Cyprus Business

Cyprus Business-Facts

- Democratic country with a free market economy
- Strategic location at the crossroads of three continents

- Modern and efficient legal, accounting and banking services

- Treaties for the Avoidance of Double Taxation with over 40 countries

- No capital gains tax on the transfer of shares

- No withholding tax on dividends
- Cyprus companies pay only 12.5 % tax on NET profits
- Excellent telecommunication amongst the most developed in the world
- No estate duty on the inheritance of shares in a ship owning company
- Wide and growing network of air-routes connection to Europe, Africa, America and Asia
- No income tax on the emoluments of officers and crew

- No stamp duty on ship mortgage deeds or other security documents

- Signatory to numerous maritime conventions

- Party to an extensive network of bilateral maritime agreements

- Competitive ship registration costs and annual tonnage taxes
- Full protection for financiers and mortgages

- Favorable tax regime for ship management and other offshore enterprises

- Low set-up and operating costs
- Excellent telecommunications and easy access by air and sea

- Availability of highly qualified managerial, clerical and technical staff
- No tax on profits from the operation of a Cypriot registered vessel or on dividends received from a ship owning company
- No capital gains tax on the sale or transfer of a Cypriot registered vessel or the shares of a ship owning company