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The country’s attractiveness as a holding company location lies in the fact that Cyprus has a robust, market economy supported by a stable democracy and driven by a diverse, well-educated workforce, along with excellent telecommunications and infrastructure and, most importantly, the lowest corporate tax regime in the EU.
Some non-tax considerations in choosing Cyprus to set up a holding company include:
- Cyprus lies at the eastern-most corner of the European Union and has been considered for centuries a trade centre between Europe, Asia and Africa;
- Cyprus has a young, well-educated workforce;
- Due to the efficient highway network, the extensive port facilities and the new international airports, travelling to and within Cyprus is fast, practical and economical;
- The common banking practice and the legal framework are based on the UK model
- English is well spoken as the working language;
- The tax system of Cyprus is fully compliant with EU requirements and with the OECD requirements against harmful tax practices;
The major legal and tax considerations that a multinational group could benefit by setting up holding companies in Cyprus can be found in our publication.
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