Cyprus

Cyprus has emerged as a major international financial centre, mainly due to its legal framework and infrastructure, the highly educated workforce and the comparative tax and other fiscal incentives offered to international companies. Armed with such advantages, the local law and accounting firms managed to penetrate the international market, developing a strong understanding of international business needs, products and services.

Cyprus’s accession into the European Union in 2004 provided the final impetus for growth of the sector, which has since grown at very rapid rates. Cyprus joined the Eurozone in January 2008, further strengthening its capacity to provide quality financial services to international clients.

Cyprus is one of the most attractive locations for international companies, business leaders and individuals, due to:

• Attractive corporation tax rates of just 10% – the lowest amongst all European countries.
• High standard legal and accounting services.
• A well-educated workforce, many of whom are multi-lingual.
• A sophisticated and sound legal framework.
• Good transportation and communication systems.
• Excellent Double taxation treaties with many countries.
• A good reputation with shipping companies around the world (Cyprus is among the top 10 countries in shipping registrations).
• Full-range of banking services.
• Regulations to prevent money laundering in accordance with EU directive.
• High standards of living, good climatic conditions and comparatively low housing costs.
• Very low crime rates and a safe, secure and friendly society.

Cyprus has built a solid reputation as an international business centre over the years. And now, more and more international investors are selecting Cyprus as their business base.