In a globalized economy where multinational companies are pressed to maintain and increase quality while cutting costs to meet increasingly higher client expectations, Cyprus provides a complete value proposition:
European Union Member State
After a long journey of over three decades, the Republic of Cyprus became a full member of the EU on May 1, 2004. Accession to the EU was a natural choice for Cyprus, driven by its culture, civilization and history, as well as its unwavering commitment to the values of democracy, freedom and justice. EU accession has launched a new era of opportunities and responsibilities for Cyprus.
Highly quilified and multilingual labour force
Cyprus has a young, well-educated talent pool. The country is committed to education and is focusing on reforms to achieve sustainable growth. Since 2004 Cyprus has consistently allocated over 6% of GDP of public expenditure on Education. Great value for money An average annual starting salary for a young graduate with a Bachelor Degree is €22,800. The employee will contribute €1,500.
Lowest EU corporate tax rate
Lowest Corporate Tax rate in the EU of 10% Exemption from Tax: Dividend income Profits from overseas permanent establishments Dividend No withholding Tax on: Dividend income Interest and royalties paid from Cyprus Double Taxation Agreements Cyprus has developed a wide network of Double Tax agreements with 44 countries, ensuring that the same …
FDI track record
Cyprus is one of the most attractive locations for foreign investments, ranking among the frontrunners of the world indicating both high FDI performance as well as high FDI potential, based on the latest data of the Central Bank of Cyprus in 2010. In 2010, Cyprus attracted 3,600 million Euro in Foreign Direct Investment (FDI), while in 2009, Cyprus attracted a total …
Macroeconomic stability with successful economic performance
Cyprus has a modern, free-market, serviced-based economy with a long record of successful economic performance and positive growth. Cyprus enjoys macroeconomic stability which is reflected through various indicators including Real GDP Growth, Inflation and Unemployment.
Efficient legal, accounting and banking services
Acknowledging that information and knowledge would be the drivers of sustainable growth in the global economy of the future, Cyprus has undertaken a major role in facilitating the exchange of ideas, services and support among professionals worldwide. In fact, in 2011, more than 80% of the country’s economy is based on the provision of services. Legal services Cyprus inherited a legal.
Cyprus’s strategic location at the crossroads of three continents has been a major factor in shaping its history throughout the centuries and its development into not only a major eastern Mediterranean trading post but also a reputable international business and services centre. Upon membership into the European Union, Cyprus is being transformed into a key outpost in the Eastern.
Advanced telecommunications network
Transportation Two international airports, a modern road network and multipurpose port facilities have long established Cyprus as a commercial, financial and business center in the region. More than 35 Airlines operate scheduled fl ights from and to Larnaca International Airport (5 km from Larnaca town centre) and Pafos International Airport (15 km east of Pafos town).
Reputable International Shipping Centre
Cyprus is a highly reputable international shipping centre, ranking among the 10 leading maritime nations in the world; More than 1,000 registered vessels with 21 million gross tonnage under the Cyprus flag; More than 130 ship owning and ship management related companies maintain offices in and conduct international activities from Cyprus collectively controlling a fleet of 2,300 ships with 46.
Living and working on the island for all seasons
Cyprus offers a wonderful environment for a very comfortable standard of living Indicatively, according to the latest publication of the Human Development Index (HDI) which is a measure of the standard of living of a country, published by the UN Development Program (UNDP) in 2011, Cyprus ranks as the 31st highest in the world, with a score of 0.840.
More info @ CIPA