The Republic of Cyprus is a Member State of the European Union and a member of the Eurozone. Cyprus is right at the top of the EU tax league table in terms of the attractiveness of its tax regime due to its combination of consistency in interpreting EU tax legislation and stability in resisting frequent changes to EU tax laws. It is a well-known fact that operating in a country with an attractive corporate tax regime provides a competitive advantage when competing with overseas businesses. Cyprus is, also, a member of the British Commonwealth, Council of Europe, IMF, UN, World Bank and WTO and is signatory to many international conventions and treaties.
Cyprus has proven to be an exceptional jurisdiction by virtue of its advantageous tax system. This coupled with the added advantages of EU Membership rightly justify The World Bank’s characterization of Cyprus as the region’s “Miracle”. Cyprus is now a premier holding, finance, royalty and trading company jurisdiction.
Below you will find facts why Cyprus is an ideal jurisdiction for an EU Base:
- Low Tax Jurisdiction
- Diversified, Skilful and Well Educated Workforce
- EU Member and International business hub
- Utilization of EU Directives
- Transparent regulated banking system aligned with the comprehensive EU legislative framework
- Wide Network of DTT’s
- No Inheritance Tax – Attractive Legislation for Inheritance Tax Planning
- Cyprus Holding Companies – Exemptions
- Can be used as Regional office for Middle East Countries
- Favourable Corporation Tax and Tax Exemption on Dividends
- Administration and Operational Costs much lower than any other EU Country
- Favourable treatments on HNWI and Non-Dom individuals
- Significant tax reliefs for foreign employees
- Cyprus Climate
- Excellent infrastructure, Multilingual Country
- No CFC Legislation
- Flexible and Modern Legislation
- OECD White List Jurisdiction
- EU Passporting for funds, investment companies, public companies [through Cyprus Securities and Exchange Commission, Cyprus Stock Exchange and Emerging Companies Market (ECM equivalent to UK’s AIM)]
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