Page 45 - Annual Magazine 2017
P. 45
BUSINESS | WHY CYPRUS
CYPRUS
Cyprus has in the last
decades, established itself
as a reputable and trust-
worthy financial center
THE CYPRUS
HOLDING COMPANY
The reasons why Cyprus is a perfect holding company location
Cyprus is a full member of the European Union and a member of the The Cyprus tax legislation is fully compliant with the EU
Eurozone. Strategically positioned to connect Europe to Africa, the Acquis Communautaire and all EU Directives. It is in full
Middle East and Asia, Cyprus is a natural hub for business and trade. compliance with the code of Conduct for Business Taxation
and against harmful tax competition and has been recently
The recent political and social upheaval in the Eastern rated as “largely compliant” by the OECD - hosted Global
Mediterranean basin, which has spilled over the wider area of Forum on transparency and exchange of information for
the Middle East, in combination with the political and economic tax purposes. Cyprus has in this spirit, assumed the status
uncertainty in the greater region, not only upgrade the strategic of an early adopter under the Common Reporting Standard
position and geopolitical role of Cyprus in this part of the world, initiative.
Csecurity and stability, in its
they render Cyprus a symbol of
capacity as the Easternmost border of Europe. Aspiring to become the jurisdiction of choice, Cyprus offers
one of the lowest corporate rates in the EU, combined with a
Cyprus has in the last decades, established itself as a reputable notional interest deduction on newly introduced equity and a
and trust-worthy financial center complemented by an advanced fully reformed intangible property regime in line with OECD’s
legal, accounting and banking system, highly skilled and Base Erosion Profit Shifting (BEPS) action plan and the nexus
multilingual workforce, excellent telecommunication systems principle.
and convenient year round flight connections.
Costas Markides - Board Member - KPMG LTD International Tax & Corporate Services
Tel. 22 209246/189 | Email: cmarkides@kpmg.com
44 45
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