Why is it beneficial for a company to incorporate in Cyprus?
With its strategic location and scenic landscape, the country island of Cyprus might turn out to be the dream headquarters for your company. Cyprus’ economy is mostly driven by tourism. The country has a lot to offer even if you’re not considering relocation yourself. Cypriot business incentives make the country a great location for an offshore company.
Cyprus’ strategic location is especially attractive if you’re considering expanding your business beyond Europe and are interested in exploring the markets of the Middle East or Asia. Thanks to its unique location, the island is one of the world’s leading shipping centers and can boast an impressive fleet.
Attractive tax regime:
Take advantage of Cyprus’ competitive tax incentives, including a very low corporate income tax rate (currently at 12,5%), which makes the country the perfect place to incorporate your business. The standard VAT rate in Cyprus is 19%, but there are a few categories of goods and services which fall under reduced rates. The Cypriot tax system has especially favorable regulations when it comes to Intellectual Property. Qualifying profits can yield an 80% tax deduction.
Favorable legal system:
Cyprus’ legal system is characterized by a very easy incorporation process, which does not require a staggering capital, can be completed within a few days and does not even require your presence.