3+1 Benefits of Relocating your Business to Cyprus
Cyprus is a popular destination for people looking for to relocate their business to a country that offers wide ranging benefits. A move to Cyprus could be just what your business needs to take it to the next level, boost profits, and improve your overall standard of living. Here are just some of the amazing benefits you could experience should you relocate your business to the beautiful island of Cyprus…
1. A higher quality of life in stunning surroundings
We sometimes perhaps forget that the key to our entire business, is people, and that includes ourselves! By relocating to Cyprus, you’re working, and living in the most beautiful of Mediterranean islands, with the beach on your doorstep, fresh air, year-round sunshine, and a relaxed pace of life. In Cyprus you can make your downtime truly count as there are so many opportunities for you and your family to enjoy water sports, take to the mountains hiking, or simply unwind at a seafront taverna and watch the sunset. In addition, with great educational centres, world class healthcareand a very low crime rate, you’ve got peace of mind that your family is safe and well looked after, while you concentrate on your business.
2. A positive attitude to business
Cyprus as a country is very ‘pro-business’. What we mean by this is that the country is well geared up for businesses. The legal system is very solid, and is closely based on the UK system, so anyone relocating from the British Isles should find it very familiar and easy to get to grips with. Cyprus also holds a unique geographic position, at the crossroad of continents, giving ease of access to many markets as well as great transport links for both business and leisure and a reliable and advanced banking system.
3. Great tax benefits and a positive economic outlook
Economically, Cyprus is in a good position, with positive growth being recorded each quarter. There are some major developmentsacross several sectors such as energy, real estate, construction, and shipping that are further boosting this economic upturn. In addition, when you relocate your business to Cyprus, you’ll be able to take advantage of some superb tax benefits such as the incredibly low rate of corporation tax which currently stands at just 12.5% as well as double tax treaties covering more than 60 countries.
4. Fast Track Business Activation
The Fast-Track Business Activation service has only recently been approved by the Council of Ministers and is set to be an incredibly useful service for speeding up business relocation processes for those moving to Cyprus from overseas. The service aims to simplify a range of processes by offering registrations via a single point of contact and covers many aspects of business setup such as company registration, including VAT and Income Tax registration, registration with the Social Insurance Registry and Employers’ Registry, and the facilitation for the issuance of residence and employment permits in Cyprus. Simply put, all the red tape you need to get through to legally run a business in Cyprus has been massively simplified by combining the processes.
To be eligible for Fast Track Business Activation you must have a physical presence in Cyprus, with a business premises that is separate from your private residence. You must have had a minimum turnover of €500,000 per year for at least 3 years out of the previous 5 and if your businessis new, you will need to have a reliable 5-year business plan showing your growth potential.
Put your relocation goals in our safe hands
A dream home will be high on your list when you relocate to Cyprus, and this is where Sweet Home Estates can step in. With more than 15 years in the business, working with leading property developers, we have exclusively managed a range of high-quality property development projects and are here to help you find your perfect property for your new life in Cyprus. To find out more, visit our website, or get in touch if you have any questions.