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Business in Cyprus
Cyprus is strategically situated to serve the most valuable trading position between Europe, Asia and Africa.
Cyprus enjoys a stable socioeconomic infrastructure and it promotes both national and international trade and commerce. Cyprus became a member of the EU on 1st May 2004 and thus the limitations related to the minimum level of investment and foreigners' participation percentage have been abolished. The end result is a modern and thriving economy and a perfect gateway for businesses to penetrate and explore new markets.
Cyprus has developed a significant number of bilateral treaties for the avoidance of double taxation with over 47 countries, ensuring that the same income is not taxed in more than one country. Cyprus is in the stage of negotiating the conclusion or awaiting ratification of Double Taxation Agreements with several more countries.
Additionally and most importantly Cyprus offers great tax incentives due to its favourable tax regime which has the lowest fixed corporate tax rate (10%) in the European Union and a very competitive V.A.T. rate (15%) together with all the additional benefits provided by the Cyprus tax law in relation to Dividends, Interest and Royalties. Therefore, Cyprus is the ultimate international business centre for investors who wish to expand to Europe, Africa or Asia and who want to take advantage of Cyprus favourable tax regime.
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