In recent years, Cyprus has seen a significant influx of Lebanese individuals, companies, and their families seeking safe destinations outside their home country. The island remains a top choice on their list due to its proximity to Lebanon and its role as a gateway between East and West.

As Brief reports, according to legal firms, "Cyprus is considered an attractive destination for investors, individuals, and families due to its competitive, transparent legal, financial, and regulatory framework, combined with a favorable tax policy and a strong banking system."

As they explain, the key advantages of Cyprus are:

• The applicant, along with their dependents, including parents or in-laws, can apply for and obtain permanent residency in the Republic of Cyprus for life within 3 to 6 months.

• They are eligible if they invest a minimum of €300,000 (excluding VAT) in residential or commercial real estate, or in a company’s share capital. The applicant retains the right to work in Cyprus or maintain investment funds within the country.

• This option also allows applicants to hold shares in Cyprus-registered companies.

Alternatively, with the same criteria but with approval within 16 months, they can apply through the purchase of resale property of any value. Lebanese individuals, whether residing in Cyprus or not, can also open personal bank accounts with a local bank partnered with their law firm.

To register a Cypriot company, it must be established in accordance with the laws of the Republic of Cyprus to benefit from all the advantages of operating within the EU, including a 12.5% corporate tax rate on profits, one of the lowest in Europe, along with additional tax reductions.

Moreover, shareholders benefit from no withholding tax on dividends paid to them if they are non-residents.

In the case of a Private Limited Company (Ltd.) registered as a Foreign Interest Company, a Cypriot company can employ nationals from third countries (outside the EU) if certain key conditions are met, such as:

• The majority of the company’s share capital must be held by non-EU nationals.

• The company must make an investment of €200,000.

• It must operate in independent offices in Cyprus and can employ up to 15 non-EU employees, including the shareholders themselves.

These 15 non-EU employees can live and work freely in Cyprus through residency permits, and their family members are also entitled to work and reside in the country.

A foreign interest company also enjoys a 12.5% corporate tax rate.