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CYPRUS: AN ATTRACTIVE BUSINESS JURISDICTION

The geographical location of Cyprus together with other considerable advantages and well-developed business infrastructures constitute Cyprus an attractive location for international business activities. Cyprus is situated between Europe, Asia and Africa, and is a full-member of the European Union since 2004. As a result, many legislations and procedures have been harmonised with the EU standards.

Cyprus has a developed legal system influenced by the British legal system. The Cyprus legislation is further endorsed with a modern banking and finance sector which may support the operations of multinational enterprises and offers a secure environment to businesses operating in the Republic of Cyprus. Moreover, the well-educated workforce is able to provide high-quality services that will fit the needs of business people.

Among the major advantages of Cyprus as a business jurisdiction, is the favourable tax system. Firstly, the corporate income tax in Cyprus is 12,5% which is one of the lowest in Europe. Secondly, interest income and profits deriving from the disposal of securities are not taxable.  In addition to this, Cyprus maintains double tax agreements with more than 50 countries. Furthermore, tax authorities have an excellent relation with business people and investors.

Cyprus is a relatively cost effective location for company formation. Moreover, the procedures that need to be followed are simple and straightforward with limited bureaucracy. For more information about company formation in Cyprus read the article Set up a company in Cyprus or contact directly one of our lawyers.

Among others, Cyprus is a transparent business jurisdiction. Transparency is one of the core elements of an effective and efficient legal system that facilitates the emergence of new business and investment opportunities. Cyprus is on the white list of OECD and adopted International Financial Reporting Standards.

Contact us and incorporate a company in Cyprus:

The Cyprus lawyers of Michael Chambers & Co. LLC are expert in company formation procedures. Our lawyers are able to provide you with a proper legal support on all the matters related to company formation and tax planning.

Among the main principles of Michael Chambers & Co. LLC is to provide cost-effective solutions to clients and assist them in implementing their business plans effectively and efficiently. The head office of Michael Chambers & Co. LLC is located in the heart of commercial activity of Limassol. Recently, Michael Chambers & Co. LLC has opened an office also in Paphos. If you wish to speak to one of our lawyers, then please contact us: info@chambers.law