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.
Cyprus government in a continuous effort of modernising the sectors of the economy contributing to GDP growth introduced an ambitious plan in attracting investment to sectors relating to technology and more specifically to Research and Development. The incentives are aiming in attracting both local and foreign direct investments in the sector of Research and Development (R&D) which are involved in producing innovative products, services and processes.
Incentives have been designed in attracting investment by providing generous tax breaks, removal of government red tape and less strict immigration rules for citizen’s origin from countries outside the EU, and can be enjoyed once the operations are set and managed through Cyprus.
In the below brief analysis the incentives offered by the local mechanisms and schemes are distinctly divided in Companies, Owner of the companies – Investors and Employees of such companies.
Companies which are operating in research and development sector of the economy are enjoying substantial benefits in relation to the following:
Owners/Directors of innovative companies.
Owners/shareholders and directors of innovative companies using Cyprus as their primary resident as part of managing the operations in Cyprus enjoy the following:
How can KTC help you?
Our firm can assist you set up your business in Cyprus and managing all the formalities in the process of operating your innovative business. Our services can assist you on the following:
Investors willing to invest in innovative startups in Cyprus, now have a good reason to do so. Tax exemptions and various other incentives apply.
The program was launched to create jobs, promote innovation, research, develop the business ecosystem and support the economic development of the country. But how Cyprus Startup Visa helps and attracts foreign entrepreneurs?
The local tax legislation along with the simplified procedures make the Cyprus company a very attractive base to operate. Cyprus is a home for some international colossal companies as well as for new startup due to the incentives announced in 2017.
Cyprus Holding companies ensure the reduction of risk for owners and can provide simultaneously the ability of ownership and control on other companies. Cyprus is one of the most favorable destinations for the forming of Holding in Europe for many reasons.
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