyprus through this unit, many of them from the UK.
In this context, he presented the "broad and attractive" tax incentives offered by Cyprus, as well as the revised policies regarding the establishment in Cyprus of foreign employees of these companies.
He noted that 147 visas have also been granted to "digital nomads" from outside the European Union.
Mr. Nouris then referred to the accelerated procedure for the issuance of building permits for both residential and commercial use, as well as for the establishment or transfer of a business headquarters in Cyprus, the bill for the acceleration of the procedures for the approval of strategic investments and the reform for the reduction of bureaucracy at local government level.
He also stood on the increase in real estate sales contracts in 2022, by 36% compared to last year and by 26% compared to 2019, i.e. before the pandemic, on the regeneration and revitalization of the old city of Nicosia and on the upgrading of the Shopping Centers of the Cypriot embassies in 42 countries.
Finally, he emphasized on renewable energy infrastructure projects and the acceleration of the "green transition" by increasing Cyprus' international connectivity in terms of electricity and gas transmission and by liberalizing the energy market.
The Archbishop of Thyateira and Great Britain, Mr. Nikitas, who addressed the conference, said that in Cyprus things seem "to work", pointing out the favorable conditions for investment in the country.
He did not fail to say that the international community must support Cyprus just as it has supported Ukraine.
Deputy High Commissioner Spyros Miltiades highlighted the strong economic, commercial and business ties between Cyprus and the UK.
The conference organized by the UK-Cyprus Business Association examines through presentations and discussion panels the opportunities and conditions for investment in various sectors of the Cypriot economy.
