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Cyprus

The Republic of Cyprus gained its independence from British colonial rule in 1960.

On 1st May 2004 Cyprus became a full member of the European Union (EU).

Cyprus has been transformed into a key financialjurisdiction in the eastern Mediterranean, serving as a conduit between the EU and the increasingly important markets of the Middle East, Russia and Asia.







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The geographical proximity of Cyprus to the Middle East represents an important factor in creating partnerships between Europe and the Middle East, two different regions bound by mutual interests.

It is the Cypriot Government's intention to become the region's economic and financial operations centre, a communications and transport hub and a meeting place for people and cultures.

With its advanced technical infrastructure and skilled human resources Cyprus can become a base from where European enterprises launch their regional activities.

It has established itself as an international financial and business centre with the EU's lowest corporation tax rate of 10%.

Cyprus has entered into more than 40 double tax treaties, unusual for a low-tax jurisdiction. The general effect of these treaties is that Cyprus-registered offshore entities that have tax exemptions in Cyprus will have the same exemptions in the treaty countries.

The aim of the Government of Cyprus has always been to promote itself as a 'tax incentive country'. This policy was endorsed when, on the 2nd April 2009 it was placed (along with the Isle of Man) on the OECD's 'White List' of jurisdictions that had substantially implemented the internationally agreed tax standards.