1) Ideal Climate: Cyprus’s sub-tropical Mediterranean climate is ideal for anyone looking to get away from the cold. The sizzling summer is offset by a wide variety of beautiful beaches, and despite some rain during the winter season, 5 to 7 hours of sunshine is assured almost every day of the year. Forget the cold, especially in the southern cities, where averages range from 13 to 27 degrees Celsius year-round. As a result, the people are very warm and friendly and the food is exceptional.
2) Exceptional Natural Setting: Stunning Landscapes, beautiful clean beaches and brilliant golf courses (4 of which are championship standard). Cyprus offers a wide variety of natural environments that allow not only for pleasant breaks but also for developing lasting partnerships with clients through sporting activities and team building.
3) Blessed Strategic Position and Cultural Heritage: The position of Cyprus, located on an axis of movement, both from north to south and from east to west, is at the crossroads of three continents, Europe, Asia and Africa. This strategic position is excellent for any company looking to develop strategic alliances and international business partnerships. As a result of the small country’s position, it has also developed a large cultural heritage, which as a result today, together with modern youth, offers a lot in terms of cultural and scenic entertainment.
4) Prosperous and Stable Economy: The Cypriot economy is prosperous and has diversified in recent years offering great stability in macroeconomic terms. According to the latest IMF estimates, its GDP per capita (adjusted for purchasing power) stands at USD 28,381, just above the European Union average. Cyprus has also adapted to the EU currency since 2008, further simplifying trade and administration.
5) Professional Services and Skilled Manpower: Cyprus is a destination that largely covers the demand for professional services in tax, banking and financial matters to local and international companies that choose to expand and grow their activity. The country offers a highly skilled and multilingual workforce as well for those looking to grow in the service industry.
6) EU Membership: In 2004, Cyprus joined the EU with 9 other countries. As a land-based destination with excellent tax rates, Cyprus enables those who register a company in Cyprus to do business in the EU and with other EU countries more easily, quickly and profitably. And, of course, customs duties are not levied on goods that are sold or transported between member states. Being a member state of the EU, it is possible to access the ‘European Structural Funds’ for development.
7) Ideal tax environment: The country can not only boast of its flat Cyprus corporate tax rate of 10%, but also a large network of double tax treaties. Since Cyprus has been busy developing agreements with more than 45, it has achieved great tax reduction advantages as a fully legal EU land environment. These are numerous double taxation treaties, successfully aimed at reducing tax rates on interest received, on royalties, taxes on dividends, and taxes on the sale of shares of subsidiaries, securities, and stocks. Cyprus is today one of the most favorable countries not only for residents of European members but also for international companies to register a Cyprus company and operate a business. Cyprus is also an ideal tax environment for individuals. On a personal level, the Cypriot system has also introduced many deductions that apply to all individuals, but especially to non-residents in terms of Cyprus personal income tax rates. Cyprus capital gains taxes arising from the disposal of property within the family of companies are also generally exempt from tax. And finally, for companies looking to increase their workforce, with overhead costs of about 20% of overall wage costs, employee taxes (value paid by employer and employee together) providing fully covered social security services is also a strong motivator.
8) Strong social security and health care advantages: EU retirees are eligible for medical treatment at no cost. EU citizens from other countries who have contributed to the social security scheme of another EU country for at least two years are eligible for coverage in Cyprus. Those who receive a disability pension or those who are injured at work are entitled to free medical treatment. high-level medical care is available where facilities are comparable to those in other industrialized countries.
9) Advanced Telecom Network and Infrastructure: Cyprus infrastructure is ideal for entrepreneurs who need to get things done. The country has a modern highway network, extensive port facilities, and two international airports. Travel and transportation in Cyprus and internationally between the country and other countries is fast, efficient and cheap. Significant investments have been made to transform the island into a telecommunications hub in its geographic region. In addition to the seven satellite earth stations that provide satellite communications, Cyprus is connected to a series of state-of-the-art submarine cables that provide excellent connectivity to Europe, the Middle East and Asia.
10) Low crime rates and family legal system. Cyprus enjoys some of the lowest theft and crime rates in Europe along with cooler Denmark and Norway. Due to its British colonization until 1960, Cyprus operates under the common law system. This system is not only more transparent for many companies and managers who choose Cyprus as their destination for trade, but also offers advantages for structuring trust organizations through representatives.