Cyprus Launches Centralized Business Support Centre to Boost Investment and Facilitate Growth
Cyprus has officially launched its Business Support Centre, a dedicated one-stop shop designed to support both Cypriot and foreign investors in establishing and expanding their operations on the island. The newly launched Business Support Centre will merge with the current Point of Single Contact of Business Facilitation Unit.
This important initiative reflects the government’s commitment to transforming Cyprus into a top-tier investment destination by:
- Streamlining licensing and permit procedures
- Reducing bureaucratic obstacles and delays
- Providing centralized access to key services under one roof
- Enhancing transparency and efficiency for investors
The Business Support Centre complements existing frameworks like the Business Facilitation Unit (BFU) and works alongside Invest Cyprus, the national investment promotion agency, to deliver end-to-end support for investors, from project planning and approvals to aftercare services.
Under the new Business Support Centre, investors will be able to receive all required information regarding their projects on a timely manner while the officers will also co-ordinate with other authorities to accelerate the acquisition of necessary approvals and licenses, without replacing the relevant regulatory authorities.
In addition, when strategic investment projects will be launched, the Unit will be able to operate as a project manager and provide guidance and support before, during and after the project is concluded.
At AGPLAW, we welcome this significant development and stand ready to assist our clients in leveraging the new streamlined procedures for:
- Large-scale investments and corporate expansions
- Business establishment and cross-border ventures
- Cyprus licensing and regulatory requirements
- Securing incentives, permits, and funding opportunities
With our expertise in corporate, financial, regulatory, and investment law, our team is here to assist on the new opportunities Cyprus offers.
