Cyprus- is comparatively a small island to the continents it is surrounded by, however the benefits of this island are numerous, especially when it comes to do with living and/or your business. Let us provide an overview of the main benefits not only for registering a company in Cyprus, but why it would be beneficial for you to deal with Cyprus in general:
Competitiveness as a country
Advantageous geographical and strategical location with a pleasant climate and sunny weather throughout the year. The island is conveniently situated at the hub of three continents: Europe, Asia and Africa having easy access and bridging the three continents;
Same time zone as other major countries - UTC/GMT +2 hours;
European Union member since May 1st 2004. Cyprus has adopted the Euro currency in 2008;
Cyprus has an active population. Unemployment has been significantly reduced over the years following the evnts in 2013.
Cyprus as an International Business Center
One of the most attractive and successful International Business Center within the European Union;
Politically stable independent state;
English is the most widely used business language;
Highly developed corporate, shipping and tourism industries;
The Anti-Money Laundering Directive was adopted by the European Parliament and EU Council in October 2005 in order to prevent the money laundering and terrorist financing activities;
Investor friendly authorities;
Cyprus as a Corporate Services Provider for a Company registration
The incorporation process for a Cyprus company is simple and straightforward;
The set-up and a daily administration of the companies have significantly lower operational costs compared to other jurisdictions;
Taxable profits of all Cypriot companies are taxed at the rate of 12,5%, which is one of the lowest rates in EU; Certain types of income are exempt from taxation altogether;
Extensive double tax treaty network leading to the avoidance of double taxation. There are more than 50 double tax treaties concluded with other countries;
Dividend income is not subject to income tax;
Favourable tax regime for Cyprus Holding Companies with no tax on consolidation and absence of Controlled Foreign Companies (CFCs) rules;
There is no withholding tax applied to holding companies on payment of royalties (that arise from sources outside Cyprus), interest or dividends;
The procedure of opening of either local or foreign bank account for business purposes is fast, easy and reliable.
Choosing Cyprus as a second home
High standard European quality of living;
Low crime rate. One of the safest countries to live in;
Clear healthcare rights and extensive variety of hospitals which are divided to public and private sectors;
Highly developed system of international education and variety of schools and universities;
Advanced telecommunication infrastructures through the island;
Rich flora and fauna and awarded with a blue flag designation beaches;
Multilingual island- Greek and English are the most common languages, although the majority of people can speak fluently two or more languages such as Russian, French or German due to the presence of multinational people in the island;
Rich history, welcoming culture and inherited traditions through the decades;
Royal Pine & Associates- Cyprus based independent corporate service provider
We specialize on the areas of trust and corporate administration, tax advice, structuring solutions, accounting support and services of all types of legal entities.
In more details:
Setup and incorporation;
Management and domiciliation;
Banking (opening of bank accounts around the globe);
Trust (Inheritance planning, estate planning, asset protection, employee share bonus schemes and many other);
Specialized services (eg. share option plan).
Accounting and book-keeping;
Audit assistance (working with independent auditors);
We will be pleased to have the opportunity to assist you if you have any questions. Use our experience and the power of our professional team to achieve your goals.
The author of the article is Katerina Manzoura.
Katerina is an Executive assistant of the Managing Director at Royal Pine & Associates. Joined team and became a significant member and right-hand woman. She is highly motivated, intelligent, dedicated company worker who deserves this honor.