Cyprus as a base for international Tax Planning Are you looking for a tax effective place for your business ventures? Cyprus is among the best countries where you can register an international business company. Though it might be small, this wonderful Mediterranean island proves to be one of the best places that can satisfy your international business requirements.Geographic location and infrastructure Cyprus’ location has been very strategic in keeping it, among the major trading posts in the eastern Mediterranean.
The country now prides itself on having sophisticated telecommunication network, stable economic and business environment and a steady socioeconomic infrastructure. Cyprus is also an EU member state, making a lot of businessmen in Europe and all over the world to consider it as an international tax planning and trading destination.
Cyprus key benefits there are a lot of factors that have made Cyprus a great business destination. It possesses the important characteristics a corporate environment should have in order to be appealing to businessmen and investors.
There are friendly international relations in the region, making it a lot easier for investors to put up investments. The country has also the lowest corporate tax rate in the EU (10%) with an extensive Double Taxation Treaty Network (45 treaties so far). It also has a sophisticated socioeconomic infrastructure that can help international businesses to flourish. Cyprus is also known to have an excellent professional and highly-educated workforce.
The workforce in Cyprus offers modern and professional services at low operational costs. Education in the primary, secondary and university level is also highly prioritized in the country. All these characteristics contribute to making Cyprus the perfect place for business opportunities. Since its independence, Cyprus has managed to enjoy great economic growth.
This economic success is a result of the successful economic government policies and the adaptation of a market-oriented economic system. The government has also focused in a dynamic and highly educated workforce. All these strategies had paved the way in transforming Cyprus from an agricultural product exporter to an international business center.
For over 5 decades, the economic performance of Cyprus had improved making it a better location for doing businesses.Being a member of the European Union, Cyprus has still managed to maintain low labor costs comparing to other EU countries.
The cost of living in the country is significantly cheaper comparing to other EU member states. Another reason why Cyprus is indeed a perfect place for business opportunities is that it offers many tax benefits. Cyprus has completed over 45 Double Tax Agreements so far.
Aside from this, it also has a tax reform that is attractive to investors. All of these are great reasons why Cyprus is indeed the perfect place for new business opportunities. Agatha is a graduate of the Holmes Commercial College in Melbourne Australia and currently works at Oxford Management Ltd located in Limassol, Cyprus. She is currently in charge of the clients account department with long experience in Cyprus company management and incorporation.