Cyprus, affectionately known as the “Island of Aphrodite,” is rapidly establishing itself as a vibrant hub for global commerce. This transformation has seen Cyprus evolve into an international beacon of business, boasting a superior standard of living. The island effortlessly blends leisure, business, tourism, and a touch of glamour and elegance, making it an irresistible destination.

Business Landscape in Cyprus:

Cyprus stands out as an exceptional destination, not just for its scenic beauty but for its sophisticated infrastructure and unparalleled quality of life. These attributes are just the tip of the iceberg in terms of what attracts people to Cyprus. The nation’s economy is on an upward trajectory, offering promising prospects for both the country and international investors.

A growing number of investors are tapping into the lucrative opportunities Cyprus offers, leveraging its strategic position as a gateway to the EU. The island’s state-of-the-art infrastructure and constantly evolving transportation networks serve as a boon for frequent travelers.

The business ecosystem in Cyprus has flourished under the stable foundation of English Common Law, presenting a lucrative platform for international businesses to thrive. Entrepreneurs and businesses venturing into Cyprus benefit immensely from the local workforce’s expertise, educational background, and unwavering work ethic.

Investment Opportunities in Cyprus: Insights from CEOs

The Cypriot government anticipates a significant economic upswing in the coming years, spurred by initiatives such as the licensing of a luxury casino resort and the burgeoning oil and gas sector. Cyprus also shines in the maritime industry, holding a prestigious position in third-party ship management within the EU and globally, boasting one of the largest merchant fleets.

Cyprus: A Wise Choice for Investment

Taxation Advantages in Cyprus

Cyprus is renowned for its attractive, straightforward, and advantageous tax system, aligning perfectly with EU standards. The country’s access to an extensive network of over 60 double taxation treaties, coupled with a corporate tax rate of just 12.5%—among the lowest in the EU—positions Cyprus as a fiscal haven.

Tax Benefits for Businesses and Individuals:

• Non-domiciled individuals enjoy zero tax on dividends and interest.
• Exemptions on the sale of securities.
• A 50% tax exemption on employment income for new residents, applicable for ten years for earnings exceeding €100,000 annually.
• The initial €19,500 of personal income is exempt from tax, with subsequent rates ranging from 20% to 35%.
• Retirement gratuities are received tax-free.
• Absence of estate duty, wealth, gift, or inheritance tax.
• Exemption from capital gains tax on the sale of property located abroad.
• An 80% tax exemption on income derived from intellectual property rights.
• Income earned abroad by individuals working for non-resident employers or overseas establishments of resident employers for over 90 days per tax year is exempt from Cyprus tax.
• A competitive tax framework in comparison to other EU countries, bolstered by over 68 tax treaties.
• A 60-day rule for establishing tax residency and a non-domicile concept for individuals.

Stavrinou & Co stands at the forefront, guiding businesses and investors through Cyprus’s enticing economic landscape, ensuring they fully capitalize on the unique opportunities and benefits available.