Business Opportunites

1. As a gateway to the European Union

   • Cyprus offers an opportunity for non-EU companies to establish themselves in the greatest single market in the world, through the 'passporting' of Cypriot-based entities, e.g in the insurance and financial services sectors

   • Cyprus is within easy reach of the EU's major business centres, with regular and direct flights from its two international airports.

2. As a gateway to Eastern Europe

   • Cyprus shares a time zone with all of Eastern Europe and is only 1 hour behind Moscow

   • Cyprus is served by most of the national carriers in the region, making access quick and inexpensive.

   • Cyprus has concluded double taxation treaties with more than 40 countries including Russia and many Eastern European countries. An absence of anti-avoidance provisions makes a Cypriot company an ideal holding, licensing and investment vehicle.

3. As a gateway to the Middle East

   • Cyprus enjoys a high degree of political stability, and is therefore the ideal stepping-stone for EU and non-EU companies alike wishing to exploit the lucrative markets of the Middle East.

   • Cyprus maintains excellent diplomatic relations with most of its neighbours

4. As a gateway to efficiency and low costs

   • Cyprus benefits from a low corporate tax regime and an impressive range of double taxation treaties. For companies managed and controlled in Cyprus, whether their income derives from local or international sources, profits are taxed at 10%, the lowest rate in the European Union.

   • The rule of law is paramount in Cyprus. Cyprus has a common-law legal system, inherited from the United Kingdom, which controlled Cyprus until its independence in 1960. Training for the Cypriot Bar mirrors that of England and Wales.

   • Cyprus' expansionary economic policy has made the administrative system modern and efficient, and red tape has not been allowed to proliferate. Registration procedures are straightforward.

   • Whilst the official languages of Cyprus are Greek and Turkish, English is spoken by the majority of the population, and is almost universally used in commerce, industry and administration.

   • Standards of living in Cyprus are high. Office space and living accommodation are plentiful and inexpensive, keeping overheads down. The workforce is amongst the most highly qualified in the world.

   • A high level of confidentiality has long been a hallmark of the Cypriot financial services sector. In a family-based society which is by its very nature closer-knit and less anonymous than those of larger nations, privacy is highly valued. Flows of information have always been tightly regulated.