Cyprus: An Ideal Company Location

With the legislation that has been passed and it is effective from January 1st 2003 and which regulates the tax treatment of Cyprus companies, it aims to conform to European Union law and the European Union code of conduct and abide by Cyprus' commitment to the Organisation of Economic Cooperation and Development (OECD) to eliminate harmful tax practices.

Cyprus accession into the European Union on 1st of May 2004 has created an ideal getaway for European inbound and outbound investments through Central and Eastern Europe, Russia, Africa, Asia.

The fact that Cyprus offers one of the lowest tax rates in the European Union and it complies with the European requirements renders it as on the best and safest Company jurisdictions in the world.

 

The Verdict

 

The main features of the tax reform are the following: