October 20, 2017      
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PANORAMA HILLS

Ref: #PROJECT 105

Why choose Cyprus for living?

Cyprus is the third largest island situated in the north eastern corner of the Mediterranean Sea. Cyprus has been constantly a significant trading and air post between Europe, Africa and the Middle East, being of great political and strategic importance in the eastern Mediterranean.
Cyprus offers excellent advantages, which few offshore centres can offer. With a privileged geographic location, Cyprus has become the golden bridge between East and West, North and South.
Cyprus' entrepreneurial environment and supporting facilities compare favorably with those of the best-established centres in the world. The island is considered to be a primary offshore, shipping and international business centre among approximately 50 countries offering facilities for these purposes.
Cyprus provides a complete range of facilities for the conducting of commercial, professional, financial and maritime activities worldwide. International business Companies incorporated in Cyprus enjoy a low tax regime (from zero to 10%), an impressive number of double taxation treaties, excellent infrastructure (telecommunication and air transport), high level of professional services and the respectable status of the Cyprus registered entity.
Cyprus has a higher number of double taxation treaties than any other country specializing in the international sector. This wide network of double taxation treaties offers valuable international tax planning opportunities and advantages.
The primary purpose of these treaties is to avoid double taxation of income earned in any of the treaty countries. Cyprus and Russia have recently concluded their final discussions for the renewal of a favorable taxation treaty between the two countries.
Cyprus has become one of the most attractive locations in the world for setting up an international company. The reasons are:

  • the favorable tax incentives that have made the island attractive to both businessmen and investors wishing to expand internationally and to establish a legitimate business.  It is important also to add that all rules and regulations governing tax incentives are in accordance with the European Union policies.
  • a highly educated workforce coupled with the advanced western banking and financial system.  Financial, legal and IT consultants have typically trained at European or US universities and many have worked overseas before setting up in Cyprus.  They offer advice on the whole spectrum of modern business and investment.
  • the price of the offered services is lower than other EU countries.
  • the island's strategic location, excellent infrastructure, high quality of life and advanced legal system.
  • the island's role as a highly reputable international shipping centre, ranking among the 10 leading maritime nations in the world.
  • the friendliness, hospitality, low pollution and crime rates and the enviable climate.
  • the opportunities to combine business with pleasure.
  • International investors can also benefit from a plethora of other competitive advantages, such as a very friendly business environment, an advanced transport and telecommunications infrastructure, a highly educated and skilled multilingual workforce, a high standard of professional service providers, an attractive corporate tax of 10%, the lowest tax rate in the European Union and a net work of Double Taxation Treaties with more than 40 countries.
  • Services play a critical role in economy of Cyprus as they are the most dynamic and growing sector, which has surged since the mid-1990s and now accounts for about 80% of the country’s Gross Domestic Product. The success of the services sector has ensured that Cyprus maintains an enviable position at the top of the EU league tables for university graduates, attracting highly qualified professionals in a number of professions ranging from legal to financial and investment service, banking, accountancy, corporate formation and business consultancy.
  • The Free Zone Area located near Larnaca airport which was established to encourage external trade and offers various incentives, including abolishment of custom duties and taxes, in relation to imported goods and goods manufactured on-site for export.

The high standard of living, with excellent but low cost housing opportunities, the excellent telecommunications system and the advanced health services, are further reasons that make Cyprus an excellent choice for establishing an international company.
The World Bank has classified Cyprus among the high-income countries in terms of per capital income, while the United Nations place Cyprus amongst the world's high-rated countries in its Index of Human Development.

  • This small but dynamic Mediterranean island, the island of Cyprus, famous for the warmth and hospitality of its people, has transformed itself into one of the world’s most desirable locations to live and work. The island’s sophisticated and secure sun-kissed lifestyle coupled with Cyprus’ exceptional business infrastructure is proving to be a winning combination.