Cyprus is not the first country which comes to mind when thinking of the best places to launch your business. You might thing that you need to be in Silicon Valley or London, to have a successful business. This is not true. Cyprus has become a hub for fintech and blockchain companies and many tech startups have made their base there because of the favorable regulations and tax regime.
Probably you haven’t heard about it but once you read this article, you will understand how important it can be to set up your company in Cyprus.
Cyprus offers a very attractive tax regime.
Cyprus has a number of attractive features that make it an ideal location to set up your business.
First, the corporate tax rates are very low. This means that you can keep more of your profits.
Second, there are no withholding taxes on dividends, interest and royalties. Your company is also exempt from paying capital gains tax when shares are sold or transferred to third parties.
Thirdly, Cyprus has no inheritance tax and there are no taxes on gifts or donations made to charities. The only other taxes you might be liable for are property taxes and stamp duty.
The incorporation process is quick.
Cyprus offers a fast incorporation process.
In Cyprus, you can incorporate a company in less than a week. This is due to the fact that they have a simple online platform that makes it easy to start your business. With this online platform, you can apply for an e-visa or an e-business visa, which will allow you to travel and start your business seamlessly.
You will also find that the cost of setting up a company in Cyprus is reasonable. You only need to pay €100 and €300 for your certificate of incorporation and State fee respectively, which makes it one of the cheapest countries in Europe.
Quality of life.
Cyprus is a wonderful place to set up your business. There are many reasons why it’s such an attractive option, including the fact that Cyprus has a mild climate and beautiful scenery that make it popular with tourists.
Cyprus also has a well-developed economy, with an unemployment rate that hovers around 6%. This means that there are plenty of skilled workers who can help you get your new venture off the ground.
Cypriots are friendly and welcoming toward newcomers, and they have a reputation for being hard workers. In addition to these qualities, Cyprus has low tax rates—making it an attractive option for people who want to start their own businesses or buy existing ones.
International business center.
Cyprus is an international business center with a wide range of tax incentives, including a 5% tax rate on corporate and personal income and a flat 15% corporate tax rate. The country has also established itself as an offshore jurisdiction, with low taxes and a high degree of financial privacy.
The country’s geographical location makes it a prime location for doing business in Europe. Cyprus has excellent connections to European markets and provides easy access to the Middle East, Africa, Asia and beyond.
Cyprus has made significant efforts to attract foreign businesses by making it easier for foreign investors to set up their own companies in Cyprus. A new law was introduced in 2016 which allows foreign investors to establish companies without having to become citizens of Cyprus or pay capital gains tax on any profits made from their businesses.
Cyprus has a well-educated, bilingual workforce and is an attractive location for foreign companies. The country is also well-connected to the rest of Europe via its location on the Mediterranean Sea, which makes it easy to get in touch with other European countries.
Cyprus is a small country with friendly people, making it one of the most ideal places to set up your business.
The people are welcoming to foreigners, and they make it easy for you to integrate into their society. You can find many opportunities to meet new people and make friends from all over the world.
In addition to being welcoming, the people of Cyprus are also very educated, which means that you will be able to find many employees who are qualified for your job openings.
Because Cyprus has a small population, it is easier for businesses to grow here than in other countries with larger populations. This means that your business will have more opportunities for growth in this country than in others with larger populations where competition may be higher and costs may be higher as well.
There is even a few coworking spaces where you can meet people, such as sohocyprus.cy.
The reasons to consider Cyprus as your business base are numerous: it’s close to the European Union, English is spoken (yes, it is!), and there are many partners who can help you out if you need anything from customs agents, lawyers and even website designers. This ensures a prompt start-up process. Before you design the new home of your dreams, you must take care that the foundation is secure. And this means having the right partners. The insurance agent may offer more kinds of top policies that any other agent, and the accountant may have deep enough expertise for dealing with taxation, especially for expats.