The Cyprus insurance sector has proven highly resilient, demonstrating remarkable growth despite the challenges of more rigorous regulation and a volatile economy. The local insurance industry comprises 33 insurance companies while over 500 European insurance companies exercised their right of freedom to provide services (FOS). These represent a group of  the largest institutional investors on the island with assets under management of over €2.5 billion (2019).

Cyprus, is an attractive jurisdiction for insurance companies as it does for the entire  financial services sector. The main advantages that the island offers are:

  • A particularly well positioned location to achieve expansion of operations in the European Union, North Africa and the Middle East
  • Sound regulatory framework aligned with EU Regulations and Directives
  • Full compliance with international financial reporting standards for insurance contracts
  • Transparent and straightforward application process to set up operations in Cyprus
  • Insurance companies from EU member states can operate in Cyprus under the freedom to provide services (FOS)
  • Solvency II Directive has been transposed into local law representing the largest change to European regulations
  • Cost-effective and business friendly base to launch new products and services
  • Vast pool of professionals in the insurance sector
  • Attractive corporate taxation 12.5%
  • Full exemption from taxation on profits from disposal on securities

What we can do for you

We provide hands-on support with

  • 1 Location selection process
  • 2 Setting up a business in Cyprus
  • 3 Relocation of family members & staff
  • 4 Facilitation of newcomers
  • 5 Aftercare services for existing investors

Inquiry Form