The Leading Edge - Summer 2008 - (Page 12)

gloBal Working globally: Top 10 misconceptions of doing business in Cyprus By Stavros Strouzas nicosia dasons Business Services Ltd. Cyprus is a tax heaven. Cyprus is a low-tax jurisdiction. Its economic and regulatory regimes follow the Code of Conduct for Business Taxation, comply with the requirements of the OECD and adopt EU directives. Cyprus companies are offshore companies and tax free. After the accession in the European Union in May 2004, Cyprus companies are not considered to be offshore. The tax rate is 10 percent, the lowest in the European Union, benefiting from various advantageous EU directives. distinction and discrimination between international and national companies. The old distinction between local and international companies was abolished in 2003 and the corporate tax rate is now uniform (10 percent). limited ownership of foreign investors in a Cyprus company. Foreign investors no longer need approval from the Central Bank of Cyprus to invest and do business in Cyprus. This means that foreign investors are on equal terms with local investors. One of the 1 2 3 4 12 VOLUME 8 n ISSUE 4 n SUMMEr 2008

Table of Contents Feed for the Digital Edition of The Leading Edge - Summer 2008

The Leading Edge - Summer 2008 Contents Better Negotiations Instant-Response World Leads to New Expectations for Voice Mail Bits & Pieces Top 10 Misconceptions of Doing Business in Cyprus In a Nutshell: Q&A The Leading Edge Alliance

The Leading Edge - Summer 2008

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