Cyprus has been sought as a base for international business for its highly developed infrastructure. A competitive tax system and open investment policies operating within the framework of European Union Law has placed Cyprus in the conscious of international business.
Many companies are reaping the benefits of a favorable tax regime by transferring the base of their holding companies from their current jurisdiction to Cyprus.
Cyprus has a thriving business community of bankers, lawyers, accountants and company trustee professionals advising and servicing new and existing business transactions undertaken in and through Cyprus each year.
Boosted significantly by EU succession in 2004, the surge of international business is a reflection of the economic transformation of the island over the past couple of decades.
Today with business services and financial intermediation, the island is serving as a business bridge between Europe, Asia and Africa, attracting investors with its flat 12.50% corporate tax rate (the lowest in the EU), its skilled legal and accounting professionals and advanced banking system and national infrastructure.