Few international business centres can offer the same advantages as Cyprus. With a privileged geographic location at the cross-roads of three continents, and with the combination of favourable tax incentives and an impressive double tax treaty network, Cyprus has become the golden bridge between East and West, North and South.
Following the island`s accession to the European Union on 1 May 2004 and on the 1 January 2008 it adopted the European Euro as the official currency.
Cyprus has further improve and consolidated its reputation as a well-established international business, finance and shipping centre. The tax reforms, introduced prior to accession, providing for a corporate tax rate of 10% make this the lowest in Europe. This combined with other tax advantages greatly enhance Cyprus attractiveness as a place to do international business.
Corprate Global Services can help you best to set up your international operations in Cyprus. Our client-service teams combine insight and innovation with business knowledge and industry expertise to help our clients exceed their expectations.
Key Benefits Offered
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Introduction of the concept of tax resident and non-resident companies
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Taxation of worldwide income for tax Residents and Cyprus sourced income for non-residents
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A uniform corporate tax rate of 10% - Cyprus has the lowest corporate tax rate in the European Union.
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Tax-exempt business profits of non-resident companies
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Tax-exempt gains on the trading and disposal of securities
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Tax-exempt dividend income (subject to applicable criteria)
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Exemption of 50% of interest income (subject to applicable criteria)
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Tax-neutral group reorganisations
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Tax-relief for group losses
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Full adoption of the EU Parent-Subsidiary Directive
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Full adoption of the EU Mergers Directive
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Full adoption of the EU Directive on Mutual Assistance and Cooperation
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Full adoption of the EU Royalty and Interest Directive
The low tax rate coupled with an extensive list of Double Tax Treaties, an enviable time zone location and a mature legal, accounting and banking infrastructure places Cyprus high on the list of preferred jurisdictions for international tax planners.