Cyprus has, through the centuries, been and will continue to be, an extremely attractive location for international businesses. Due to its strategic and valuable location, Cyprus has long served as a major eastern Mediterranean trading post. The island has long established itself as an important and successful regional and international business centre.
With the recent energy developments in Cyprus and the substantiation of the estimates regarding natural gas reserves in the country’s Exclusive Economic Zone Cyprus has been placed dynamically on the world energy map. Cyprus is entering a ‘golden era’ with countless prospects of development available for Cyprus and overseas companies to grasp in the energy sector.
These are the results of Cyprus’ numerous advantages and the favourable policies of its government.
Some of the most important advantages of Cyprus are:
- Member of the European Union: Serving as Europe’s Middle Eastern outpost and a gateway for the movement of goods inside and outside the European borders
- Favourable Taxation: The use of a Cyprus entity in International tax planning can mitigate or eliminate completely the overall tax liability arising from an international activity
- A prosperous economy: Enjoying long-term stability and growth and relatively high per capita income
- Exemptions from foreign exchange control
- Highly developed and efficient accounting, legal and banking sectors
- Liberal Foreign Direct Investment Policy allowing 100% participation in almost all sectors of the economy
- Strict confidentiality with the local authorities and the banks
- Comparatively lower set up and maintenance costs of international business entities
- Strategic and advantageous geographical location: at the crossroads of three continents, providing an ideal base for expansion into new markets
- Double tax treaties with 40 countries
- Bilateral investment agreements with 19 countries
- Excellent infrastructure (transport and telecommunication facilities)
- A great place to live and work: English is widely spoken, pleasant climate, high standard of living and one of the lowest crime rates within the European Union