Just like video games, the games industry is highly competitive. In this article, we look at what makes Cyprus the next big “play”.
Why Cyprus?
Cyprus stands out among European countries when it comes to welcoming, promoting, and developing the games industry sector.
In recent years, many foreign companies in the video game industry, amongst them some renown multinationals, have selected Cyprus as a base for their headquarters or branches. The island now fosters a thriving community of game developers and publishers, and hosts both start-ups and established businesses. A substantial number of foreign professionals, ranging from tech talent to industry veterans, contributes to the industry’s growth on a local level.
This is no coincidence. The key reason is that Cyprus is considered a highly welcoming country for the industry.
Key Fiscal Advantages:
- Competitive Corporate Tax: 12.5% corporate tax rate (before incentives).
- Attractive IP Box Regime: Can reduce corporate tax rate as low as 2.5%.
- No Withholding Tax on Royalties: Payments from Apple, Steam, and Google to Cyprus are exempt.
- Dividend Tax Benefits: No withholding tax on dividends paid to –
- Non-resident shareholders.
- Cyprus tax resident shareholders who are non-Cyprus domiciled.
- Investment Incentives: Tax exemptions available for investments in Cypriot companies.
- Higher Net Income for Relocating Employees: Tax exemption of 50% on the remuneration of non-Cyprus residents relocating to Cyprus with gross yearly earnings of €55k and above.
Other Key Advantages:
- Efficient regulatory framework.
- EU Blue Card expected to come into force, allowing foreign professionals to obtain an EU passport within three years.
- The island has a mature, business-oriented services sector to cater for multi-jurisdictional enterprises and their personnel setting up a presence in Cyprus.
How C Business Advisors is Changing the Game
To stay at the top of the game, you need the best in the field by your side to help you navigate this exciting and ever-changing environment.
C Business Advisors, with its strong network of partners, years of experiences and great insight in the industry, is uniquely positioned to provide high-quality, and custom-made consulting services to games companies. We assist clients with:
- Advising on relocation of operations to Cyprus, including tax incentives.
- Application of the IP Regime, relevant to the games industry.
- Company formation and management of corporate records.
- Accounting and financial reporting services.
- Fundraising advisory.
- Advising on employment matters, including remote hiring jurisdictional implications.
C Business Advisors, in joint forces with its legal partner Chrysostomides Advocates and Legal Consultants, participates in the Games Industry Law Summit – a professional conference for games industry’s top legal professionals. Participation in the Summit allows us to stay closely connected to the latest legal and regulatory developments impacting the games industry—from IP and licensing to international publishing, data protection, and monetisation models. For our clients this means:
- Up-to-date, sector-specific advice grounded in current global practices.
- Early awareness of emerging legal trends and risks.
- Stronger international connections that can support cross-border deals and dispute resolution.
- Practical strategies informed by shared experiences from industry peers.
Simply put, C Business Advisors knows how to see beyond the obvious and rise to any challenge—just like a top gamer levelling up!