Accountants and Management Consultants
Over the last decades international businesses and high net-worth individuals have been using Cyprus for various reasons, according to their particular needs, profile and goals. However diverse the approach and the needs are, there is a consensus that Cyprus has a solid core of advantages which, all agree cannot be ignored.
EUROPEAN UNION MEMBER
ATTRACTIVE TAX ENVIRONMENT
Cyprus, the third largest island in the Mediterranean is strategically positioned at the crossroads of Europe, Asia and Africa. Being a member of the European Union and with its traditional trade and friendly relations with the neighbouring countries as well as with Russia and the former CIS countries, is the ideal hub to serve as a springboard for investments, trade and international business...
activities between Europe, Asia, Russia, the former CIS countries, Middle East and Africa.
Since 2004 Cyprus is a member of the European Union, affording access to an internal market of 500 million people. Cyprus companies have direct access, or may establish their operations and offer goods and services or may invest in any country member of the EU and of the European Economic Area, without restriction. Cyprus membership to the EU, combined with its advanced...
infrastructure in the shipping sector, the deep see port facilities and the close proximity to the Suez canal, offer a sound platform and a natural hub for international trade and logistics operations to and from the European Union.
Cyprus has a simple, transparent and attractive tax regime fully compliant with EU and OECD standards having the following main characteristics:
EXTENSIVE DOUBLE TAX TREATIES NETWORK
ROBUST & TRANSPARENT REGULATORY ENVIRONMENT
HIGH QUALITY PROFESSIONAL SERVICES
Cyprus international tax environment is greatly enhanced by a wide network of Double Taxation Treaties with 50 countries. Among these countries, a number of important key jurisdictions are included in North America, Europe and the emerging economies of Russia and China and India. In general the main provisions in these treaties refer to avoidance of double taxation for income earned...
by a resident in one of the treaty signatories, having operations/ activities in the other treaty country and to reduced or zero rate of withholding tax on dividends, interest and royalties paid from the treaty signatory....
Cyprus has a robust, transparent and well functioning legal system based on the Common Law system of England, due to historical reasons. Furthermore, as a result of Cyprus accession to the European Union, its legislation has been harmonised with the EU legal order providing reliability and certainty to international businesses and individuals who invest or establish their operations...
and trade activities in Cyprus.
In addition, Cyprus as a member of various international bodies and organisations, is signatory or has ratified a large number of international instruments, treaties and conventions which also compliment and enhance the transparency and reliability of the system.
Cyprus evolution into a widely recognised international business center is due to a great extend to the high standard of services offered by its legal, accounting and other professionals that have been offering services to international investors over the last decades...
AVAILABILITY OF HUMAN TALENT
LOW SET-UP & OPERATING COSTS
WELL DEVELOPED INFRASTRUCTURE
Perhaps the most valuable resource Cyprus has, is the young well educated talent pool. Recognising the importance of a well educated human capital, Cyprus has been investing in developing and upgrading its educational system by streamlining policies and taking measures specified by European Standards and guidelines...
In addition the majority of University graduates have studies abroad, mostly in the United Kingdom, United States and Europe in fields such as business administration, accounting, law science, medicine and engineering, usually they compliment their studies with valuable international working experience by taking up employment for short periods of 2-3 years before repatriating.
This human talent is readily available to serve international businesses at very competitive rates.
Cyprus as an international business hub in the European Union offers the opportunity to companies and individuals to relocate or set-up new business operations at very competitive rates compared to other Western European countries...
The local infrastructure is ideally suited for business people who need to get things done swiftly and efficiently. Thanks to its modern road network, extensive port facilities and two new international airports, travel and transport in and beyond Cyprus is fast, efficient and economical...
QUALITY OF LIFE & CLIMATE
In addition to being a business friendly location, Cyprus is also a well known holiday resort visited by almost two and a half million people every year. Investors and business executives, resident in Cyprus, enjoy an enviable standard of living, more than 320 days of sunshine every year, a high standard health services, international education facilities, a mild Mediterranean climate, first class local wine and tasteful local cuisine based on the Mediterranean diet, allow investors to conduct their business having peace of mind with their family members living in Cyprus.
It is of no surprise that Cyprus, because of its high standard of living, ranks 23rd in the world among 169 countries in terms of quality of life index (Human Development Index), which is a measure of the standard of living of a country.