Choose Cyprus as Home for Business

Many beginners and experienced executives prefer to establish companies in steadily developing countries with a global economy. Cyprus occupies one of the leading places on the list of such jurisdictions. After the 2013 crisis ending, the Republic government for restoring its reputation has revised tax system (for example, the real estate duty was abolished), so investors are attracted here not only by comfort for doing business but also by an opportunity to obtain European citizenship through investment.

If someone doubts that favorable conditions for business management cannot be found in Cyprus, this article will convince everyone of any other truth.

The procedure for the Republic Company’s registration takes about a week, and you can do it either through a representative who provides services for opening offices and participation in Cyprus or using online service. It must be remembered: choosing a name from the list of available free will speed up the registration procedure, checking your own name may take more than a month, which, accordingly, will lengthen the enterprise opening time.

Outsourcing is one of the dynamically developing areas of the island’s business.

The newly formed organization will have a choice:

• hiring high-qualified professionals – here are a lot of them, due to the large universities rivalry, plus they claim on a lower salary than specialists from other European countries;
• use good-quality consulting services, saving time, money.

Cyprus banks (their number is more than 40) operate under the direction of the Cyprus Central Bank, integrated into the overall European banking system. Work of this industry is organized according to the British system. Payment cards issued by local financial institutions are accepted in any country around the world, and online banking possibilities allow account holders to manage funds from anywhere.

Unlike the majority of offshore zones, which attract by simplified business conduct and small taxes, Cyprus can also offer a stability, an ability to cooperate safely with counter-parties from any countries, a duty-free goods movement throughout the EU.

The number of states (with which the Republic has treaties on the double taxation avoidance) is approaching sixty.

According to legislation, ready-made companies can be transferred to the Republic. Compared to other European jurisdictions, maintaining enterprises cost will be quite low on the island.

Competent reforms of tax system make it possible to maintain competitiveness, investment attractiveness.

Here you are guaranteed to get:

• zero tax on dividends, interest income, royalties;
• 0% rate on securities purchase and sale;
• non-taxable real estate outside the island;
• receipts from abroad branch at a zero rate.

It remains to add that the percentage of income tax here is 12.5, VAT – 19, which also distinguishes the country among the European space as a place with the lowest tax rates.