The Business Attractiveness of Cyprus
Cyprus offers to entrepreneurs and investors an exclusive bundle of advantages for the conduct of their business affairs worldwide, the main constituent elements of which are:
- Cyprus is the only member of the European Union in our part of the world and as already said it is strategically situated at the crossroads of three continents, serving as Europe’s south-eastern outpost.
Cyprus has already developed into a major business and services centre in the region, while its small size provides it with the necessary flexibility.
- Cyprus possesses a highly conducive tax system with a corporate tax rate of only 12,5% (10% before 01/01/2013), the lowest in the European Union and one of the lowest internationally.
- Cyprus has signed double tax treaties with over 50 countries.
- Cyprus has a liberal foreign direct investment regime allowing up to 100% foreign participation in most sectors of the economy from both EU and non-EU nationals.
- Cyprus has bilateral investment agreements with 17 countries.
- Cyprus is a democracy with a fully fledged market economy.
- Cyprus has simplified administrative procedures for acquiring the necessary permits.
- Set-up and operating costs in Cyprus are relatively low.
- Cyprus possesses a highly qualified, well-educated and bilingual labour force (Cyprus ranks among the first countries in the world in terms of university degree holders in relation to the population) while Cypriots are renowned for their entrepreneurial spirit.
- There is freedom of movement of foreign currency.
- There is a highly developed infrastructure with excellent telecommunications, ports, airports and road networks.
- Cyprus possesses a good organisational structure.
- Cyprus offers Free-zones Bonded factories.
- Cyprus has modern and efficient legal, accounting, banking, financial and insurance services.
- Cyprus has a European standard of living.
- There is an abundance of foreign schools.
- Cyprus has a pleasant climate (about 330 days with sunshine per year) and agreeable topography.
- Cyprus possesses political stability and commitment to the rule of law.
- Cyprus secures protection of real and intellectual property.
- Cyprus has one of the lowest crime rates in Europe.