In response to the catastrophic explosion in the port of Beirut, the Cyprus Ministry of Foreign Affairs recently announced (21/08/2020) that it will provide a scheme of incentives to assist Lebanese businesses and families to relocate to Cyprus.
These incentives are expected to include a fast-track licensing procedures for companies based in Lebanon that will choose to transfer and continue their operations in Cyprus.
The plan is also expected to include provisions and incentives to assist families to enrol their children in educational institutions in Cyprus.
Lebanon and Cyprus have traditionally enjoyed strong bonds on different areas and levels, both due to geographical proximity but also through common cultural traits. There is a large community of Lebanese and individuals of Lebanese decent residing in Cyprus.
Many Lebanese businesses have chosen Cyprus as a friendly, nearby destination in the road towards international business expansion. Families also appreciate the high educational standards and availability of educational facilities in the English and French languages in Cyprus as well as the Mediterranean lifestyle and weather.
We are awaiting a new announcement by the Cyprus Government with further information and the exact details of this scheme in the next few weeks.
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