The Tax Benefits In Cyprus
If you are looking for a place which has amazing tax benefits that can help you create your own international business, then Cyprus is the country for you. Cyprus may seem like a simple vacation or tourist spot for regular people, but for business minded individuals, Cyprus is like a virtual well of international business success.
Part of what makes Cyprus such a great place for international businesses is that it’s simply such a great area wherein tax policies are highly beneficial for corporations. To date, there are over 100,000 international businesses located in Cyprus. That certainly means that Cyprus is a highly appealing location for an international business to thrive and grow.
Now, as mentioned above, it is the Cyprus tax rates which really hold enormous appeal for businesses. So, in order for you to consider Cyprus as the best place for your own business, then it is necessary to learn more about the Cyprus tax benefits you would actually be able to get from this area.
Here is a little compilation of the very top tax benefits that you will be able to get in Cyprus.
Cyprus is a low tax regime
If you look at Cyprus laws and policies that are involved with taxes, then you will see that there are dozens of laws which work together in order to create a great area wherein businesses can enjoy the benefits of low taxes all around.
One of the key elements of this low tax regime in Cyprus is the low corporate tax rate that is present. Cyprus only has 10% of corporate taxes, so this means that businesses will be able to use more of their money elsewhere. Aside from this, Cyprus also has a bounty of other tax exemption laws which make it very easy for international businesses to actually avoid having to pay taxes such as:
- Withholding taxes
- Capital gains taxes
- Dividend taxes
- And many, many more
Cyprus provides a great resource pool for international businesses
Aside from having the necessary laws to reinforce the low tax regime present in Cyprus, another great thing is that it has other businesses, structures, and resources which all work together to help boost the business of international corporations in the area.
In Cyprus, you will have no problem in terms of getting a great workforce since there is a very large and skilled pool in the area. Aside from this, you will also be able to access a really great banking system which really is a huge help to businesses trying to stay private and successful.
Cyprus is a full member of the European Union.
Another really great perk in Cyprus is that it is a full member in the European Union. What this means is that the businesses that are located in Cyprus will be able to access the benefits that the EU has to offer.
Of course, one of the biggest advantages that the EU has to offer is the extensive network involved in the Double Tax Treaty that the EU has implemented. With this treaty in place, an international business in Cyprus will have no troubles when dealing with other countries in terms of business transactions. There will be no hassles with double taxation and other additional costs.
So, what can you say about the Cyprus as an international business haven? Well, if you go ahead and do more research in Cyprus, you are sure to fall in love with it even more. Good luck! For more details and information about the Cyprus corporate tax rates, tax planning and income tax you can read this useful article: http://www.erteamcorp-services.com/cyprus-tax-cyprus-taxes-tax-planning-in-cyprus/