26 Dec Using Cyprus as a business headquartering base
Location
§ All local commercial banks operate an international business unit
§ Highly developed infrastructure technology, telecommunications etc.
§ Digitalization of economy under way – strategic priority of the government
§ Attractive IP Box regime to attract IP companies
§ Attractive relocation tax incentives for Executives
§ English language widely spoken and used as the prevailing business language
§ Included in OECD’s White List of jurisdictions
§ The corporate tax rate is 12.5%. Strong double tax treaty network with more than 60 countries
§ Profits from trading in qualifying “titles” (e.g., shares, bonds, debentures) exempt from tax
§ Dividend income generally exempt from tax
§ Payments to non-Cyprus or non-domiciled Cyprus tax residents generally with no WHT
§ Substance requirements as per global best practices
§ Efficient migration regime that allows smooth relocation of Executives and families. Capacity to transfer large numbers in certain positions
§ Attractive tax incentives for employees relocating to the island
§ High quality international schooling from kindergarten to university
§ Cyprus is amongst the top in the EU for university graduates per capita
§ Ranked as the 5th safest small country in the world
§ The sunniest country in Europe with 64 blue flag beaches
§ Relatively low cost of living compared to other European business hubs
§ Forming and registering a company
§ Office premises and technology
§ People and human resources
§ Company compliance
§ Business advisory
§ Financial repoting