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Why Choose Cyprus For Business


Cyprus enjoys a number of comparative advantages that mainly derive from:

· its strategic geographical location at the crossroads of three continents; Cyprus can be the bridge for business between the EU and the Balkans, Middle East and Asia and Africa,

· its favorable business climate, which is directly related to the prevalence of conditions of macroeconomic stability,

· the high level of education in the island; Cyprus has a well-educated labour force which enjoys a competitive, as compared to international standards, level of remuneration,

· the island’s modern infrastructure; the state of the infrastructure in transport, energy and telecommunications provides the right supporting environment for business. Cyprus also enjoys a modern legal, accounting and financial system,

· the close economic and political relations Cyprus has developed with its neighbouring countries,

· its membership in the European Union; the membership offers benefits related to the free movement of trade, workers and capital. Moreover membership is a catalyst for long term economic growth and enhances competitiveness and thus innovation, higher output and productivity in all sectors of the economy,

· the introduction of the Euro; greater international clout, stable prices, a common identity, ease of travel are among the multiple advantages offered by the Euro,

· the satisfactory living conditions for foreigners, as well as

· a generally favorable tax regime; Cyprus is committed to the OECD to eliminate harmful tax practices and has already complied with the EU Code of Conduct for Business Taxation. Corporate taxation is as low as 10% and the network of agreements for the avoidance of double taxation extensive; network currently covers more than 33 states including Canada, Germany, France, Italy, Kuwait, Greece, China and Russia.

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SCORDIS, PAPAPETROU & Co LLC is a Lawyers’ Limited Liability Company (Reg. No. 221102) regulated by the Cyprus Law Council and the Cyprus Bar Association (Reg. No. 003), Reg. Off. at 30 Karpenisi Street, 1077 Nicosia, Cyprus.