The New Force in Global Commerce

Article excerpt

With its accession to the EU, Cyprus is now the ideal gateway for EU inbound and outbound investment, complimenting the longstanding and traditional links that Cyprus has with Central and Eastern Europe, the Middle East, Russia, India and China.

Accession to the EU was a natural choice for Cyprus, dictated by its culture, civilization, history, European outlook and adherence to the ideals of democracy, freedom and justice.

With its strategic location at the crossroads of three continents, excellent commercial infrastructure, efficient legal and administrative procedures, low operating costs, high level of professionalism, political stability, favorable tax incentives with the lowest corporate tax in the EU of 10% and no withholding tax, cutting edge telecommunications, European-level standard of living, and airlinks to all major destinations, it is no wonder Cyprus has long enjoyed a reputation as an established and reputable international financial center, favored Corporate Holding Jurisdiction and a telecommunications node as well as a major tourist destination.

Cyprus is now one of the most respected EU jurisdictions, with a legal framework in line with EU and OECD requirements. As such, it is not identified with countries engaged in harmful tax practices or with non-cooperative countries. Cyprus has maintained a balance so that the creation of a favorable commercial environment, offering straightforward registration procedures, constructive administrative measures and an impressive range of double taxation treaties, has not disturbed the impeccable reputation enjoyed by all international businesses on the island.

Every modern business requires all-round expertise and Cyprus offers a wealth of qualified professionals who can provide advice and assistance across the entire spectrum of modern business and investment with labor costs that remain significantly lower than the EU average.

Cypriot business professionals' broad knowledge and understanding of the markets of Eastern Europe and the Middle East, combined with the existence of a large number of International Business Companies in Cyprus, constitutes a substantial advantage for those who decide to use Cyprus as a base for penetrating regional markets. …