Cyprus’ unique geographical position creates a business link between Europe, Asia and Africa, and it gives the opportunity to any interested individuals or companies to use it as the base of their business transactions.
After the 2013 breakdown the island got stronger as a business sector and it has been growing and developing within the finance and real estate sectors where a lot of projects have been completed and future ones are on process.
Benefits that Cyprus offers to foreign investors
1) Cyprus is located near the big European financial centers with which it is connected through direct flights.
2) Cyprus retains good relations with all European countries and also with countries of the Middle East.
3) Cyprus as a European country is considered the best link of European companies and individuals to access the profitable markets of the Middle East.
4) The island’s low corporate tax regime and high standards of living have established Cyprus to be an international business center and a remarkable business base for a number of investors.
5) One of the main advantages that Cyprus offers is the tax regime of 12.5% for companies, a percentage that it is considered the lowest within the European Union.
6) Cyprus offers a quick and simple procedure of incorporation of a company which can be completed within two weeks.
7) Cyprus’ full implementation of EU regulations gives the opportunity to each investor to adopt the relevant benefits that are produced from those regulations.
8) Cyprus has implemented a scheme for naturalization of international investors in Cyprus by exception. A non-Cypriot citizen who meets the relevant criteria of the scheme may apply for the acquisition of the Cypriot citizenship through Naturalization by exception and adopt all the benefits from it. (Investment of €2,0 million)
9) International investors may be granted an Immigration Permit if they satisfy the relevant criteria. (Property acquisition of €300.000)
10) Taxation of foreign pensions (a pension distributed from abroad for a job that was exercised abroad) in Cyprus is at the flat rate of 5%. Irrespectively of the amount of the pension, the first €3.420 are tax free.
11) The island’s national language is the Greek however the majority of the population knows English.
12) The island’s standards of living are high and it offers to each investor to live and manage all his business activities in a friendly, modern and healthy environment.
13) New tax measures have been implemented in the island's tax system in order to attract foreign investment and increase Cyprus' economic activity. These amendments include the notional interest deduction, the non-domicile principle for defence tax purposes, tax exemption period of high earners has been extended, the profits from the sale of property will be exempt from taxation and their has been a deduction on transfer fees.
14) Cyprus retains Double Taxation Agreements with 58 countries across the globe.
MICHALIS ANASTASIOU / email@example.com
EVAGORAS ANASTASIOU & ASSOCIATES LLC / anastasioulaw.com