Cyprus
- EU member state compliant with EU laws and regulations
- Eurozone member
- Strategic geographical location between Europe, Middle East, Asia and Africa
- Mature business centre with highly qualified professionals and sophisticated infrastructure
- Extensive range of excellent legal and accounting services
- Cost-effective setting-up and ongoing operational services
- Favourable EU and OECDapproved tax regime
- Access to an extensive network of double tax treaties allowing for tax efficient structuring of investments
- Collective investments can be listed on the Cyprus Stock Exchange and other recognised EU stock exchanges
Cyprus investment on business
Business
Cyprus Investment on property
Property
Cyprus legal services
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The Securities Market Regulator
The Cyprus Securities and Exchange Commission (CySEC)
The Cyprus Securities and Exchange Commission (CySEC) is the independent public supervisory authority responsible for the overall supervision of the investment services market, the transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association. The mission of CySEC is to exercise effective supervision to ensure investor protection and the healthy development of the financial industry under its supervision. The vision of CySEC is to establish the Cyprus securities market as one of the safest, most reliable and attractive destinations for investment.
12.5%
Corporate Tax Rate
65
Countries
Double Tax Treaties
IFRS
Accounting Standard
€48.5
billion (July 2019
Bank Deposits
International Memberships
European Union, Eurozone,
the Organisation for Economic
Co-operation and Development (OECD),
Financial Action Task Force (FATF)
BUSINESS CENTRE
Passport value: 171 Visa-free
AGENTS: 122,000
OFFICES: 8,800
There are a number of reasons why you should invest in Cyprus.
Cyprus is fast becoming one of the top emerging investment fund centres in Europe in light of its continuous efforts to upgrade its legislative and regulatory regime, which is backed up by its strong network of financial and professional services providers. Determined to stay at the forefront of industry developments and offering unique access to high-growth markets, as well as a professional and cost-efficient jurisdiction for funds, the country has developed into a key regional domicile for investment funds and asset managers. The country’s population is one of the most highly educated within the EU, and the expertise of its service providers has established Cyprus as a location of choice for international fund promoters and investors seeking secure and advantageous fund solutions.
Cyprus is increasingly on the radar of market players thanks to its cost effectiveness and flexible legislation, proximity to the Middle East and Africa, and longstanding preferential access to Eastern Europe.
Cyprus has established itself as a leading provider of corporate structuring, international tax planning and other professional and financial services, and serves as a key services hub in the Eastern Mediterranean – acting as a business bridge between Europe, Russia, the Middle East, Africa and Asia. interest received by open and closed end collective investment schemes is considered ‘active’ interest income and taxed only at 12.5% corporate tax (no defence tax)
All investment funds in Cyprus are regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC). The watchdog regulates AIFs, UCITS funds, AIFMs and UCITS Management Companies, as well as MiFID regulated investment firms.
Whether in private equity, hedge funds or mutual funds, the strong talent pool and broad spectrum of services in Cyprus can help investors capitalise on opportunities and provide specialised knowledge and insight into a wide range of operational, technological and regulatory issues.
Despite the positive developments and impressive growth witnessed in the last few years, a key challenge for Cyprus is attracting larger funds. Currently the jurisdiction is ideal for regional players, start-up funds, alternative funds, as well as larger entities looking to diversify into new asset classes with minimum risk and cost. Cyprus is also benefiting from deoffshorisation measures in other parts of the world and seeing increasing interest from those seeking new EU regulated jurisdictions.
Cyprus has seen exceptional economic growth reaching just shy of 4% growth in 2018, making the country one of the fastest growing economies in the euro zone. A further driver has been the developing funds industry, and increasing inflows of FDI into multiple sectors.
Cyprus is a beautiful friendly country in Mediterranean area and an EU member. Also is a gate and crossroad between East and West. Cyprus is generally considered a very welcoming and easy-to-do bussiness jurisdiction. Setting up a company in Cyprus is fast , straightforward and simple. Also has the most attractive tax regime. Is a financial centre and a pivotal bussiness hub. As a former British Colony Cyprus is aligned with English Legal System and is fully compliant as a member state of EU with EU Legislation.
- 48 Double Tax Treaties
- 12,5% Corporate Tax
- OECD compliant
- 0% Tax on Dividends
- Though investment programme one may obtain the Cypriot citizenship
- A fast growing competetive economy which offer opportunities , stability and flexibility.
- EU and European Monetary union member state
- Strategic geographical location at the crossroad of three continents-ideal for expansion in new markets(EU, Middle East, etc.)
- An active Stock Exchange and robust Securities and Exchange Commission
- Low set up and operating costs
- Advanced transport and telecommunication network
- Renowned international shipping centre
- High standard of living
- Highly educated multilingual experienced workforce
- Nice climate
- Perfect educational system
- A Cyprus Company can be set up within 2-3 bussiness days under the fast track process.
- Application process takes approximately 6 months to acquire an EU passport( the shortest in the EU).
Cyprus investment on business
Cyprus Company Formation
The Republic of Cyprus is heaven for business visionaries, entrepreneurs and corporate exercises, who need to do an organization arrangement for the most part in light of its dynamic interrelation overall exchange and the advantageous duty rates it offers. The principle authoritative body overseeing the guidelines and approaches of enterprises in Cyprus is the Organizations’ Law. Contingent upon the kind of organization you wish to set up, you have to follow the separate methodology spread out right now make the most appropriate organization to address your issues.
General situation for foreign companies
The Republic of Cyprus is a built-up money related focus and flourishing business center, with a huge swath of speculation openings in key development parts of the economy. The island’s optimal key area progressed framework and high caliber of life are vital motivations to move and live on the island yet are likewise at the core of a speculator’s decision to contribute to Cyprus. The island is perfect speculation the entryway to the European Association (‘EU’), also as a gateway for venture outside the EU, especially into the Center East, India, and China.
The competitive advantages of Cyprus as a universal monetary focus are essentially advanced by a safe and direct legitimate what’s more, administrative system, in view of English custom-based law standards. Offering outside organizations a commonplace and dependable system inside which to work, Cyprus’ lawful framework is additionally completely consistent with the EU, the Budgetary Activity Team on Illegal tax avoidance (FATF), OECD, FATCA, the Money related Security Discussion laws and guidelines and EU AML mandates.
The most common types of companies
There are two types of companies falling into this category, namely the Private Limited Liability (Ltd) and the Public Limited Liability (PLC). The two are distinguished by the size and the number of shares they have.
A Private Limited company does not have a required minimum amount for the capital shares. The shareholders subscribe shares amongst them, either monetary or non-monetary, which are given nominal value and cannot be transferred. The liability to the company’s debts and obligations is appointed to each member to the extent of the nominal value of their respective shares. The maximum number of partners to such a company is up to 50.
Consequently, the liability of the shareholders is limited up to the amount payable for the allotment of the shares and in the event that for any reason the company enters into financial problems, the shareholders of the company are not obliged to fund the company or contribute towards its obligations.
More information about participation in Cypriot companies or businesses
The applicant should have made a purchase or should have participated in companies or organizations established and operating in the Republic of Cyprus with investment costs of at least €2,0 million. The invested funds shall be channelled towards the financing of the investment objectives of these companies exclusively in Cyprus, based on a specific investment plan. The applications shall be evaluated to verify that the companies or organizations have proven physical presence in Cyprus, with significant activity and turnover and employ at least five Cypriot or citizens of European Union member-states. The minimum number of employees shall increase if more than one applicant invest simultaneously or almost simultaneously in the same business or company. Also, the employees of the companies need to have legally and continuously resided in Cyprus during the five years preceding the application submission date.
Cyprus Investment on property
Investment in real estate, land development, or infrastructure projects
In line with the Cypriot Government’s intention to increase foreign investment and spur economic development, it has recently simplified its processes for issuing residence permits to applicants from non-European countries. The main requirement is the purchase of new, immovable property for a total market value of at least EUR 300,000 plus VAT. Applicants must submit an application form accompanied by a contract of sale and proof of payment of at least EUR 200,000 plus VAT. The contract of sale must have been submitted to the Cyprus Department of Land and Surveys. The property can also be purchased by a company provided that the company is registered in the name of the applicants or the applicants and their spouses, and they are sole shareholders or beneficial owners. An applicant may purchase up to two residential properties, or one residential unit and one shop, or one residential unit and one office provided that the combined value exceeds EUR 300,000.
The Government of Cyprus has specified that new properties qualify, but can be purchased directly from a developer-only. If an applicant buys two units, both must be purchased from one developer. Applicants must submit a letter from a Cyprus bank confirming they have deposited a minimum capital amount of EUR 30,000 from abroad into a local account, which will be locked for three years. At the expiration of this period the money will be released without restrictions. Applicants must provide supporting evidence of a secured annual income of at least EUR 30,000 derived abroad. This income must be increased annually by EUR 5,000 for the spouse and each child, and by EUR 8,000 for each dependent parent.
These figures may include income from employment, rents, pensions, and dividends from shares. Upon completion of these steps, the residence permit generally becomes available within two months. The residence permit has unlimited duration and is considered permanent as long as the applicant remains the owner of the purchased property. Residence permit holders are entitled to apply for Cypriot citizenship through naturalization after holding a residence permit for seven years, enabling them to qualify for a Cypriot passport.
Cyprus property law & regulations
Purchasers of Cyprus property will be very secure as any information related to their potential purchase can be traced from Land Registry records prior to the completion of the transaction. Also, after the purchase, their contract of sale or title deed transfer is registered or takes place at Registry.
Depositing the contract of sale to the Land Registry gives the purchaser the right to seek specific performance of the terms and conditions of the contract. Thus to register the property and title deed into the purchaser’s name once the title deed will be issued.
Purchase of Cyprus property by EU citizens
As per Cyprus property law, EU citizens do not require any permission to buy Cyprus real estate property. EU citizens are treated equally as Cypriot Citizens and can purchase real estate without any limits. They can register as many properties as they want in their name.
Purchase of Cyprus property by foreigners (non-EU citizens)
Non-EU citizens are entitled to purchase Cyprus properties, but they should apply for permission to register it in their names. This application is submitted at the District Office of the City that the property is situated after the contract of sale is signed. The permission is given to all purchasers, and this procedure currently is just a formality. The required time for obtaining permission is about 2-4 weeks.
Permission is allowed with some limits which apply for each family (husband and wife), the limit is two units from the below:
- Apartment or house.
- A villa on a plot of land up to 4014 m2.
- A plotland up to 4,014 m2 provided that a residence is going to be constructed soon.
- For the acquisition of bigger plots of land or other property types (offices, commercial, industrial, etc.) permission might be granted under certain conditions.
Cyprus citizenship benefits
Cyprus is located in the southeastern Mediterranean Sea, at the crossroads of Europe, Asia, and Africa. The strategic location of the island has played an important role in its development as a financial and trade center. With its warm climate and convenient geographical position, Cyprus is an appealing country to global citizens. The benefits of Cypriot citizenship include:
Visa-free travel to over 171 countries as of January 2020
Permanent residency in Cyprus is valid for life
Residency card is obtained within two months through the fast-track process
Access to Cyprus and EU education system
The whole family and parents can apply to get a residence permit
PR holder might be eligible to apply for becoming Cyprus Tax resident
