The European Union
Cyprus joined the EU in 2004 and since then has attracted a number of foreign businesses, for good reason. Companies can now be owned by foreign investors, the demand for property has skyrocketed and treaties were signed by more than 40 countries that eliminated the double taxation of income brought by foreign companies.
The corporate tax rate in Cyprus is only 12.5%, which is one of the lowest in the EU. Furthermore, sales from dividends, real estate and securities are all tax exempt.
Some of the world’s leading banking and audit companies are in Cyprus, with staff fully trained in UK or other EU countries, such as KPMG Cyprus, PwC Cyprus, Deloitte Cyprus, Ernst&Young Cyprus or Grant Tornton. The island also boasts some of the best consulting firms.
The Cyprus Security Exchange Commission (CySEC) oversees all finance on the island, and since being an EU member and under MiFID regulation, firms registered in Cyprus have access to all European markets, not just those on the island.
Cyprus has excellent infrastructure, boasting two airports and two international shipping ports. This is a big advantage for import/export companies looking to create multiple jobs in Limassol and Larnaca.
As Cyprus is sitting in a nice spot in the Mediterranean, the views from the office can be spectacular. The sizes of offices are varied enough so you’re spoiled for choice, so now is the best time to get your hands on one. However, there are more offices under construction with sea views, so you can always enjoy coming to work in a building that could possibly have a better view than your home.
Thanks to its history as an ex-British territory, many Cypriot students study in UK or other European countries. As a result, everyone is highly skilled and the vast majority are fluent in English. To find highly-skilled employees for your upcoming Cyprus-based business, browse our website today.