Introduction
The Republic of Cyprus is an independent country located in the southern corner of the Mediterranean Sea, boasting a long history and remarkable natural beauty.
The Cyprus Advantage
Cyprus is renowned and valued for its unique benefits to investors, making it a preferred location for business and leisure.
Living in Cyprus
The island of Cyprus is a welcoming and secure place to establish residence and manage your business. It has become a favored home for many investors due to its Mediterranean climate, beautiful beaches with crystal clear waters, UNESCO World Heritage sites, vibrant cosmopolitan environment, and exquisite traditional cuisine. The Cypriot government has also taken steps to facilitate this establishment, highlighting the island’s numerous advantages.
Cyprus Legal System
Cyprus, a former British colony until 1960, adopted the common law legal system, closely mirroring the UK’s, especially in corporate law. In 2004, Cyprus became a full member of the European Union and adopted the Euro currency in 2008.
Cyprus Tax Advantages
Cyprus offers a competitive tax system with numerous benefits, illuminating its appeal as a business destination:
- A corporate tax rate of 12.5% on net profits, the lowest in the European Union.
- There is no withholding tax on dividends payable to non-residents.
- Quick registration for a European VAT number within two working days.
- Access to the OSS number for companies selling products and services online.
- Free movement of capital as an EU member country.
- There is no capital gains tax, except on real estate located in Cyprus.
- Double tax treaties with over 50 countries, covering all major economies.
- Full exemption of dividend income from income tax.
- Non-taxability of gains from the disposal of shares and other securities.
- Acceptance of Cyprus entities by popular online payment companies.
