Cyprus : A Prime Financial Business Center

Cyprus, a member of the European Union since May 2004, being positioned at the crossroads of Europe, the Middle East and North Africa, along with its top quality telecommunications services makes it a convenient base for international operations. The political, social and economical stability of the island, all add to its benefits, consequently providing another reason for international companies to carry out their business transactions through Cyprus.

Today, the tertiary (services) sector is considered the backbone of the island’s economy; hence Cyprus has been established as a prime and reputable centre for international business and services.

Some of the benefits that Cyprus brings to International Businesses are:

Favourable tax regime including 10% corporation tax
Simplified administrative procedures for acquiring necessary permits
Low set up and operating costs
Highly qualified, well-educated and multilingual labour force
Double tax treaties with 40 countries
Freedom of movement of foreign currency
Efficient legal, accounting and banking services
European standard of living
0% tax on the profit from the sale of securities and dividend income

The tax legislation in Cyprus contributes to it being a prime financial centre, as it maintains one of the lowest and most preferential tax regimes in the European Union.

All the above characteristics accompanied by other advantages such as Cyprus’ open market economy, heavy investment in education, efficient transit centre, and pleasant work environment, make Cyprus an undeniable and prominent force for international enterprise wishing to maintain a springboard to the region.

Related Links

• Cyprus : A Prime Financial Business Center
• International Desk