Cyprus provides an ideal platform for conducting business and investments with Europe as well as its neighbouring markets in the Middle East and North Africa.
The Republic of Cyprus is an island country in the Eastern Mediterranean. It is the third largest and third most populous island in the Mediterranean. Positioned as it is geographically, Cyprus has become an ideal gateway and platform for conducting business and investments with Europe as well as its neighbouring markets in the Middle East and North Africa.
Limassol is the second largest city in Cyprus located on its southern coast. Its geography has provided the Island with a colourful history and left many permanent reminders, which together with its subtropical Mediterranean climate have led to it being a popular destination with tourists.
The island's status as a member of the EEC brings further benefits to international business and complements its traditional links with central and Eastern Europe, Russia, India and China. The Cyprus authorities are also continually striving to create an environment conducive to international business. As a former British colony, the legal system in Cyprus broadly mirrors that of the UK. The main currency is the Euro and whilst Greek and Turkish are the main languages, English is widely spoken and predominates in business matters.
Cyprus offer a strong modern infrastructure for doing business internationally, as well as high professional standards, but with significantly lower operating costs than other offshore centres.
Cyprus’ time zone enables it to act as a conduit to East and West, it further benefits from comparatively lower set-up and maintenance costs, as well as from strict standards of confidentiality and excellent international transport links.
Cyprus also offers one of the lowest corporate tax rates in the EU (12.5%), tax-exempt business profits of non-resident companies, tax-exempt gains on the trading and disposal of securities, tax-exempt gains on the disposal of subsidiaries, tax-exempt dividend income (subject to applicable criteria), tax-neutral group reorganisations, tax-relief for group losses, the full adoption of the EU Parent-Subsidiary Directive, the full adoption of the EU Mergers Directive, the full adoption of the EU Directive on Mutual Assistance and Cooperation and full adoption of the EU Royalty and Interest Directive.
Additionally Cyprus benefits from one of the widest networks of double tax treaties, offering numerous opportunities for sophisticated tax planning structures and international business.
There are four airports in Cyprus which include Larnaca International Airport, Nicosia International Airport, Paphos International Airport and Ercan International Airport. Regular daily flights are available to and from a multitude of international destinations including the UK.
Cyprus also benefits from having four major ports which service shipping, commercial, passenger, leisure and recreational travel. There are regular sailings to mainland Greece as well as other destinations around the Mediterranean.
Whitmill Trust has established its offices in Limassol and is able to offer all the experience, professionalism and dedication required to take full advantage of the benefits that Cyprus, as a jursiduction, offers.