Looking for opportunity in Cyprus? These are the 5 biggest benefits Cyprus has to offer for business people.

 

Which is business people sole aim? To see their bank account and business grow even more, by making more money and pay fewer taxes.

In line with the above, business people are looking to cooperate with the right  professionals in a secure, strategic business location with a favourable tax system that allows them to grow their wealth.

 

 

       Cyprus can offer all of the above simply because of the:

 

• Tax system

 

1. Second Lowest corporation tax in EU, 12,5%
2. Tax friendly environment with no complications and easy to follow
3. Generous tax incentives for foreign business people who decide to reside and/or having business operations in and/or from Cyprus.
4. Double Tax Treaties network with many countries including the ones with the biggest economic growth.

• Strategic Location

1. Member of EU.
2. Easy market access to Europe, Middle East and CIS countries
3. Cyprus’ strategic geographic position at the crossroads of Europe, the Middle East and Africa has been attracting business people for millennia.

• Provision of professional services

1. Cyprus is a small island with big “brains”. Using the right professional and well educated workforce, business people will enjoy exceptional quality of services that will help them achieve their goals and objectives.
2. People make the difference; our people add value to our clients.
3. Nowadays, business people do not want accountants who sit behind desks posting information into accounting software and press a button to retrieve the outcome. Business people need tax experts working next to them 24/7, with global expertise and thinking out of the box.

• Low business risk

In 2013, Cyprus came across one of the most difficult financial crisis ever. A new strategy, bail-in, has been unveiled around the world, with the first test run in Cyprus. Following three years of austerity, Cyprus Government has taken drastic actions/strategies on attracting foreign investors/business people.

In 2017, Cyprus is back on a growth track and has been ranked as one of the fastest growing EU economies. The country exceeded international expectations by turning its economy around in just three years following a devastating financial crisis.

Cyprus, nowadays, offers a low risk pro-business environment that allows business to establish operations quickly and efficiently. It offers an all-around favourable business environment for investors and is widely recognised as one of Europe’s most profitable investment locations.

There are no any bank transaction controls hence business people can conduct their bank transactions easily and without any implications provided that supporting documentation are in place.

• Government’s intentions

A Government is a “business organisation” that aim to make profits.

The Cyprus government is striving to make Cyprus a world-class destination for business and investors. In order to achieve this, the Government has introduced some very important incentives to business people who decide to do business via Cyprus and/or become tax residents in Cyprus, such as:

1. Non- dom rule
2. 60-day rule
3. Remuneration incentives
4. Intellectual Property Tax with effective tax rate of 2.5%
5. Notional Interest Deduction (NID)
6. The Cyprus Alternative Investment Funds (AIFs)
7. Undertakings for collective investment in transferable securities (UCITSs)

What PHS could do for you?

 

We can turn your tax into investment hence you will be making more money and see your bank account and business growing even more.

PHS team will add even more value to your organisation and do the utmost to keep you away from tax implications, bring you up to date with the current legislation and advise you on what is coming next.