If you are seeking to increase your corporate profits and you are investigating the Country of Cyprus, look no farther -- they have the lowest corporate tax rate available in Europe .Plus, when visiting and doing business in Cyprus you have the pleasure of her superb Mediterranean climate a tough combination to beat!
The big question is -- What makes Cyprus an ideal offshore corporate banking and tax haven location? This small country, actually an island-nation, is famous for being one of the least taxed nations on the globe.To make it even more inviting it has the least amount of taxation of all the 25 member states of the European Union.
Beyond a doubt, this makes Cyprus a highly attractive offshore center when it comes to incorporation, running a business, and banking. Also the country has an excellent name for being highly reputable and well regulated.This translates into a very safe place to invest and do business.
With over 17,000 offshore IBCs (International Business Companies) incorporatedin Cyprus , it gives you a wide variety of financial institutions to choose from. In addition to these superlatives, expatriates have the extra advantages of: 1) When setting up a business or incorporating in Cyprus you do not have to pay any taxes on income derived outside of its borders, and 2) Pensioners only have to pay a minimum of five percent tax on their income.
A little background information: Cyprus is an island-Republic (3,572 square miles), roughly half the size of New Jersey, located in the eastern Mediterranean Sea, south of Turkey, and a former British colony winning their independence in 1960.Nicosia is the capital a very friendly city.While the two official languages of Cyprus are Greek and Turkish, most Cypriots also speak English making it a good location for doing worldwide business.Approximately 13% of the population speak Turkish andabout 84% speak Greek.Also, there is a minority of people who speak Armenian and Arabic.
Another excellent virtue of doing business in Cyprus is that its infrastructure features some of the highest standards in the telecommunications industry, and it is a highly developed country compared to its national surroundings in the Middle East . Cyprus has two international airports and two major seaports. The airport traffic is around 360 commercial flights each week.The seaports are just as busy with over 100 different shipping lanes and over 15,000,000 tons of cargo being imported and exported each year.Truly, this is a thriving economy and a prime setting for investors.
Because of its geographical location, and its outstanding business mentality, Cyprus has become one of the most flexible countries in the world when it comes to offshore banking, and it is a highly respected center of commerce. Yes, Cyprus is performing the tax haven dream -- they manage to maintain a balance of being highly regulated, and at the same time are extremely flexible when it comes to foreign investments.
With a government that takes pride in its modern infrastructure, and has produced a climate that is most favorable for doing businesses, it should be on every companies "short list" of offshore tax havens.
