CYPRUS A TAX HEAVEN

The following together with many other facts and developments, have encouraged international companies to establish a base, and even more, to actually be established themselves in the Republic of Cyprus from where they can conduct their international businesses:

· The low corporation tax rate of 10%, one of the lowest corporation tax rates in the world.

· The exemption from tax of foreign dividends and profits from permanent establishments abroad.

· The abolition of withholding taxes on dividends and interest payable to non-Cyprus tax residents.

· The management and control concept used to determine the residence status of companies.

· The variety of treaties between Cyprus and other countries.

· Cyprus a member of the European Union.

· The beautiful, easy and secure life in general of the people leaving on the island, for both locals and foreigners.

· One of the best telecommunication services in the world, including fast internet facilities that connect individuals as well as enterprises to the rest of the world.

· The drastic improvement in the competitiveness of the local University and colleges that attract thousands of foreign students on the island every year.

· Cyprus modern, strong and reliable Banking system.

· The ideal geographic position of the island.