CYPRUS: AN INTERNATIONAL BUSINESS AND FINANCIAL CENTRE BRIDGING THE MIDDLE EAST AND EUROPE Cyprus is an international business and financial centre bridging the Middle East and Europe. It has become the favorite destination for investors in search of an ideal location for their company head offices and operational activities. Cyprus, which has a long established reputation as a safe and secure location for commercial and business activities, offers simplicity in doing business in a professional and sophisticated environment, both for small and medium size companies. Furthermore, Cyprus has an ideal geographical position and can act as a center for investments to Europe and to countries of Middle East, Gulf States, Africa and Asia. Cyprus provides the ideal environment to set up business operations effectively, by providing services ranging from registering and setting up the company’s operations to managing clients. Cyprus, as an EU member state and a member of the European Monetary Union since 2004 and 2008 accordingly, provides the lowest corporate tax regime in the EU at 12,5%, combined with a range of double tax treaties with over 45 countries worldwide. Cyprus offers relatively low operating costs for high quality services, such as investment, banking, tax accounting, legal processing and other sectors. According to the above, Cyprus can provide a wide network of double tax agreements, with the objective that the same income is not taxed in more than one country and which provides for reduced taxes on dividends, interest and royalty flows between the countries. Such agreements allow the tax payable in the other country involved to be treated as credit against tax payable in Cyprus and vice versa. Therefore, the item of income in question is charged to tax only once. REASONS TO INVEST IN CYPRUS In a globalised economy where multinational companies are pressed to maintain and increase quality while reducing costs, Cyprus provides a complete value scheme. In general, Cyprus provides: • Membership of EU since May 2004 and of EMU member since 2008. Foreign investors have the opportunity to access the EU market and vice versa • Lowest Corporate tax rate in the EU that is totally compliant with the EU laws and regulations and also double tax treaties with more than 48 countries. For a complete listing please visit the Ministry of Finance Double Taxation Agreements Section (mof.gov.cy/mof/ird/ird.nsf/dmldtc_en/dmldtc_en) • Macroeconomic stability with successful economic performance • Foreign Direct Investment track record • Efficient legal, accounting and banking services • Strategic location - Europe’s Middle Eastern outpost at the crossroads of three continents (Europe, Africa and Asia) providing a gateway to and from each one of them. • Advanced telecommunications network and infrastructure, two international airports and two ports. • Highly qualified and multilingual human talent • Reputable international shipping centre • Living and working on the island for all seasons due to the fabulous weather, beautiful nature, art and culture, safety, security and above all, hospitable people. CONCLUSION In conclusion, Cyprus can offer important opportunities and benefits to the global business and investment community. Companies at all stages of the process that lead to the creation of a company in Cyprus are ranging from gathering of information to implementing a business plan in Cyprus.
Posted on: Wed, 31 Jul 2013 14:11:21 +0000
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