Living in Cyprus

"The quality of life is determined by its activities."   

-Aristotle-

Cyprus is the third largest island in the Mediterranean region, ideally positioned at the cross roads of Europe, Asia and Africa and the birthplace of Aphrodite goddess of beauty

Its prominent location has been important in trading for thousands of years as it acted as the link between the three continents. However, with the dramatic changes taking place in the last 20 years, the country has become one of the most important trading and financial services provider in the region.

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At the Crossroads of 3 continents

At the Crossroads of 3 continents

The location of Cyprus make it ideal for both business and pleasure. Being at such a geostrategic location has contributed significantly to the growth of the country as a reputable international business and service center and one the most important trading posts of the area

Climate

Climate

Cyprus enjoys a pleasant Mediterranean climate of long dry summers and mild winters. It has one of the warmest climate in the Mediterranean part of the European Union.

Generally warm temperature season last about eight months. It begins in April and ends at November. In the remaining four months of the year, the temperature tends to remain mild. Rain occurs mainly in winter and snow is possible only in the mountains, in the central part of the island.

Cost of Living

Cost of Living

People in Cyprus enjoy a relatively low cost of living in comparison to the rest of the member states in the European Union. That means that living in Cyprus brings a high standard of living within reach.

Economy and Taxation

The Cyprus economy relies mostly on the services sector with a positive economic outlook and implements one of the most attractive and transparent tax regimes:

  • One of the lowest corporate tax rates in the EU at 12.5%
  • An attractive Double Tax Treaty network covering more than 60 countries
  • Access to all EU Tax Directives
  • Dividend income exemption based on relaxed conditions
  • Capital gains tax exemption
  • No withholding tax on outgoing dividend, interest or royalty payments
  • Gains from trading in securities are tax exempt
  • Notional interest deduction available for equity investment into Cypriot companies
  • Foreign Exchange gains or losses are tax neutral
  • An attractive personal tax regime for international professionals and non-domiciled individuals
  • No succession or inheritance taxes
  • No immovable property taxes
  • A competitive Intellectual Property regime
  • Tailor-made provisions for the investment funds industry
  • Competitive Tonnage Tax for Shipping companies and an approved EU open registry
  • Tax deductions for investment into start-ups
  • DOING BUSINESS IN CYPRUS

    The comparative advantages which Cyprus offers as an International Business Centre derive mainly from:

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    • 1. Full access to European markets

    • 2. Access to 40+ EU trade agreements

    • 3. A member of the Eurozone since 2008

    • 4. Proximity & easy access to major markets due to its location

    • 5. Lower labor costs for technical and professional talents than in other major EU capitals

    • 6. Among the lowest office rental rates in Europe

    • 7.Highly affordable critical business support services

    • 8. The satisfactory and continuous upgrading of the level of infrastructure, in airports, ports, energy and telecommunications.

    • 9. The high quality of consultancy services such as legal, accounting, auditing, etc

    • 10. The close economic and political relations with the countries of the Middle East and of Central and Eastern Europe.

     

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