Setting up a company in Cyprus is not only associated with tax advantages and a qualified workforce, but is also characterized by efficient incorporation processes and low-cost company administration.
Minimal bureaucratic hurdles when setting up a company
The Cypriot government has made considerable efforts in recent years to simplify and speed up the company formation process. The bureaucratic hurdles have been minimized, making it easier for investors and entrepreneurs to start their business activities. The efficiency and speed of this process are crucial in order to set up companies effectively and cost-effectively.
The Cypriot government has also taken various measures to minimize the administrative burden on companies. These include the introduction of digital platforms and electronic services that enable companies to carry out their administrative tasks efficiently and promptly.
Low annual maintenance costs
Another advantage for companies based in Cyprus is the low annual maintenance costs. The ongoing administration and maintenance of a company on the island is cost-effective and efficient. This reduces the total cost of ownership and allows companies to focus their resources on business growth opportunities.
Professional English or German speaking service providers for company formation
Cyprus also has a variety of professional service providers, including law firms, accounting firms and business consultants, who can assist companies in managing and complying with all legal and regulatory requirements. They speak fluent English and, with Unite Markets, perfect German.
Low tax rates
Cyprus offers a variety of tax advantages that entice companies to relocate to the island. The low tax rates in particular make Cyprus an attractive location for companies.
More money for employees
Payroll tax in Cyprus is relatively low compared to many other European countries. This means that employees can keep more of their salary and companies can reduce their wage costs.
Only 12.5% corporation tax
Corporation tax in Cyprus is also extremely competitive. With a rate of just 12.5%, Cyprus is one of the countries with the lowest corporate tax rates in Europe. This allows companies to effectively maximize their profits and exploit their growth potential.
Cyprus also offers other tax advantages such as low taxation on dividends and capital gains.
Overall, the tax advantages in Cyprus are an important factor for companies when deciding where to locate. The low tax rates and reduced labor costs help companies to strengthen their competitiveness and be successful in the long term.
Overall, Cyprus offers a highly favorable environment for managing and establishing a business.