Cyprus Economy
Cyprus is a member state of the European Union since 2004 and has a strong legal and tax system, as well as extensive experience as an international business centre, with highly qualified professionals and sophisticated infrastructure. It is a country with a strategic location, long history and culture, as well as nice with almost year-round sunshine.
Economy of Cyprus
- Full Access to European Markets
- Access to 40+ EU trade agreements
- A member of the Eurozone since 2008
- Geostrategic position
- Proximity & easy access to major markets
- Investment Grade Sovereign Rating
- One of the lowest corporate tax rates in the EU at 12.5%
- An attractive double Tax Treaty network covering more than 60 countries
- Access to all EU Tax Directives
- Dividend income exemption based on relaxed conditions
- Capital gains tax exemption
- No withholding tax on outgoing dividend, interest or royalty payments
- Gains from trading in securities are tax exempt
- Notional interest deduction available for equity investment into Cypriot companies
- Foreign exchange gains or losses are tax neutral
- No tax on dividends, interest and rental income of non-domiciled individuals
- 0% succession or inheritance taxes
- No immovable property taxes
- A competitive intellectual property regime
- Tailor-made provisions for the investment funds industry
- Competitive Tonnage Tax for shipping companies and an approved EU open registry
- Tax deductions for investment into start-ups
- No exit tax rules
- 50% exemption on employment income exceeding €100,000 per annum for non-residents taking up employment in Cyprus
- No tax on dividends, interest and rental income of non-domiciled individuals
- Lower labour costs for technical and professional talents than in other major EU capitals
- Among the lowest office rental rates in Europe
- Highly affordable critical business support services
- Wide range of services make starting & running a business easy
- 700+ registered accounting firms including all major global firms
- 2,700+ registered lawyers and 170 law firms
- A range of serviced offices & co-working spaces
- High availability of modern and affordable office space in all cities
Cyprus Tax Benefits
Cyprus offers a number of personal tax incentives that aim to attract multinational companies to relocate key personnel to perform their duties from Cyprus. The tax incentives also appeal to high-net-worth individuals who are willing to relocate to Cyprus
Property Buying Process
The island of Cyprus has always been considered as one of the top property destinations by foreign buyers. The continuing demand for property by foreigners is attributed to many factors, including the relatively low cost of living, the great weather, the high quality of life, the great landscapes & blue flag beaches.Cyprus is considered to be one of the safest and best relocation destinations in the world.
