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Six reasons why Cyprus is attracting expats and digital entrepreneurs

pafos harbout 002
Pafos harbour

Cyprus is becoming home to many internet entrepreneurs and business-owning expats who are attracted by both the financial advantages and relaxed Cypriot lifestyle. 

We spoke to the founder and CEO of Financer.com, Johannes Larsson about why he moved to Cyprus in 2018 and runs a global company from his Paphos office.

1. Strategic location for doing business

In the 2022 world of digital entrepreneurs and remote companies, location is becoming less about where the industry and jobs are and more about where people find the best quality of life. For entrepreneurs who want to be located within the EU, benefiting from the Euro, single market, and customs union, Cyprus offers a great option. 

Ideally situated within a short flight from the UK, mainland Europe, Russia, the Middle East, and North Africa, global business owners can benefit from great travel links and a convenient timezone. 

2. Networking opportunities

Young entrepreneurs away from home are particularly drawn to the business community that Cyprus offers. Business owners know that your network often becomes your net worth, and it’s crucial to surround yourself with successful and inspiring peers if you want to get to the next level.

“I regularly attend the Paphos meetup (Blunchers) as it’s a good opportunity to mix with like-minded business people living in the area. There are also regular coding and web development meetups in Limassol and Nicosia (CyprusJS).” Johannes shared in his blog post about living in Cyprus

3. Tax efficient 

Fair and reasonable taxation laws attract new entrepreneurs to Cyprus every year. Johannes, who is originally from Sweden, is happy to help other business owners get accustomed to the Cypriot tax system, knowing that many business owners worry about making mistakes with their taxes when they relocate.

“There have been many changes in the Cypriot tax structure over the years. However, there are still many benefits of being tax-registered in the country.” Johannes tells his readers. 

4. Warm weather and beautiful nature

The year-round warm temperatures and sunny climate are another tick for entrepreneurs who like to spend their downtime outside in nature, living an outdoor lifestyle. 

Johannes, who says Cyprus has the best weather in all of Europe said upon moving to the Paphos region, he, “fell in love with the nature and spaciousness of the area”. 

With a glorious coastline and an abundance of greenery, Johannes went on to describe Paphos as “A perfect hotspot for anyone wanting to move to Cyprus in the hope of finding relaxation and a slower pace of life”.

5. Affordable luxuries

In comparison to other European countries, the cost of living is low throughout Cyprus. Being able to enjoy the local cuisine and amenities even on a budget means entrepreneurs at the beginning of their journey can experience a high quality of life. 

Many internet entrepreneurs can live a more luxurious lifestyle in Cyprus than they could in their home countries, swapping out shared apartments for poolside villas.

6. Low rates of crime 

Entrepreneurs away from their home countries generally want to stay out of trouble and focus on growing their businesses. Cyprus’s low crime rate offers a safe haven for those of whom safety is a major priority, including young families. 

The range of international languages widely spoken in Cyprus, including English, Russian and German will make a variety of visitors feel at home and less vulnerable.

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