A successful foreign investment largely depends on the chosen location, one that offers an advantageous framework to allow it to prosper.
Situated at a crossroads between Europe, Asia and Africa, the small but dynamic island nation of Cyprus boasts a strategic and privileged destination for foreign investments for companies and individuals alike. Its strategic location has enabled it to play a prominent role in its success as an international business, beautiful properties all over Cyprus and shipping center.
With one of the lowest corporate tax rates in the EU on net profits of 12.5% and an array of Double Tax Treaties with over 60 countries, Cyprus enjoys an appealing tax system, in full compliance with international laws and regulations, offering complete transparency by virtue of its membership to the European Union, since 1 May 2004 and the European Monetary Union since 2008. Additionally, the EU membership of Cyprus allows potential investors not only access to the EU market and its benefits but ensures the stability and safety of investors.
For shipping-related investments, Cyprus is a highly acclaimed international shipping center with one of the largest shipping registries in the Union and ranking 10th among international fleets, with 1,857 vessels with a gross tonnage going over 21 million. It offers a favorable tonnage tax scheme approved by the Union and provides economic benefits such as no tax on the income derived from the operation of the ship(s), no tax on interest earned on working capital of the ship(s) and no estate duty on the inheritance of shares in a ship-owning company. Thus, Cyprus offers a sovereign flag of progress and quality with a total of around 60 ship management companies operating in its territory.
For individual foreign investors, Cyprus provides a unique opportunity to obtain a Permanent Residence Permit (within 3 months) or EU/Cyprus Citizenship within 3-6 months following a rigorous process by the government carrying out its procedural due diligence.
The Citizen through Investment Program allows an applicant to obtain the Cypriot citizenship through naturalization provided they make a €2 million investment in real estate and satisfy additional criteria.
Alternatively, Permanent Residency status may be issued to an applicant who purchases new immoveable property with a minimum market value of €300,000 plus VAT.
A gorgeous climate, clear blue waters, delicious cuisine and the hospitality of the Cypriot people is just the cherry on top!
As your lawyers in Cyprus, we at G KOUZALIS LLC can assist you for all your investment needs.