Why Cyprus

The Republic of Cyprus has become a full member of the European Union as from 1 May 2004. On 1 January 2008 Cyprus has adopted the Euro as its official currency replacing the Cyprus Pound.

Cyprus’ exceptionally advantageous and unique tax legislation and infrastructure offers the opportunity for every international organization to organize its affairs in such a manner that will ultimately result in substantial tax saving. Cyprus is emerging as the most favoured jurisdiction in Europe to conduct international business. It has succeeded in differentiating itself from other financial centres, with a favourable tax system based on a wide network of very beneficial double taxation treaties.

Cyprus, as a member of the European Union and in compliance with the requirements of the Organisation for Economic Co-operation and Development (OECD), has reformed its tax legislation and has become an attractive location for the establishment of holding companies.

Cyprus is a respectable EU, non-offshore, non-tax heaven jurisdiction. It combines an “onshore EU identity” with “low-tax’’ advantages. Cyprus companies are EU Companies enjoying the full rights of the EU (based on the European Commission Treaty & the 4 basic freedoms).

Cyprus has an excellent infrastructure allowing clients to create “substance” to their tax planning in the form of setting up offices or operations in the island. During the past thirty years Cyprus has established itself as the main business and financial centre for inward and outward investment from Russia, Central and Eastern Europe and the Middle East.