CYPRUS

General Information

    Advantages:

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• EU and EMU member

• Tried-and-tested practice

• Euro payments through SEPA

• Regulation by EU Directives

• 64 DTT (2018)

• Favorable tax regime

• OECD- approved jurisdiction

• English as the official language

• UBO Anonymity

• No Tax Information Exchange Agreements

• IP Box (new from 2016)

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    Disadvantages:

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• Financial reporting

• Compulsory audit

• Substance requirements

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In addition to the membership in the European Union, Cyprus is also a member of the Commonwealth, therefore the second official language in Cyprus, besides Greek, is English.

In 2018 Cyprus occupied the 32 positions among 189 countries in the Human Development Index (HDI) – statistical research carried out as a part of the UN Development Programme. The report on HDI reflects the stable growth of the Cyprus economy, with an average income of 36,643 USD per capita, a high level of healthcare and education. Also, Cyprus belongs to the high-income economies according to the World Bank data in the 2018-2019 fiscal year.

The Republic of Cyprus is a well-known jurisdiction among investors, bankers and business founders due to efficient and up-to-date regulation, modern accounting and banking services suiting every taste and budget, qualified personnel and favorable OECD-approved tax regime.

Legal Information

Tax Information

List of Tax Treaties (DTT)

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