The Client
Mr. B.Y. is a third-country national and successful entrepreneur in the IT sector. In 2024, he decided to relocate part of his business operations to Cyprus, seeking a stable environment within the EU that could offer both business advantages and family security. After careful evaluation, he selected Eurofast as his trusted partner to guide him through the investment and residency process.
The Challenge
Cyprus had discontinued its “Golden Passport” citizenship-by-investment programme in 2020 after widespread misuse and introduced a new, transparent framework, Regulation 6(2), in 2021 (further updated in 2023). The new regime focuses on attracting sustainable foreign investment while ensuring strict compliance and due diligence.
For investors like Mr. B.Y., navigating this new framework required detailed understanding of its qualifying investment routes and the implications for permanent residency. The challenge was to design a structure that would not only meet the programme’s eligibility criteria but also align with his business expansion goals and family relocation plans.
The Eurofast Solution
Eurofast provided comprehensive guidance on the Regulation 6(2) process, investment options, and documentation requirements. After evaluating all available routes, Mr. B.Y. chose to invest a minimum of €300,000 in his newly formed Cyprus-based IT subsidiary, one of the eligible investment categories under the regulation.
The Eurofast experts supported him throughout the procedure, from company formation and staffing (nine on-site employees and two remote workers) to tax registration, residency application, and coordination with local authorities. The process was efficiently managed to ensure compliance with all legal and administrative obligations.
The Results
With Eurofast’s ongoing support, Mr. B.Y. and his family successfully obtained permanent residency in Cyprus, extending also to his spouse and two children. The family has since relocated to Nicosia, where they enjoy full access to public healthcare, banking, and educational institutions in both Greek and English.
The impact
- Permanent residency for the entire family without the need for renewal (children remain eligible up to age 18 or 25 if dependent students).
- Ability to manage and receive dividends from his company.
- Corporate tax rate of 12.5% and eligibility for Non-Domicile (Non-Dom) exemptions on worldwide dividends and interest for up to 17 years.
- Residence in a stable, EU jurisdiction with a high quality of life, affordable living costs, and a strategic geographical position.
What’s Next
After residing in Cyprus for seven years under this framework, Mr. B.Y. and his family will become eligible to apply for Cyprus citizenship through naturalisation, provided they meet the relevant criteria.
This case demonstrates how Regulation 6(2) can serve as a powerful gateway for entrepreneurs seeking to combine business expansion with personal and family stability.
At Eurofast, we remain committed to assisting investors in navigating complex immigration and tax structures — turning opportunities into lasting success stories.