Cyprus: Cabinet approves start-up scheme for foreign investors

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A start-up schemeaimed at attracting foreign investment to Cyprus from non-EU countries was approved by the cabinet. Vice President Constantinos Petrides said the scheme is aimed at investors who wish to found an innovative business in Cyprus.

The plan is to allow Entrepreneurs to set up their headquarters and their tax residence in Cyprus provided they:

Own a start-up capital of at least €50,000.
Undergraduate-level education.
Fluency either in Greek or English.
Have a certifiably innovative business proposal.