The central geographical location in comfortable reach of many countries, the business-friendly legal environment of Cyprus as well as the many international companies being well established in Cyprus provide the start-ups with a lot of business opportunities.
The shipping industry is very well developed, Cyprus has the 3rd largest fleet in Europe, the 10th largest fleet in the world, and Cyprus is the 2nd largest ship management centre in the world.
The tourism industry in Cyprus is very well developed and provides a lot of opportunities for entrepreneurs.
Although temporarily affected by the crises in Europe and Cyprus, the real estate and construction business is still a major industry for Cyprus. Recent real estate investors moved from smaller objects to larger objects.
International trade, whether goods touch Cyprus or not, was and remains an important business sector of Cyprus.
Information and communication technologies became an important driver of productivity, growth and economic performance crossing horizontally all sectors of the economy. The government of Cyprus has identified ICT as one of the country’s priority growth sectors and has developed a Digital Strategy and Action Plan for immediate implementation
Due to the beneficial taxation of profits from intellectual property, software companies moved to Cyprus or opened either subsidiaries or their headquarters in Cyprus.
Cyprus is committed to ensuring the security of its energy supply, protecting the environment, fostering healthy competition in the energy sector and encouraging the development of renewable energy technologies and production. Cyprus also aims to positively contribute to the European energy security of supply.
Cyprus ranks first in the world in solar energy use for water heating in households, and has achieved significant progress in the production of energy from Renewable Energy Sources (RES).
The existence of world-class deep-water natural gas reserves in Cyprus Exclusive Economic Zone (EEZ) has attracted a lot of attention from potential international investors, while bringing new and exciting opportunities to the energy sector itself. With the energy developments
in neighbouring countries, the prospects may be there for Cyprus to become an energy hub in the Eastern Mediterranean.
Cyprus provides with a number of substantial business incentives, mainly consisting of tax-related advantages.
Some key incentives:
|Taxable Income (EUR)||Tax Rate (%)|
|0 - 19.500||0|
|19.501 - 28.000||20|
|28.001 - 36.300||25|
|36.301 - 60.000||30|
|Pension from services rendered abroad||5|
Euroserv can help you to take utmost advantage of the business incentives of Cyprus, can set up your company if needed through its affiliate Shanda Consult Ltd (www.shandaconsult.com), and can handle the processes of your applications for resident permits and work permits (employment visa or so called “Pink Slip”).
Please do not hesitate to contact us!