Why Cyprus

Why Cyprus

Cyprus is the third largest island in the Mediterranean, with an area of 9,251 km² and a population estimated to be 854,800. The strategic location of the island has played an important role in establishing it as a business centre since antiquity and as a very popular tourist destination.

Cyprus has been a member state of the EU since 2004 and a member of the Eurozone since 2008. The combination of the unique location of the island, business infrastructure and availability of investment opportunities make Cyprus an ideal business hub in the region.

Among the various advantages that Cyprus has to offer as an international business centre is the reliable legal system, the simple and fast procedure of registering a company, the favourable tax legislation, the double tax treaties that the country has signed and the high-level corporate services.

Cyprus has become an attractive jurisdiction, in which thousands of new companies set up every year, leading the country to a major international financial and business centre.

Cyprus is one of the most popular places for registering companies

The procedure for registering a company in Cyprus is simple, straightforward and fast. The first stage is the approval of the name of the company by the Registrar of Companies and then the required documentation must be filled. This procedure takes around 8 working days to be completed.

There is no tax on profits from the sale of shares and other financial instruments that carry a title such as bonds and debentures.

There is no tax on Capital gains arising from the sale of property abroad, including shares, immovable property and excluding sale of immovable estate situated in Cyprus.

Payments to non-resident companies are not taxed (dividends, interest and royalties).

Confidentiality and anonymity of the beneficial owners.

High level of corporate services offered by lawyers and accountants who are highly skilled.

Net profits of companies are subject to corporate tax at the rate of 12.5%, which is one of lowest in Europe.

Dividend income is exempt from tax.

Effective Tax rate of 2,5% or Less on royalty income.

Tax losses can be carried forward for up to 5 years.

Companies registered in Cyprus also benefit from the double tax treaties that have been established between Cyprus and around 45 other countries.

Cyprus provides a modern banking system which can support the operation of companies, offering a secure environment for business