When it comes to investing overseas, investors look for a country that is politically stable, that has a well developed infrastructure, and whose government promotes investment and trade through enacting progressive laws as well as providing incentives and a stable environment.
All these are factors that make Cyprus one of the most preferred investment destinations worldwide. It is even easier to invest in this island state because you do not have to reside there permanently. Instead, you can use an investment scheme to apply Cyprus citizenship and become a Cypriot citizen.
The following are some reasons why investing in Cyprus is one of the greatest decisions you can make:
European Union Membership
Cyprus became a member of the European Union in 2004 and joined Eurozone in 2008. This EU membership gives investors access to the wide European market, and at the same time they benefit from lower costs, from being exposed to fewer risks, and from the advantage of trading with a single currency.
Cyprus’s geographical position connects it to three continents—Africa, Asia and Europe—giving it a huge advantage when it comes to trade. The advantageous location allows Cyprus to be a point of commerce among the three continents, giving Cypriot traders access to new markets.
Furthermore, the strategic location allows the country to act as a transhipment center, which makes it possible to ship goods into and out of the European Union, thereby causing it to emerge as a business hub.
Business-friendly tax system
The Cypriot tax system ranks highest among the reasons why investors are choosing this country as an investment center to expand their business interests.
The tax systems are among the most attractive systems globally, the major feature being a corporate tax of 12.5%. Also, Cyprus offers investors from the global community fairly low start-up and running costs. Some other great features of the tax system include:
The well developed and reliable infrastructure that is also improving daily attracts many foreign investors to Cyprus. The transportation network is fantastic and serves the business well with a good road network, which comprises well maintained highways that link to major cities, two international airports—Larnaca and Paphos—and two deep sea ports.
The island also boasts of a telecommunication system that is world-class, thanks to its strength and stability. There is national Wi-Fi and mobile coverage all over the country.
Cyprus offers a great environment in which to live as well as to carry out business. The island has a rich culture drawn from several origins, and the art is amazing. The cuisine and wines that have a long history on the island give a perfect balance between business and pleasure.
Also, there is very minimal commuting to and from work, thus life is very exciting. Another benefit that comes with Cyprus is its low-stress life, that is, low or moderately paced, making working or doing business as fun as play. Sunshine is also present almost year-round, so enjoying warmth and fun on the country’s pristine beaches is very common.
Well established banking and professional services
Cyprus has a well established and organized banking system that offers key services to businesses as well as individuals. This goes a long way in promoting business on the island. Also, there are plenty of well educated and experienced certified accountants and lawyers who are on standby to render their services to businesses.
A great plus for these professionals is being multilingual, as the majority of them can communicate in English, Turkish, Greek, and Russian. Businesspersons have access to services such as financial advisory, legal services, tax advisory, accounting, and management consultancy, among others.
Strong legal and regulatory system
The island has an elaborate legal system, which originates from the English common law practices. The system promotes business by fostering transparency and efficiency in handling matters.