Before talking about the 10 reasons why to invest in Cyprus, let’s talk about this lovely island. Cyprus is the Mediterranean’s third-largest island and the third most populous, with a population of 1.21 million people. The country serves as a crossroads between Europe, Asia, and Africa, making it perfect for residential and corporate relocation. For the past few years, many investors are looking into investing in Cyprus since it growing exceptionally with new opportunities popping up regularly. The central position allows for easy access to all major shipping routes and excellent airline routes to all major airports, including Dubai, London, Moscow, and Athens. Cyprus’ legal and tax systems have since drawn foreign business people, corporate firms, and entrepreneurs.
In this article, we will talk about 12 reasons to invest in Cyprus in 2021. Here are our picks:
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1. Low Tax Benefits of Cyprus
One of the most attractive factors for many people to invest in Larnaca, Cyprus, is the low corporate tax rate. The corporate tax rate is 12.5%, one of the lowest in the European Union and fully compliant with EU and OECD regulations. The benefits extend beyond the low tax rate. Dividend revenue proceeds from the sale of shares, bonds, and other financial instruments, foreign exchange (FX) dividends, and earnings from Overseas Permanent Establishments (PEs) will all benefit from tax exemptions.
2. Strategic Location for Your Investment in Cyprus
Cyprus, is at the crossroads between Europe, the Middle East-Asia, and Africa in the eastern Mediterranean. The geography of this island makes it an ideal geographic position for doing business with three continents. The location is one of the most important reason why you should invest in Cyprus.
3. Cyprus is a Member of the EU
Cyprus is a European Union member that uses the Euro as its currency. The island has access to the single market and the customs union. As a member of the European Union, Cyprus enjoys the same rights as any other EU country.
4. Standardized British Legal System
Cyprus was a British colony until 1960 when it became a republic after gaining independence. Throughout this time of evolution, the British legal system remained intact and is still in use today. This structured legal system may be beneficial to your investment in Larnaca because it is well-known and observed.
5. Talented & Highly Educated Workforce
Cyprus’ general population is well-educated and has received training at local or foreign institutions worldwide. Cyprus has a highly-skilled population, with 55 percent of the workforce holding a bachelor’s degree or higher.
The majority of people can talk in English, which gives them an advantage along with their high educational level. They are the ideal workforce for your company and your investment projects.
6. Pleasant Living and Working Environment
The average annual temperature in Cyprus ranges from 25°C during the day to 15°C at night. It has 300 days of sunlight a year. It is a beautiful place to live and work—the island’s deep tendency toward art and entertainment adding to this enviable lifestyle.
Cyprus has a much lower cost of living than the other similar countries and at the same time ranks 27th in the Economist Intelligence Unit’s 2019 Quality of Life index.
7. Why Invest in Cyprus: Family Friendly
Cyprus is a peaceful place with many benefits for families who live there or intend to move there. Cyprus is so appealing to families because of its excellent healthcare infrastructure, primary and secondary colleges, hospitals, and other amenities. There will be more relocations due to this family-friendly climate, which will result in more investment opportunities for you in Cyprus.
8. High-Quality Professional Services
Cyprus is home to many well-trained and qualified certified public accountants and registered advocates who are willing to offer their services for your future investment. The majority of speak English, Greek, and Russian. With this easy access to high-quality legal, accounting, strategic consulting, and financial advisory services, you can assure that your investment and business operations are in good hands and done professionally.
9. Easy and Flexible Residency Schemes
By investing in Cyprus, you have an opportunity to obtain a permanent residency which takes only 3-4 months. Cyprus laws do not require foreign investors to reside in Cyprus and to become tax residents. A perfect opportunity to get all the tax benefits for your future investments.
10. Fast Company Formation Procedure and Low Fees
In Cyprus, forming a corporation is a simple process. The Cypriot government is assisting foreign investors in its efforts to attract foreign capital. The registration process takes no more than ten days. Different corporate firms’ fees (including the government fees) vary from €1,000 to €2,500, depending on the firm.
Cyprus is a great place to start investing if you’re looking for a unique spot. The advantages mentioned above aren’t the only ones. The above are only a few of the highlights of what we think makes Cyprus so appealing for investment.
Related: Complete Guide on Cyprus Investment