10 Reasons Why You Should Consider Opening a Company in Cyprus
As the world of business continues to globalize, entrepreneurs and corporations alike are scouting for strategic locations to set up their operations. An enticing destination emerging on this global radar is Cyprus, an island country situated in the eastern Mediterranean. Here are ten compelling reasons why you should consider opening a company in Cyprus.
1. Favorable Tax Regime: Cyprus offers one of the lowest corporate tax rates in the EU at 12.5%. This, coupled with an extensive network of double tax treaties with over 60 countries, ensures businesses can optimize their global tax position.
2. Strategic Location: Cyprus’s geographic position at the crossroads of Europe, Asia, and Africa makes it a natural hub for international business. Companies based here can effortlessly manage and control operations across these continents.
3. EU Membership: As a member of the European Union since 2004, businesses in Cyprus have access to a market of over 500 million people. It also ensures adherence to EU business regulations, adding an extra layer of credibility and protection for your company.
4. Skilled Workforce: Cyprus boasts a high percentage of university graduates, providing companies with a pool of well-educated and multilingual professionals.
5. Robust Legal System: Based on English Common Law principles, the legal system in Cyprus is both robust and business-friendly. It ensures protection of intellectual property rights and a reliable contract enforcement mechanism.
6. Advanced Infrastructure: Cyprus offers modern physical and digital infrastructure, including state-of-the-art telecommunications, two international airports, and several seaports, facilitating smooth business operations.
7. High Quality of Life: With its Mediterranean climate, rich history, and vibrant culture, Cyprus offers an attractive lifestyle. This is beneficial for attracting and retaining top talent in your company.
8. Business Support Services: A well-developed sector of accountants, lawyers, and consultants offers world-class support services to help your business navigate through regulatory and operational complexities.
9. Access to Finance: Cyprus has a sophisticated banking sector and growing venture capital scene. There are also various incentives and grants available for businesses, especially in innovative sectors.
10. Ease of Doing Business: Cyprus ranks high in ease of doing business indices. The process of setting up a company is straightforward, and the government is committed to reducing bureaucratic obstacles.
In conclusion, Cyprus provides a unique blend of advantages making it an ideal destination for businesses of all sizes. Whether it’s the favorable tax regime, strategic location, skilled workforce, or robust infrastructure, Cyprus ensures your business has the right ingredients to succeed and prosper.
Simon Zenios & Co LLC, advocatescyprus.com, with our profound expertise in the Cyprus business environment, is well-positioned to guide companies through the process of setting up operations on the island. We offer comprehensive solutions and personalized strategies to ensure our clients enjoy the full benefits of operating out of Cyprus.
For more information about opening a company in Cyprus, contact Advocates Cyprus at [email protected] or call us at +357 24 023370.
About Advocates Cyprus
Advocates Cyprus is a leading provider of legal and corporate services in Cyprus. Our team of seasoned professionals offers comprehensive guidance across various sectors, incorporating regulatory advice, legal services, and strategic insights. We are committed to delivering exceptional services and assisting our clients in achieving their financial objectives.
This article is intended for informational purposes only. If you require further expert guidance, please do not hesitate to get in touch with us:
Email: [email protected]
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Simon Zenios & Co LLC, advocatescyprus.com
Telephone: +357 24 023370