Seven reasons why you should establish a business in Cyprus

17/08/2020

Cyprus is the third largest island in the Mediterranean and has a ton of business opportunities for locals and foreigners despite its small size. Setting up a business on the island as an immigrant offers benefits including profitable international ventures and tax planning purposes.

Several factors make Cyprus a great business destination. These include economic stability, a strong consumer market backed by a high per capita income, which promotes the tertiary service industry, and a modern free-market economy. The country also enjoys a good political climate, and its strategic location at the intersection of Africa, Europe and Asia makes it network well with other countries.

The following are several reasons why you may want to consider setting up a venture in Cyprus:

 

Tax Advantages

Relocating and starting a business in Cyprus will offer a great opportunity to enjoy the rewards of its great tax system. The country has entered into double tax treaties with over 40 countries, and the UK is one of them. Besides that, profits less than 17,088 euros are not subjected to capital gains tax and resident businesses pays corporate tax at 12.5%. All these tax benefits mean great savings if you relocate to be a resident as you do business there.

Benefits of EU Member States

The geographical location of Cyprus allows it easy access to three continents, so trade is available with countries from the three regions. What’s more is that Cyprus is a member of the European Union. As its citizen, you will have easy exportation to and visa-free travel across all EU member countries and even non-EU member states. Property ownership is even better with the recent lifting of property restrictions. Cyprus banking systems also align with the EU regulations. It is a top-notch system offering impeccable service.

Reliable Legal System

If you buy a home, you do not have to worry about owning a home as far as the legal issues are concerned, as is the case in some countries. The country’s legal system is based on the UK system’s standards and has a reliable land register. You can buy a home with no worries since, as the title-deed holder, you will be the sole legal owner of the piece of land and have total peace of mind.

Do you want to relocate to Cyprus and acquire citizenship? You can easily get citizenship by investment, and it is one of the fastest world-over, enabling you to obtain citizenship status in six to nine months. You can check out www.one-visa.com

Exceptionally High Living Standards

Relocating to Cyprus will see your overall standards of living significantly improve. One reason for the improvement is the low cost of living, which is far lower than in most EU member states, the US, and even Japan. Therefore, you can business well with lower costs, thus ploughing back profits and expanding.

Low crime rates

Cyprus prides itself on being among the countries with the lowest crime rates in Europe. The Cypriots are honest, friendly and peace-loving people, and it is rare for crime incidents to be witnessed. With such an environment, entrepreneurship can thrive because of no or few worries of being conned or robbed and the focus is on business.

Friendly Climatic Conditions

Most people tend to migrate overseas due to bad weather conditions such as extreme cold. People yearn for sunshine so that they can have great moments outdoors. Cyprus has some of the friendliest weather because the sun shines for at least 320 days a year. Sun lovers enjoy the perfect weather and can stroll on the beach, swim and have fun. Business is also bound to do well in the ideal weather since people’s movements are not restricted and everyone is in high spirits.

Top-Notch Amenities

The island has well-developed infrastructure and social utilities. The education system is excellent, so you will not worry about your kid’s schooling. You will also get a well-trained workforce if you need it, making businesses easy to run. The health facilities are quite impressive with the latest technology and well-trained and motivated medics. The use of English also makes communication easy with medical staff in business and other settings.

Cyprus is undoubtedly a haven of peace and a land of opportunities that you can relocate to and establish a successful business. You can easily earn residency and citizenship through the investment to enjoy the rewards of being a Cypriot. All you need is to work with a reliable immigration agent and all will be sorted within no time.