Last Updated on Apr 8, 2020 by James W
Over the past decades, Cyprus has shown itself to be one of the most attractive regions for investors to invest. The revelation that Cyprus has natural gas and oil is another reason for foreign investors to seek Cyprus Dual Citizenship and grow the country’s economy tenfold through investment in the coming years.
According to economic experts, the global recession has significantly lowered the cost of properties, making it a prime time for foreign investors to penetrate this country. Further, there is more in store for foreign investors. This publication seeks to highlight the reasons why these investors should consider Cyprus.
Tax, Permits and Company Incorporation
When it comes to permits and company registrations, this country has the best conditions in the region. Both EU and non-EU nationals have something to smile about. They can buy all the properties they like and get ownership on a freehold basis, respectively.
One of the best efforts Cyprus has made to woo investors is to sign treaties and MOUs with different countries on tax issues. The investors now do not have to worry about double taxation. According to the Cypriot government, over 40 countries are already in agreement to avoid double taxation. Here are some interesting taxation insights:
· Only 12.5 percent corporation tax on net profit
· Removal of distinction between local and foreign investors
· Exemption of taxation of foreign investors who meet simple and achievable conditions as stipulated by the law and international treaties
· The tax reduction rules are attractive both for locals and foreign investors.
· Zero VAT for most international transactions
· UK investors can get either public or private pensions in Cyprus as agreed between the two countries.
Friendly Investment Incentives
The Cypriot banking system upgrade has resulted in many benefits to both local and foreign investors in Cyprus. Now, investment permits and finances are processed within a shorter time than before. The law has allowed for casinos to be opened in the country, which are very attractive to foreign investors. As for tourism incentives, investors can build condo hotels with ease now.
How People Live
As much as there are many financial centers in the world, not many can match Cyprus in costs of living. Life here is far less costly, and this is one great reason why investors must venture to this region. However, the government has upheld high standards when it comes to handling all people in the country. Reports indicate that Cyprus ranks in the top 30 in the world of countries with a high-quality of life index ranking.
The Location
Location of a country can affect it in many ways. Cyprus is one of the countries that is geographically located in a favorable location. World investors have already endorsed the country as one in a financial center in the European region. If you wonder why this is so, then you need to refer to your map and see that it is at the intersection of Africa, Asia, and Europe. Therefore, it can easily be accessed from all the regions through a short flight.
From the above insights, it is easy for any foreign investor to settle down in Cyprus and succeed in their investment goals.
