The Island’s strategic location along with ideal government policies for residents and non-residents interested in managing their overseas affairs or rendering services abroad, has been contributing for many years into shaping Cyprus as a centre for international business.
Despite the recent adversities Cyprus Banks have endured and as an indirect result the reputation of the Cypriot Service Providers the majority of the clients continue to endorse the Island’s service sector capabilities. Some of the reasons are highlighted below.
Cyprus offers a well-educated, multilingual labour-force where labour costs are significantly lower compared to the European Union average. The vast majority of the population can speak the English language due to the relationship Cyprus had as a former colony of Britain. Another great advantage boosting Cyprus as a reliable international business centre is the consistent and trustworthy legal system which is that of the Common law, inherited from Britain.
The simple most attractive fact about Cyprus apart from the low company tax rate in the European Union is that by being a member of the European Union, a company in Cyprus established by non-members can also serve as an avenue into the European markets. Moreover it can serve as a successful and legitimate tax reducing instrument in countries with heavy taxation schemes and ease the financial burden either in Cyprus or in other countries.