Cyprus tax resident with only 60 days stay in the island each year, benefits mostly individuals, business professionals and entrepreneurs that travel a lot.
Cyprus tax favors companies in various ways but here is some of the most important advantages offered. Expenses incurred wholly and exclusively in earning taxable income are deducted for corporate tax purposes.
For many years now Cyprus is attracting various Intellectual Property Rights companies for all over the world due to the security provided in addition to the important tax exemptions on income tax arising from the use of IP rights.
Cyprus tax regime is very attractive for professionals but of course for enterprises operating all around the world. The advantages and deductions offered place Cyprus’s Tax regime as one of the most attractive and most competitive worldwide.
The high level of business services come to support the attractive Tax regime along other business friendly mechanisms. In Cyprus is easy and fast to setup a company and operate in 8 days.