Business owners can make money from anywhere in the world; all it takes is opportunity, knowledge, and resources. Nowadays, setting up business operations overseas is very easy, but the success of the venture will depend on the location you choose. If you’re considering Cyprus, you’re on the right track, and here are 7 reasons why.
1. Cyprus Has a Strategic Location
Cyprus is located between Africa, Europe, and Asia. That means it’s one of the most important Eastern Mediterranean trading posts. It’s also an international business and services center and it acts as an exchange point for these three major continents.
This means that if you invest in Cyprus, it will be very easy for you to access new markets and take advantage of this amazing business hub. The country is also an active transshipment center, so shipping goods in and out of the EU is very easy and effective.
2. There Are Beneficial Tax Systems
The tax structure systems available in Cyprus are transparent, effective, and beneficial. They adhere completely to EU, OECD, and international regulations. Plus, tax resident companies will benefit from extensive double taxation treaties with more than 60 countries around the world.
Among the benefits, we can mention that tax resident companies are taxed at a flat rate of 12.5 percent, one of the lowest in the European Union, foreign Permanent Establishment don’t pay taxes under certain conditions that are easy to meet, there are also low individual income-tax rates, there are no withholding taxes on payments from the island, and more.
3. Banking and Professional Services Are Efficient
There are many high-educated, skilled, and expert-certified public accountants and registered advocates available in Cyprus. They speak many languages as well, which means you’ll have easy access to high-quality financial advisory, legal, management consultancy, and accounting services.
These are all essential for companies, so it’s a great benefit to consider. What’s more, the banking system in Cyprus is well-organized and provides a wide array of services to meet the diverse needs of companies and individuals.
4. There Is a Sturdy Legal and Regulatory Framework
Cyprus offers a comprehensive legal structure that is beneficial to business because it promotes efficiency and transparency. It also provides foreign firms with a platform that’s familiar so they can conduct their activities without much issue.
If you wish to learn more about Cyprus legislation on foreign investments, we recommend you start with The Business of Credit Institutions Law, Cyprus Companies Law, International Trust Law, and many others, so do your research.
5. The Living and Working Atmosphere Are Incredible
If you compare Cyprus to other global business hubs, you will find that it is much less expensive to live in Cyprus. At the same time, the country is ranked 27th in the Quality-of-Life Index. In other words, you can find a high quality of life at a low cost.
Additionally, crime rates in Cyprus are low and it’s one of the top 30 safest countries in the world. The weather is nice and the sun shines 300 days out of the year, not to mention the culture is rich and it’s possible to have an amazing lifestyle.
6. It Has an Advanced Infrastructure
Cyprus is a greatly advanced country. It boasts of a sophisticated internal road system that makes it easier for everyone to go from town to town and city to city. There are two world-class international airports that connect Cyprus with many destinations around the world and they offer direct flights to important business destinations.
Additionally, Cyprus has two deep seaports that handle a ton of freight cargo and employ advanced logistics solutions that make everything not just more efficient, but also less expensive. Cyprus is also an incredible telecommunications center, the education system is English-based and reliable, the health services are affordable, and the tourism industry is booming. All these factors make Cyprus a perfect destination for investment and business.
7. The Shipping Credentials Are Amazing
Last but certainly not least, Cyprus’s shipping center is internationally acclaimed, and it offers over 140 shipping firms. It boasts of having one of the largest shipping registries in the European Union and it’s also the biggest third-party ship management center around. The shipping center accounts for over 7 percent of the Gross Domestic Product.
Cyprus has amazing shipping credentials because it has a strategic location on the most active sea routes for trade. Also, the shipping infrastructure is state-of-the-art, advanced, and high-end. Not to mention that the shipping legislation is greatly beneficial.
Conclusion
Once you know about the advantages Cyprus has to offer, how can you not consider investing in it? The benefits far outweigh the risks, and it can be the greatest business move of your career. Consider these reasons and make the best decision for your financial future!
