1) Ideal Weather: The sub-tropical Mediterranean climate of Cyprus is right for anyone who desires to get away from the cold. The sizzling summer is compensated by a big variety of lovely beaches and despite some rain in the course of the winter season, 5-7 hours of sunshine are assured almost on a regular basis of the 12 months. Forget the cold especially within the southern cities where averages range from 13-27 degrees Celsius all year-round. Because of this, the individuals are very warm and friendly and the food is phenomenal.
2) Exceptional Natural Environment: Stunning Scenery, beautiful clean beaches and sensible golf courses (4 of that are championship standard). Cyprus offers an important number of natural environments that crumple not just for enjoyable breaks but in addition for developing long-lasting partnerships with clients through sports and team constructing activities.
3)Blessed Strategic Position and Cultural Heritage: Cyprus’ position, lying on an axis of movement, each north-south and east-west, stands on the crossroads of three continents, Europe, Asia and Africa. This strategic position is great for any business looking for to develop strategic alliances and international trading partnerships. Because of this of the small country’s position it has also developed an important cultural heritage which because of this, today, paired with the trendy youth offers much by way of cultural and scenic entertainment.
4) Prosperous and Stable Economy: The Cypriot economy is prosperous and has diversified in recent times offering an important stability in macroeconomic terms. In keeping with the most recent IMF estimates, its GDP per capita (adjusted for purchasing power) at 28,381 USD, just above the common of the European Union. Cyprus has also adapted the EU currency since 2008, further simplifying commerce and administration.
5) Skilled Services and Qualified Workforce: Cyprus is a destination which greatly covers the demand for skilled service by way of tax, banking and finance to local and international businesses that decide to expand and grow their activity. The country offers a highly qualified and multilingual labor force also for those looking for grow within the services industry.
6) EU Membership: In 2004 Cyprus joined the EU with 9 other countries. As an onshore destination with great tax rates, Cyprus allows for many who register an organization in Cyprus to do business within the EU and with other EU countries more easily, quickly and cheaply. And in fact, there are not any customs tax is charged on goods which are sold or transported between member states. Being an EU member state, access is feasible to ‘European Structural Funds’ for development.
7) Ideal Tax Environment: Not only can the country boast its flat cyprus corporate tax rate at 10% but an important network of double tax treaties. As Cyprus has been busy developing agreements with greater than 45 it has achieved great tax sparing benefits as a completely legal EU onshore environment. It’s quite a few double tax treaties, aimed successfully at reducing rates for taxes on interest received, on royalties, taxes on dividends and taxes on the sale of shares of subsidiaries, securities and shares. Cyprus is today some of the favorable countries not just for European member residents but in addition international businesses to register a Cyprus company and operate a business. Cyprus can also be a super tax environment for personal individuals. On the non-public level the Cypriot system has also introduced many allowances which apply to all privates but especially to non-residents by way of Cyprus personal income tax rates. The Cyprus capital gains taxes arising from the disposal of firms of property inside the family are also generally tax exempt. And eventually, for business looking for to extend their workforce, with overall costs of roughly 20% of overall salary costs, worker taxes (value paid by employer and worker together) which offer for fully covered social security services are also a powerful motivator.
8) Strong Social Insurance and Medical Assistance Benefits: EU retirees are eligible for medical treatment for free of charge. EU residents from other countries who contributed to a different EU country’s social security scheme for no less than two years are eligible for coverage in Cyprus. Those receiving an invalidity pension or those injured on the job are eligible without spending a dime medical treatment. high level medical care is offered where facilities are comparable to other industrialised countries.
9) Advanced Telecommunications Network and Infrastructure: The infrastructure of Cyprus is ideally suited to businesspeople who must get things done. The country has a contemporary road network, extensive port facilities and two international airports. Travel and transport in Cyprus and internationally between the country and other countries is fast, efficient and economical. Considerable investments have been made for transforming the island right into a telecommunications hub in its countryside. Along with the seven satellite earth stations which offer satellite communications, Cyprus is connected to a variety of advanced technology submarine cables which offer excellent connectivity to Europe, the Middle East and Asia.
10) Low Crime rates and familiar legal system. Cyprus enjoys a number of the lowest rates of theft and crime in Europe alongside the colder Denmark and Norway. Attributable to its British colonization until 1960, Cyprus functions under the common law system. This technique will not be only more transparent to many businesses and managers who select Cyprus as their destination for trade however it also offers benefits for the structuring of trust organizations through nominees.