TOP 5 reasons to move your business to Cyprus in 2024

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Modern entrepreneurs have many important reasons to turn their attention to Cyprus, and we have identified the TOP-5:

1. Low corporate income taxes

One of the most attractive reasons why many companies “move” to Cyprus is the low corporate tax.

⇒ The corporate tax rate is fixed at 12.5% and ranks among the “Lowest Corporate Tax Rates in the EU”.

⇒ IP-Box in Cyprus

80% of profits subject to the regime are exempt from taxation. That is, at a corporate tax rate of 12.5%, this could result in an effective tax rate of only 2.5%.

The benefits are not limited to a low corporate tax rate.

Other tax benefits:
⇒ 0% on dividend income
⇒ 0% tax on inheritance, wealth, gifts
⇒ The tax-free minimum income tax is 19,500 euros/year.
⇒ Income tax rebate of 50% for foreign professionals relocating to Cyprus when the employee’s salary starts at €55,000.

2. Ease of opening and doing business in Cyprus

The corporate law of Cyprus regulates streamlined, fast and simple processes for setting up or moving a business and does not require a presence on the island. You can register a company in Cyprus remotely.

In addition, most companies operating in Cyprus use English as their working language. Thus, you will not have language barriers.

3. Strategic location

Cyprus is located at the crossroads of Europe, Asia and Africa, close to trade routes linking these continents.

The geography of this island makes it an excellent strategic location for doing business near three different continents.

4. Low cost of doing business without sacrificing quality

Compared to other EU countries, Cyprus can be 15-20% cheaper for high quality business and quality living.

By relocating your business to Cyprus, you will be able to cut costs without sacrificing quality. Combined with the low taxes in Cyprus, this can double your profits and that of your business.

5. Easy to combine business and family life in Cyprus

If you are planning to relocate your business and family, Cyprus is the perfect option.

⇒ In the Mediterranean region, Cyprus has one of the most comfortable climates. This can be one of the benefits of moving your business to Cyprus as you will be able to conduct your business in a comfortable environment.
⇒ Cyprus is ranked 1st among the safest countries with a population of less than 5 million people.
⇒ Cyprus has one of the best private education sectors in Europe that teach programs in English.
⇒ Excellent healthcare system providing free healthcare.
⇒ The real estate market is full of affordable residential properties, ranging from luxury high-rise apartments to villas on the beachfront.

The above benefits are not the only ones, the above points are just the highlights that make Cyprus so attractive for business.

 

Cypriot lawyers and Feod Group specialists accompany all the client's actions related to the purchase or registration of a business in Cyprus, opening bank accounts and a full range of services for obtaining a residence permit for the whole family.
We will be glad to see you in our office in Cyprus!
Leave us a request or call the Feod Group office in Larnaca
+ 357 99 849 525 (whatsapp)

 

OBTAIN PROFESSIONAL IMMIGRATION ADVICE

If you have any questions in any of the directions, please contact us.

READ ALSO:

🔹 How to register a company in Cyprus
🔹 Taxes in Cyprus. Non-domicile Tax Regime (Non-Dom Status)
🔹  Permanent Residence Permit by Investment in Cyprus

Article author

Anastasia Taran Head of Corporate Services
Ukraine
In 2013, she graduated in law from the National University «Odessa Law Academy» with honors and received a Master of Law degree. Anastasia Taran has experience in international and contract law, as well as corporate and tax law in Europe. Within the framework of Feod Group, she specializes i...
In 2013, she graduated in law from the National University «Odessa Law Academy» with honors and received a Master of Law degree. Anastasia Taran has experience in international and contract law, as well as corporate and tax law in Europe. Within the framework of Feod Group, she specializes in immigration and corporate law of European countries, particularly:
  • family and corporate immigration solutions.
  • establishing a business in Europe.
  • personal and corporate taxation in Europe.
  • opening accounts in European banks.
  • obtaining a tax resident status.
read more
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