Cyprus is a popular location for entrepreneurs who want to set up a company. The island state in the middle of the eastern Mediterranean offers a number of advantages for start-ups, including low taxes, a highly qualified workforce and an excellent infrastructure.
Setting up a company in Cyprus is relatively simple and straightforward. It can be done online and the process usually takes no longer than a week. The costs of setting up a company in Cyprus are very low compared to other European countries.
Cyprus also offers a variety of tax advantages for companies. Corporation tax is only 12.5%, which is one of the lowest in Europe. Companies that generate profits outside Cyprus are exempt from withholding tax.
The Cypriot economy is partly dependent on international trade and is therefore geared towards very open business relationships. Cyprus has excellent relations with Asia, Africa and Europe and offers easy access to these markets.
Overall, Cyprus is an attractive location for entrepreneurs who want to set up a company. With low taxes, a qualified workforce and a first-class infrastructure, Cyprus offers everything a company needs to be successful.
