Registration of Foreign Interest Company

A foreign interest company before it can employee third country nationals needs to get registered at the Business Facility Unit (BFU) under the Ministry of Energy Commerce and Industry.

The majority of the company’s shares should be owned by third-country nationals.

If the majority of the company’s shares are not owned by third-country nationals (i.e equal to or less than 50%) then the company is eligible if the foreign participation represents an amount of at least €200.000.

In both cases above, the ultimate beneficial owner (UBO) must deposit an amount of €200,000 in an account held by the company in a credit institution licensed by the Central Bank (payment institutions are not included). Alternatively, the company can submit evidence of an investment amounting to €200,000, for the purposes of operating its business in Cyprus (e.g. office purchase, office equipment purchase, etc.).

If more UBOs exist, then this amount can be deposited or invested by a single UBO or collectively.

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