Cyprus approves tax incentives to boost start-up sector

The Cyprus government has approved a package of tax incentives to boost both the start-up sector and innovation in Cyprus, but the measure will come into force after it is approved by the Cyprus Parliament.

The package includes a 50% tax exemption on investments in innovative and start-up companies with a maximum annual exempted amount of €150,000 to boost the entrepreneurship and innovation in Cyprus.

This exemption rule follows practices that have been implemented in many other countries to boost the entrepreneurship and innovation sector and it covers both an investment in an investment fund as well as an investment made directly to a company either managed by a natural or legal person.

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