Why choose Cyprus

 

About Cyprus:

Cyprus is the third biggest island in the Mediterranean Sea with an area of approx. 9,250m2 and is strategically located at the crossroads of three continents (Europe, Asia and Africa). It has been EU member since May 2004 and member of the Economic and Monetary Union since January 2008.

Cyprus provides an ideal place as a business location and a wonderful living environment with a comfortable standard of living.

The infrastructure of the island is very well developed. The Republic of Cyprus has two airports (Larnaca and Paphos) and two ports (Limassol and Larnaca). It has also an excellent communication system and very well structured road network that provides easiness of travelling around the island.

In terms of living standard, Cyprus has a very high standard of education with low crime rate. English language is widely spoken as a business language.

Tourism facilities are also very well developed and in combination with the pleasant weather conditions make the island very attractive destination to foreigners.

In terms of business, Cyprus provides high standard professional services and banking system that fully support both local and international businesses. Most of the island’s service provider companies (lawyers, accountants, tax advisors and auditors) are qualified members of international professional bodies.

 

Tax Benefits of Investing in Cyprus:

It’s attractive tax legislation system in connection with the wide range of double taxation treaties with over 45 countries, make Cyprus an ideal location for holding companies for international tax planning purposes.

The main incentives given by the Cyprus fiscal legislation include the following:

  • Favorable corporation tax of 12.5% (10% until 2012), one of the lowest among EU member countries
  • Group relief tax provision for Cyprus resident companies
  • Tax losses are carried forward for a period of 5 years from the end of the period in which they have incurred
  • Gains from the disposal of securities are tax exempt
  • Capital gains from the disposal of immovable property outside the Republic are tax exempt
  • Nil withholding taxes on dividends and interest payable to non-Cyprus tax residents
  • Extensive Double Tax treaty network with over 45 countries
  • Tax exemption of profits from operation of permanent establishment outside the Republic (subject to certain conditions)
  • Tax exemption on most cases of dividend income received
  • No inheritance tax
 
 
 
FIRST AUDIT © Copyright