“Cyprus offers a strategic location,
favorable tax environment, educated work force, excellent
telecommunications, modern banking and legal infrastructure which makes
the country the perfect business bridge for the European Union and the
Middle East.”
THE WALL STREET JOURNALWednesday, May 5, 2004
There is a combination of a number of
favorable factors has made Cyprus one of the most attractive places for
businessmen across the globe for the registration of companies:
- Cyprus, being a full member of the European Union since 1st May
2004, is the third largest island of the Mediterranean and is situated
in the east end of the Mediterranean providing a strategic and ideal
gateway to Europe, Africa, and Asia.
- The island’s infrastructure, coherent legal system which is based
on English Law, high standard of professional and other support
services, combined with the low cost of living, investment security,
generous tax incentives and other facilities create an ideal business
atmosphere, as evidenced by the substantial growth in numbers of
companies registered in the Island.
- Cyprus is highly ranked on the list of preferential tax
jurisdictions for international tax planners with, in addition to the
low corporate tax rate of 10% and extensive network of Double Tax
Treaties, there are several tax advantages for holding companies such as
full participation exemption (dividends and capital gains) and zero
withholding taxes on dividends, interest and royalties.
- Today, Cyprus is widely used by a number of global companies to
reduce their overall tax burden and increase their effectiveness by
structuring their investments through Cyprus.
- Reached by air in no time from continental Europe, the Middle East
and Africa, and well served by all major airlines, the island is easy to
get to.
