Cyprus is a member state of the European Union since 2004 and has a strong legal and tax system, as well as more than 30 years of experience as an international business centre, with highly qualified professionals and sophisticated infrastructure. It is a country with a strategic location, long history and culture, as well as nice weather with almost year-round sunshine.
The Cypriot economy has faced challenges as a result of the economic and banking crisis, however, it is now on a recovery path and it is recording positive growth rates. Dynamic sectors like energy, professional services, tourism, mutual funds, shipping, construction and real estate are enhancing this trend.
This KPMG publication provides an outline of the tax advantages and focuses on the main features of the tax regime, its recent reform, as well as the Value Added Tax.
Cyprus offers an attractive and efficient tax regime, which features, among others:
Moreover, through the government’s “scheme for naturalization of investors in Cyprus by exception”, the Cypriot citizenship may be acquired by non–Cypriot investors. Therefore, through this scheme an EU passport can be obtained, within three months, with a minimum investment of €2,5 million.
The publication can be found here.
All content prepared by KPMG Cyprus.