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Reasons to Start a Business in Cyprus

Reasons-to-Start-a-Business-in-Cyprus.jpgAlthough Cyprus is a small European country, its economy provides many business opportunities for both the locals, as well as the foreigners interested in the business environment available here. Some of the most important reasons refer to its economic stability, as well as the numerous industry sectors relevant for the local economy. The highlight of the Cypriot economy is, of course, the tourism industry, which expanded at a fast pace in 2016. Those who want to open a Cypriot company are advised to receive assistance on this matter from a local specialist and our lawyers in Cyprus are prepared to provide in-depth information on any issue referring to the incorporation requirements
 

Taxation system available in Cyprus 

 
One of the main aspects when investing on foreign market is the taxation system applicable in that respective jurisdiction. In this sense, Cyprus provides an attractive tax regime, with several tax exemptions
 
The following are exempted from taxation in Cyprus
 
international transactions (however, there are certain limitations);
profits deriving from overseas permanent establishments;
profits deriving from sale of securities. 
 
Another relevant reason to start a company in Cyprus refers to the fact that the Organization for Economic Cooperation and Development (OECD) recognized the efforts of the local authorities in terms of implementing the international legislation on corporate harmful tax practices.
Our Cypriot lawyers can offer legal assistance on how to comply with the local tax authorities and can also provide more details on the agreements signed by Cyprus for the avoidance of double taxation
 

Legal framework in Cyprus  

 
Cyprus became a member state of the European Union (EU) in 2004 and, since then, it registered many economic developments. In this sense, we have to mention that in 2008, Cyprus also became a member of the European Monetary Union, accessing the Eurozone, which also marked the beginning of a new economic era for the Cypriot market.
 
Thus, those registering a company here should know that the legislation available for commercial companies follows the rules and regulations set up by the EU. 
 
Persons who need further details on the main reasons to invest in Cyprus are invited to contact our Cypriot law firm
 

Comments

  • Audrey 2016-10-04

    Hello! I would like to find out how to start a traveling agency in Cyprus as a foreigner (I am a citizen of a country outside the European Union). Thank you!

    Hello Audrey! Please send us a detailed e-mail about your project at office@lawyers-cyprus.com and we will reply as soon as possible. Have a great day!

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