Invest in Cyprus ► Here is why
Why you should invest in Cyprus
The European island Cyprus was for a long time known as a tax haven. The strict privacy rules and low corporate taxes came as a blessing to some investors, while others stayed away from this somehow sketchy scene. Luckily, Cyprus’ economy has grown tremendously and since it joined the European Union in 2004, the government has worked hard to attract foreign investment in a much more trustworthy way.
Instead of focusing on being a tax haven, the government realized that complying to the regional and international tax laws would lead to more investment. Their tax legislation now fully complies with the EU, OECD and international tax laws, making investing in Cyprus much more trustworthy. Find out why you should invest in Cyprus in this article.
There Are Any Markets To Invest In
If you come to Cyprus, you’ll quickly realize that the investment opportunities are endless. Cyprus is a popular holiday destination for Europeans. This means that holiday houses and other real estate in Cyprus is often funded by foreign investments. Cyprus’ tourism sector is believed to undergo an estimated growth of 5% in the next decade, making it a very attractive investment opportunity.
Infrastructure is also one of the most popular areas to invest in. The government is even offering incentives for those willing to invest in this area. The reason for this eagerness to receive foreign investment for the development of infrastructure is because Cyprus is trying to grow its economy, by making it easier to transport goods on the island in order to make running a small business easier on Cyprus, and by improving the roads for tourism. Both of these will result in an enduring stable economy and financial benefits for the island and its businesses.
Source: picture from Pixabay.com by Dimitris Vetsikas https://pixabay.com/photos/residence-property-house-2219972/ 04-11-2017
Cyprus Enjoys A Strategic Geographical Location
One of the main reasons that many companies establish themselves in Cyprus, or invest in the island, is because of the strategic geographical location. Cyprus is a European country, but is situated closely to West-Asia and Northern-Africa, making it a perfect base for international relations with countries all over the world. Goods can easily be transported through the island and international guests can be received without the need to travel to other parts of Europe that might be further away.
Cyprus Has A Stable Financial System
Even though Cyprus’ tax laws are fully compliant with international tax regulations, corporate taxes remain one of the lowest in all of Europe. At the moment, the corporate tax rate is only 12,5%. Cyprus has a stable economy and has received only positive evaluations by the European Commission and the International Monetary Fund.
Besides the thriving economy of Cyprus, another reason to invest in the island is its easy to manage legal system. The legal system of Cyprus is very similar to the British system due to the fact that Cyprus was a British colony until the 1960’s. Anyone with knowledge of the UK system will be able to navigate Cyprus’ legal system quite comfortably.
Cypriots Make A Happy, Highly Skilled Workforce
The quality of life is exceptionally good in Cyprus, due to the low living costs. The population is well-educated and most Cypriots go abroad to receive international education. These two situations together result in a happy, highly skilled and educated workforce. In fact, more than 55% of the population of Cyprus holds a bachelors’ degree or higher. Because of the need for international products, Cyprus is forced to communicate and work closely with the other countries around it. Therefore, most Cypriots spell English very well, and most of them can also speak Greek and Russian.