1) Ideal climate: Cyprus’s subtropical Mediterranean climate is ideal for anyone who wants to get away from the cold. The sizzling summer is offset by a wide variety of beautiful beaches, and despite some rain during the winter season, they ensure 5-7 hours of sunshine almost every day of the year. Forget the cold, especially in the cities of the south, where averages range between 13 and 27 degrees Celsius throughout the year. As a result, the people are very warm and friendly and the food is exceptional.
2) Exceptional Natural Environment: Stunning Landscapes, beautiful clean beaches and sparkling golf courses (4 of which are championship standard). Cyprus offers a wide variety of natural environments that make way not only for pleasant breaks, but also for developing lasting associations with clients through sports and team-building activities.
3) Blessed Strategic Position and Cultural Heritage: The position of Cyprus, situated on an axis of movement, both from north to south and from east to west, is at the crossroads of three continents, Europe, Asia and Africa. This strategic position is excellent for any company looking to develop strategic alliances and international business partnerships. As a result of the position of the small country, it has also developed a large cultural heritage, which, as a result, today, together with modern youth, offers a lot in terms of cultural and landscape entertainment.
4) Prosperous and Stable Economy: The Cypriot economy is prosperous and has diversified in recent years offering great stability in macroeconomic terms. According to the latest IMF estimates, its GDP per capita (adjusted for purchasing power) stands at USD 28,381, just above the European Union average. Cyprus has also adapted the EU currency since 2008, further simplifying trade and administration.
5) Professional Services and Qualified Manpower: Cyprus is a destination that largely covers the demand for professional services in tax, banking and financial matters for local and international companies that choose to expand and grow their activity. The country offers a highly skilled and multilingual workforce as well for those looking to grow in the service industry.
6) EU Membership: In 2004, Cyprus joined the EU with 9 other countries. As a land destination with excellent tax rates, Cyprus allows those who register a company in Cyprus to do business in the EU and with other EU countries more easily, quickly and profitably. And, of course, no customs duties are levied on goods that are sold or transported between member states. Being a member state of the EU, it is possible to access the ‘European Structural Funds’ for development.
7) Ideal tax environment: The country can not only boast of its flat Cyprus corporate tax rate of 10%, but also a large network of double taxation treaties. Since Cyprus has been busy developing agreements with more than 45 countries, it has achieved great tax reduction advantages as a fully legal EU land environment. These are numerous double tax treaties, successfully aimed at reducing the rates of taxes on interest received, on royalties, taxes on dividends and taxes on the sale of shares of subsidiaries, securities and shares. Cyprus is today one of the most favorable countries not only for European member residents but also for international companies to register a Cyprus company and operate a business. Cyprus is also an ideal tax environment for individuals. On a personal level, the Cypriot system has also introduced many deductions that apply to all individuals, but especially to non-residents in terms of Cyprus personal income tax rates. Taxes on Cyprus capital gains arising from the disposition of property within the family of companies are also generally exempt from tax. And finally, for companies looking to increase their workforce, with overhead costs of about 20% of overall salary costs, taxes on employees (value paid by employer and employee together) who provide security services fully covered social are also a strong motivator.
8) Strong social security and medical benefits: EU retirees are eligible to receive medical treatment at no cost. EU citizens from other countries who contributed to the social security scheme of another EU country for at least two years are eligible for coverage in Cyprus. Those receiving a disability pension or those injured at work are entitled to free medical treatment. high-level medical care is available where facilities are comparable to those in other industrialized countries.
9) Advanced telecommunications network and infrastructure: Cyprus infrastructure is ideal for businessmen who need to get things done. The country has a modern road network, extensive port facilities and two international airports. Travel and transportation within Cyprus and internationally between the country and other countries is fast, efficient and cheap. Significant investments have been made to transform the island into a telecommunications hub in its geographic region. In addition to the seven satellite earth stations that provide satellite communications, Cyprus is connected to a series of state-of-the-art submarine cables that provide excellent connectivity to Europe, the Middle East and Asia.
10) Low crime rates and family legal system. Cyprus enjoys some of the lowest theft and crime rates in Europe along with cooler Denmark and Norway. Due to its British colonization until 1960, Cyprus operates under the common law system. This system is not only more transparent for many companies and managers who choose Cyprus as their destination for trading, but also offers advantages for structuring fiduciary organizations through representatives.