General
Cyprus is a tropical island in the eastern Mediterranean, located at the crossroads of Europe, Asia and Africa.
Despite the recent events with the banking sector, Cyprus still maintains the lowest corporate tax rate in Europe (at 12.5%) as well as a significant number of Double Tax treaties (more than 50) that can work as a base for sophisticated tax planning structures.
Europe and Cyprus Investment Firms
Cyprus is part of the EU since May 1st, 2004 and part of the EMU (Eurozone) since January 1st, 2008. Amongst a plus 100,000 international business entities that are registered and operating out of Cyprus, many of them also have fully operational offices in Cyprus.
The number of CIF – Cyprus Investment Firms – that choose Cyprus as their base of operations today exceeds 190 Licensed Members. Through solid regulated provisions and a harmonization with Europe’s MiFID, Cyprus today is one of the most recognized places to set up investment operations.
Not only that, if one takes into consideration the large number of firms that employ today Cypriot and foreign residents, one can come to the conclusion that the levels of experienced human resources are extremely high. allFX-Consult worked with a large number of professionals that today comprise the management of many CIF’s therefore we are in constant communication with top tier highly skilled personnel to recommend to our clients.
Climate and Services
The strong international connections of the commercial banks of Cyprus, enable them to perform global banking services. The legal system in Cyprus is based on English Law and the English language is widely spoken and used in official business and commerce. Apart from English, due to the rapid expansion of the FX industry in Cyprus, there is a variety of spoken languages from fluent native speakers that worked in this industry for years.
Cyprus, being a tropical island, has excellent climatic conditions. With steady summers and winters, the weather still plays a big role in the decision for individuals to choose it as a destination to raise their families along with their corporate responsibilities.
The telecommunication services currently are of the higher standards and frequent air connections (from 2 airports) in and out of the island make the transition easier for regular travelers.