Why Cyprus
Cyprus is the third largest island in the Mediterranean, and possibly one of the most ideally strategically located countries in the world for almost any type of business, situated at the crossroad of three major continents Europe, Africa and Asia.
Cyprus, combines a legal system based on the English model, an efficient civil service, good labour relations, an outstandingly high level of professionalism in the legal and accounting sectors, an excellent banking system, telecommunications and air links to all important destinations, that form solid foundations for entrepreneurs to set up their business.
Cyprus is a full member of the European Union (with all the benefits that would be expected of dealing with any EU country), the United Nations, the Council of Europe, the World Trade Organization, the World Bank, the Commonwealth and the International Monetary Fund. Moreover, Cyprus is represented through diplomatic missions in over 30 countries and has particularly good relations with the Middle East region, the Mediterranean countries, as well as other developing countries.
A number of favorable factors have made Cyprus an attractive place in the world for doing business, including a high standard of living, the hospitality, friendliness and the competence of the Cypriot people. While an EU member, Cyprus also boasts the lowest corporate tax rates in the EU of 12.5% in addition to the following benefits:
- Strategic location at the crossroads of three continents
- Highly developed and efficient legal, accounting and banking services based on English practices
- Excellent transport and modern telecommunication facilities
- Free market economy
- Secure environment and politically stable
- Favourable tax regime for ship management and competitive ship registration costs and annual tonnage taxes
- Strictly confidentiality with the local authorities
- Extensive network of double tax treaties
- Cyprus is not considered as a “tax haven” and a Cyprus business company is distinguishable from any other company registered in any developed country in the world, therefore, the business of such company will not suffer from identification as a “tax haven” operation
