The Council of Ministers approved the amendments made to the Policy for the registration of Cyprus companies in the register of foreign interests; a Decision that entered into force on 12 December, 2022.
The decision amends the eligibility criteria for companies that could be registered as Cyprus companies of foreign interest and specifically includes as a criterion the company’s obligation to prove an initial investment in the Republic of Cyprus of at least €200,000, which should be proven by presenting the appropriate certificates. The relevant amount should be legally transferred by the company’s UBO(s) in the Republic of Cyprus from abroad.
You can find more details in the Government’s official website by clicking here and or read our recently amended legal briefing by clicking here.
For any assistance or further clarifications with regards to such amendments made, please do not hesitate get in touch with your usual contact person.