The freedom of foreign currency movement from the central bank of Europe and the establishment of the Euro as the common currency have helped the global businesses to move into European countries that are considered to be business centers, offering a place for a high level of services and a low tax system.
Cyprus has succeeded in establishing its place as a business center and has attracted more than 90,000 international
Over the last 25 years, Cyprus has been considered an attractive place for international business and has set up a
the remarkable system both in the private and the government sectors, helping international corporations to find solutions in rendering building premises for their offices, recruitment of competent human resources, legal services, service from business advisors and tax consultants, and government services.
Cyprus has been a full European Member State and has set up the lower 10% corporation tax among the other European Member States. It has also entered into Double Taxation Treaties with 38 countries worldwide, including Greece.
More the 90,000 International corporations including shipping and other multi-national corporations have set up
permanent establishments in the inland.
Cyprus is a remarkable place for long summer holidays, as it is a famous destination for most European citizens, especially
the English, with more than 1.5 million tourists per year.
In a fast-changing world in which the globalization of economies plays a key role in the success of corporations and clever business, individuals are moving toward markets with a higher level of demand for their products, a lower level of competition, and a lower level of taxation.
Cyprus is different from other financial international business centers in that it offers the lower 10% corporation tax in Europe and 38 Double Taxation Treaties with most countries.
Cyprus is not considered to be an offshore paradise center and has made legal changes in order to synchronize with Europe and international law. International trade laws as well money laundering laws have allowed Cyprus to be considered a financial business center, with true and fair recognition from Europe and other countries.
International Cyprus Company officers the following incentives:
• Lower 10% corporation tax in Europe.
• With the right tax planning corporation, tax can be lower than 10% on taxable profits.
• Cyprus companies, under no circumstances, are considered to be paradise corporations and have passed all legal
barriers for international recognition.
• Cyprus invoices and expense vouchers are very well recognized from all European countries as fully deductable for VAT and tax purposes.
• Cyprus tax law does not include negative articles for transactions between Cyprus and offshore companies.
• All foreign non-Cypriot shareholders of Cyprus companies pay zero corporation dividend tax if they reside in Cyprus for less than 183 days per year.