Cyprus is considered to be a key jurisdiction when deciding to establish EU headquarters. The country is drawing more international attention and is becoming an emerging destination for business, investing and living. The success of the island is attributed to the progressive legislation, regulatory regime and strong network of financial and professional services providers with years of experience in serving international clients. Cyprus’ government and institutions are committed to maintaining leadership in industry developments, providing access to high-growth markets and supporting your unique journey in Cyprus. The ideal location, the natural beauty and history team up with a holistic legal and tax framework developed specifically for making Cyprus a leading jurisdiction where high net worth individuals can relocate, set up regional headquarters and attract the human capital required to manage and control their business activities.
Below we have summarized for you some of the key benefits of the jurisdiction of Cyprus:
- Cyprus is currently considered as one of the most attractive location for the development of entrepreneurship and a distribution hub and gateway to investment in the European Union, Eastern Europe, Asia and Africa.
- European Union and European Monetary Union member state.
- Enviable quality of life with 340 days of sunshine per year.
- Highly educated, qualified and multilingual personnel.
- Cost-effective setting-up and on-going operational services.
- One of the most favorable EU and OECD-approved tax regime.
- Corporate taxation on profit at 12.5% which is one of the lowest tax rates in the EU.
- No withholding tax on dividends from Cyprus companies to persons not resident in Cyprus.
- Access to an extensive network of double tax treaties allowing for tax efficient structuring of investments. In particular, the country has concluded over 50 agreements for the avoidance of double taxation, including with the UK, the USA, Canada, India, China and the UAE.
- Efficient and up-to-date regulation, fully harmonized with related EU Directives.
- Reorganizations such as mergers, demergers, transfer of shares and assets/liabilities can be affected in Cyprus in a tax efficient manner.
- Collective investments can be listed on the Cyprus Stock Exchange and other recognized EU stock exchanges;.
- Cyprus-based funds and asset managers benefit from low tax burdens levied on Cyprus-based corporations.
- Incentives and tax benefits for high-earning managers and high-net-worth individuals.
- Modern and efficient legal, accounting and banking services based on English practices.
- Being a common law jurisdiction, Cyprus affords legal certainty and clarity (Cyprus corporate law framework is modelled after the English company law and English judicial precedent is of persuasive authority in Cyprus).
- Sophisticated road, air and sea transport solutions and services;
- Multi-purpose deep seaports are located in Limassol; Larnaca and soon in Ayia Napa;
- Worldwide connectivity through two modern international airports in Larnaca and Paphos.
- Advanced telecommunications network and easy access by air and sea.
If you are considering Cyprus for your EU corporate headquarters, please do not hesitate to contact us.