Cyprus is an alluring destination for businesses seeking to relocate or redomicile their operations. The country is world-renowned for its high quality-of-life, advanced infrastructure, multilingual workforce, and excellent tax benefits.
In addition to the above-mentioned advantages, when relocating your company to Cyprus, you’ll also benefit from the following:
- Favourable Tax Regime
Cyprus has a competitive tax regime, with a corporate tax rate of 12.5%, which is extremely low when compared to other European countries. There are also a range of incentives and exemptions for businesses to benefit from, including attractive and constantly expanding double taxation treaties, and no withholding tax on outgoing payments.
- Skilled Workforce
Cyprus has a highly educated and multilingual workforce, many of whom possess a strong background in the science, technology, engineering and mathematics (STEM) fields. In October 2021, the Cyprus government announced a policy designed to attract employees and companies from third countries, particularly within the fields of shipping, technology, innovation, pharmaceuticals, biotechnology, and biogenetics. As a result, the country’s small population is home to a highly skilled and diverse workforce, therefore you will soon find the talent you need to grow a successful business.
- Strategic Location
Cyprus is strategically situated between Europe, the Middle East and Africa, making it an ideal hub for businesses looking to expand into these regions. For centuries, it has been a strategic platform for other larger nations, and today plays a major role in geopolitics and trade relations. It is also in close proximity to busy shipping and air routes, which link Europe with the Arab world and the Far East.
Redomiciling to Cyprus
Redomiciling involves moving the legal domicile of your company to Cyprus, while keeping the actual operations in another country. This can be a simpler and less disruptive process than relocating your entire operation, while still offering significant benefits.
Some of the major advantages of redomiciling to Cyprus include:
- Tax Optimisation
Redomiciling your company to Cyprus can help you optimise your tax structure and take advantage of the country’s favourable tax regime and investment incentives, including tax exemptions and deductions, grants and low-interest loans, to encourage businesses to invest in the country.
- Access to the EU
Cyprus has been a member of the European Union since 1st May, 2004. This membership gives the country access to the EU market and all the benefits that come with that, including helping to expand your customer base and grow your firm.
- Streamlined Administration
Cyprus offers an incredibly streamlined and efficient administrative process for redomiciling companies, which is renowned for being smooth, stress-free, and straightforward. By using the services of Chesterfield, we guarantee a significant emphasis on attention-to-detail, and complete customisation of services.
Growing your Business in Cyprus
Once you have relocated or redomiciled your business to Cyprus, you can start growing your operations in the country.
Cyprus offers a range of opportunities for businesses looking to expand. With a hassle-free administrative process and a variety of investment incentives, Cyprus is the obvious choice for businesses looking to grow and expand. Whether you are relocating your entire operation or redomiciling your company, Cyprus offers a wide range of opportunities to help you achieve your unique business goals.
Chesterfield is a leading provider of corporate services, including relocation and re-domiciliation. If you are considering relocating or redomiciling your business to Cyprus, we’re here to help.
Using Chesterfield’s services will provide you with a wealth of benefits, including:
- Expert Advice
Chesterfield is home to a team of experienced professionals who provide expert advice of all aspects of relocation and re-domiciliation in Cyprus. They will help you understand the legal and regulatory requirements, tax implications and other factors that may impact your decision.
- Administrative Support
Chesterfield can help you navigate the intricacies of relocation and re-domiciliation. By using their in-depth and advanced administrative services, this will ensure all necessary documentation is filed on time and in the correct format.
- Corporate Services
Chesterfield offers a number of corporate services to help you relocate or redomicile your business to Cyprus. These services include company formation, registered office services, director and secretary services, and corporate administration services.
- Tax Optimisation
We can help optimise your tax structure and take advantage of Cyprus’s favourable tax regime. We can also advise you on the best tax planning strategies, and ensure you’re in compliance with all relevant tax laws and regulations.
Contact Chesterfield for Relocation and Re-domiciliation Services
Considering relocating or redomiciling your business to Cyprus? Allow Chesterfield to provide you with expert advice, support and services to grow your business to new heights. With their extensive experience and in-depth knowledge of Cyprus’ business environment, Chesterfield is here to help make your transition as smooth and stress-free as possible.
Contact Chesterfield today.