Third largest island in the Mediterranean and Union of two different cultures - Greek and Turkish, Cyprus knows how to bring attention to entrepreneurs of the world. Become one of them!
Incorporate in Cyprus!
- Cyprus is an island nation located in the eastern part of the Mediterranean Sea
- second most popular tax haven for Czech firms (after the Netherlands)
- The lowest tax on corporate income tax in the European Union, offering a 12.5% tax on corporate income and becoming the lowest rate in the EU
Changes in tax haven structure.
As most of us know, 2013 was a difficult year for Cyprus, it got into financial difficulties and asked the EU and IMF rescue package, which was estimated at 17 billion euros. But the reputation of Cyprus as a tax haven and a place for money laundering was not perfect. Cyprus eventually received financial assistance around 10 billion euros. But he had to commit to raising the tax on corporate income from 10% to 12.5%, and selects the one-time tax of 9.9% on deposits over 100 thousand and EUR 6.75 % of the lower deposits. It did damage the reputation of Cyprus as a tax haven, and partially by outflows in other locations.
At present, despite the increase of corporate tax, Cyprus still attracts Czech firms on tax optimization, international investment protection and greater legal stability, comparing to Czech Republic for example. Despite all the problems in Cyprus, it still remains the easiest and most stable option in Europe for enjoying the benefits of foreign companies. The main disadvantage Cypriot jurisdiction is impossible of its use for purposes of anonymity, because one of the conditions for granting financial assistance from the EU to greater cooperation in the exchange of tax information.
But still Cyprus has a lot of advantages and annually attracts more and more entrepreneurs:
- Low Corporate income tax of 12.5%, still remains one of the lowest in Europe
- the absence of complicated bureaucracy, like in a lot of countries
- legislation with European standards, so you don’t have to adapt yourself to new legislation system.
- large number of agreements on avoidance of double taxation. If you have an international business with clients,partners all around the globe, we recommend you to Incorporate in Cyprus NOW!