Discover Cyprus – Top 10 Reasons to Move and Build Your Business in Cyprus!
1) Ideal Climate: The subtropical Mediterranean climate of Cyprus is ideal for anyone who wants to get away from the cold. The hot summer is offset by a wide variety of beautiful beaches and, despite some rains during the winter season, they ensure between 5 and 7 hours of sunshine almost every day of the year. Forget the cold, especially in southern cities, where averages range between 13 and 27 degrees Celsius throughout the year. As a result, the people are very warm and friendly and the food is exceptional.
2) Exceptional Natural Setting – Stunning scenery, beautiful clean beaches, and sparkling golf courses (4 of which are championship standard). Cyprus offers a wide variety of natural environments that give way not only to pleasant breaks, but also to the development of lasting partnerships with clients through sports and team building activities.
3) Blessed Strategic Position and Cultural Heritage: The position of Cyprus, situated on an axis of movement, both from north to south and from east to west, is at the crossroads of three continents, Europe, Asia and Africa. This strategic position is ideal for any company looking to develop strategic alliances and international business associations. As a result of the position of the small country, it has also developed a great cultural heritage, which, as a result, today, together with modern youth, offers a lot in terms of cultural and scenic entertainment.
4) Stable and prosperous economy: The Cypriot economy is prosperous and has diversified in recent years offering great stability in macroeconomic terms. According to the latest IMF estimates, its GDP per capita (adjusted for purchasing power) is $ 28,381, just above the European Union average. Cyprus has also adapted the EU currency since 2008, further simplifying trade and administration.
5) Professional services and qualified workforce: Cyprus is a destination that largely meets the demand for professional services in tax, banking and financial matters to local and international companies that choose to expand and grow their activity. The country offers a highly qualified and multilingual workforce also for those seeking to grow in the service industry.
6) EU membership: In 2004, Cyprus joined the EU with nine other countries. As a land destination with excellent tax rates, Cyprus enables those who register a company in Cyprus to do business in the EU and with other EU countries more easily, quickly and profitably. And, of course, no customs duties are levied on goods that are sold or transported between member states. Being a member state of the EU, it is possible to access the ‘European Structural Funds’ for development.
7) Ideal tax environment: the country can not only boast of its plan cyprus corporation tax 10% rate but a large network of double tax treaties. Since Cyprus has been busy developing deals with more than 45, it has achieved great advantages in tax savings as a fully legal EU land environment. These are numerous double tax treaties, the aim of which is to successfully reduce the rates of taxes on interest received, royalties, taxes on dividends and taxes on the sale of shares of subsidiaries, securities and shares. Cyprus is today one of the most favorable countries not only for European member residents but also for international companies to register a Cypriot company and operate a business. Cyprus is also an ideal tax environment for individuals. On a personal level, the Cypriot system has also introduced many benefits that apply to all individuals, but especially non-residents, in terms of Cyprus personal income tax rates. Taxes on Cyprus capital gains arising from the alienation of family-owned businesses are also generally exempt from tax. And finally, for companies looking to increase their workforce, with overhead costs of about 20% of overall wage costs, employee taxes (value paid by employer and employee together) that provide fully social security services. Cutlery is also a strong motivator.
8) Strong benefits of social security and medical assistance: EU withdrawals are eligible for medical treatment at no cost. EU citizens from other countries who have contributed to the social security scheme of another EU country for at least two years are eligible for coverage in Cyprus. People receiving a disability pension or people injured on the job have the right to free medical treatment. High-level medical care is available where facilities are comparable to those in other industrialized countries.
9) Advanced Telecom Infrastructure and Networks: Cyprus infrastructure is ideal for entrepreneurs who need to get things done. The country has a modern road network, extensive port facilities, and two international airports. Travel and transportation in Cyprus and internationally between the country and other countries are fast, efficient and inexpensive. Considerable investments have been made to transform the island into a telecommunications hub in its geographic region. In addition to the seven satellite earth stations that provide satellite communications, Cyprus is connected to a number of advanced technology submarine cables that provide excellent connectivity to Europe, the Middle East and Asia.
10) Low crime rates and family legal system. Cyprus enjoys some of the lowest rates of robbery and crime in Europe along with Denmark and Norway, which are colder. Due to its British colonization until 1960, Cyprus operates under the common law system. This system is not only more transparent for many companies and managers who choose Cyprus as a business destination, but it also offers advantages for structuring trust organizations through nominees.