Since February 2022, a significant wave of Russian IT professionals, entrepreneurs, and high-net-worth individuals have relocated across Georgia, Armenia, UAE, and EU countries. Cyprus has been a top destination, particularly in Limassol.
Russia suspended the Cyprus-Russia double tax treaty in 2023. This removed the previous WHT benefits but does not prevent structuring for income that is no longer Russian-sourced. For entrepreneurs with internationally mobile income, the DTT suspension is less impactful than for those with ongoing Russian-source cash flows.
For Russian-origin founders serving international clients or holding IP, a Cyprus company provides a neutral, internationally recognised EU base. Major banks, counterparties, and investors are comfortable with Cyprus entities in a way they are not with Russian or even Georgian entities.
Cyprus offers EU rule of law, English-based contract law (inherited from the UK common law tradition), and full access to EU courts and arbitration mechanisms. For founders who need legal certainty in commercial disputes, this is a material advantage over non-EU alternatives.
Review entry basis (Category F fast-track, Cat E company formation, or standard visa), legal documentation prepared.
LTD formed, bank account opened, shareholder and director structure established.
Rent apartment in Limassol or Nicosia, register with migration office, apply for ARC (MEU1/MEU3).
Tax registration with Cyprus Tax Department, TIC issued, non-dom application submitted.
Services for relocating founders
Start your relocation today. Our team handles the structure, compliance, and residency process end to end.
Free consultation · No obligation · Reply within 2 hours
Legal Disclaimer: This page is for general informational purposes only and does not constitute legal or tax advice. Tax laws change frequently. Always seek independent professional advice tailored to your specific circumstances before making relocation or tax planning decisions.