Marios Mavridis, an MP from the opposition DISY party, has put forward a new bill to the Trade and Industry Committee of the Cypriot Parliament, which calls for the abolition of all fees for innovative companies.
The MPs are expected to discuss the innovations and approve them at the next meeting.
In particular, the amendments will affect 100 companies that are included in the category of small and medium innovative companies. According to Mavridis, the total amount of the canceled fees will be insignificant for the country's economy and will not affect the state budget, but will help the development of companies that are struggling to survive.
By the way, the current fee for company registration is 165 euros. In case of transformation of a private company into a public one, so that it can raise funds on the money market, 2 thousand euros are charged.
These fees should be abolished so that companies can develop normally," said Mavridis.
Cyprus has been attracting foreign companies for years.
All because the island remains one of the most convenient points of entry to the international, primarily European, market. This is facilitated by favorable legislation, an active entrepreneurial community, and government policy towards technology business: both startups and large companies are attracted by preferential tax rates and various state support programs. Today, there are dozens of such enterprises in Cyprus in various industries.