Cyprus – a well known country not just because of its beautiful scenery and people, but also because of its wonderful business allure. For businessmen looking to build or expand their company internationally, Cyprus is one of the top places to go to.
Now, you may be wondering just what makes Cyprus a great place for businessmen trying to make it on the international scene. The answer is simply two words – tax planning.
Tax planning is one of the main things that attracts companies to doing business Cyprus. For businesses large and small taxes are always an issue that needs to be addressed. This is because taxes, more often than not, take quite a sizable chunk out of any revenue that a business generates. With Cyprus tax planning you can save thousands or even millions of dollars every year.
If you take a closer look at the Cyprus tax rates and policies which govern them, you will find that Cyprus is certainly an ideal place for you to start an international business. To date, there are about 100,000 investors in Cyprus, both local and foreign, all of whom support and benefit from the amazing tax structure that Cyprus has to offer.
So, what exactly are the Cyprus tax planning benefits that you will be realizing from building your company in Cyprus? Here are some of the main things that you need to know.
Cyprus has one of the lowest corporate tax rates in Europe
Cyprus, with its low corporate tax rate of 10%, stands out as one of the most feasible locations to build an international company. If you are interested in creating a company that will truly grow and expand, then Cyprus is the ideal choice. With such a low corporate tax rate, you will find that your company will have more resources available to really make it thrive.
Cyprus is part of the European Union
As part of the European Union, you can count on the fact that Cyprus benefits from the effects of the laws that the EU passes. One of the most remarkable laws that will be beneficial for your company is the Double Tax Treaty which will protect your company from double taxation.
Cyprus has numerous laws and policies that promote low tax rates
Because Cyprus is what can be considered a tax haven, there are many laws and policies which favor corporations that pay taxes. There are also plenty special rates and even exemptions that are incredibly useful for any and all companies.
With Cyprus, you will find that your company will benefit tremendously from all sorts of reduced tax rates. For an ordinary person, this may not seem like a big deal, but for a corporation that pays taxes in the millions, such discounts are very beneficial.
Cyprus is easy to invest in
Another key factor that contributes in the popularity of Cyprus as a tax haven is that Cyprus is very, very easy to get into. This is because Cyprus does encourage international trade and business. Government officials have been committed to making it as attractive as possible for new companies to open in their country.
Cyprus offers both established businesses and those just looking to get started a very attractive set of benefits to opening there. The combination of low regulations for starting a new business in Cyprus and low tax rates for both individuals and corporations makes this country ideal for many types of businesses.
Tom is a well respected writer who mainly focuses on the viability of Cyprus and various tax havens all around the world as corporate launching points. He holds a double degree in Business Management and Journalism