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About Cyprus

1. Cyprus Generally

1.1. General

Cyprus is a European country with all the facilities that are available in modern countries. The residents are very hospitable and friendly and business activity with the rest of the world is flourishing. There is availability of highly educated professionals and there are excellent transport and telecommunication channels.

1.2 Geography, Climate, Population and Language

Cyprus is situated in the Eastern Mediterranean. There is a very good climate here with about nine months of Summer and three months of Winter. The population is 746,000. The official language is Greek, but English is widely spoken.

1.3 Government and Legal System

As of 1st of May 2004, Cyprus is a member of the EU and almost all its directives have been incorporated in Cyprus laws.

The structure of government is similar to that in western democracies, where human rights, political pluralism and private property are safeguarded. Cyprus is a member of the United Nations, and its specialized agencies, the council of Europe, and the British Commonwealth. The law in Cyprus is based on more or less the same principles as those applicable in the United Kingdom and statutes regulating business matters and procedures are similar.

1.4 The Economy

Cyprus has an open free market economy. The performance of the economy has been such that it has combined, high real growth, with low inflation and low unemployment. Trade and tourism are the most important sectors. Professional services are also thriving.

1.5 Transport and communication

There is a wide network of air routes connecting Cyprus with Europe, Africa and Asia. The island has two international airports. Cyprus has an excellent telecommunications service.

2. Why shall I choose Cyprus?

2.1. People

The people of Cyprus are known for their hospitality and friendliness. The crime in Cyprus is almost non-existent.

2.2. Infrastructure for international businesses

Cyprus has set up everything that is necessary to accommodate international businesses. The government is willing to provide all necessary assistance. Cyprus is a trustworthy European IBC's center. It is not considered as a tax haven. It is considered as a respectable International Business Center. It is internationally acceptable, that serious businesses from all over the world set up companies in Cyprus to access other markets of the world.
Cyprus has complied with the OECD and EU regulations, regarding the issue of harmful tax competition and complied with the criteria set by the Financial Action Task Force, the International Monetary Fund (IMF) and the Council of Europe (COE) in the fight against money laundering.

2.3. Low or zero taxes and double tax treaties with other countries (please see Taxes)

2.4. Exchange Controls

An international business company or an international trust is not subject to any exchange control. Bank accounts can be opened in any currency, in cyprus or in any other country.

2.5. Banking Facilities

There are excellent banking facilities and banks in Cyprus have set up the necessary infrastructure to assist international business to open banks accounts within Cyprus or anywhere in the world and make transfers of funds through simple instructions, by fax or the Internet with quick execution.

Cyprus International Business Companies / Cyprus Offshore Company