Cyprus Tax Trends - What is attractive for overseas companies right now (overview)

Recent Tax Trends

We summarise below the profiles of the latest companies which relocate to Cyprus with the associated benefits

• Technology Companies - taking advantage of the 2.5% Corporation Tax that applies to them (IP Box Regime)
• Head Quartering - companies relocating their employees enjoying significant payroll tax savings including very low tax deductions for senior staff and one of the highest tax free payroll amounts in Europe coupled with a relatively low social security system.
• Companies from 3rd countries - relocating to Cyprus enjoying simplified visa requirements (and new tax schemes currently in the process of been voted)
• High Net Worth Individuals - enjoying worldwide tax free dividends and high quality lifestyle
• Solopreneurs - individuals working from their laptops at our beautiful beachfronts
• Shipping Companies - enjoying taxation based on the net tonnage system which results to significantly low taxes
• Investment Firms & Funds - enjoying tax free disposal of securities and tax benefit form capital introduced resulting to less than 2.5% corporation tax
• Film Production Companies - enjoying a cash or tax rebate of up to 35%
• Double Tax Avoidance

This trend is also reinforced by Cyprus' strong double tax treaty with 65 countries which ensure that individuals, shareholders and corporations will not be tax twice; in their homeland and Cyprus.

CYAUSE Audit Services Ltd

CYAUSE Audit Services Ltd is performing Statutory and Internal Audit Engagements on a daily basis as this is our core, day to day business. Whether an investment firm regulated by the Cyprus Securities and Exchange Commissions (CySEC) or a limited by shares company we can perform the internal audit engagement tailored to your needs with ultimate purpose to add value to your organisation.

CYAUSE Audit Services is an Audit & Assurance firm with offices in Nicosia and Limassol. During 2015 we have been awarded by I.C.P.A.C and the A.C.C.A (local and international association of Chartered Certified Accountants) for the Quality of our Audit Services and our Office's Procedures.

Being a Truly International Audit & Assurance firm, we have associates from all over the world and we are constantly looking for new associates to expand our network further. At present, CYAUSE Audit Services operates internationally as Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience. Covering almost 40 jurisdictions with over 2 000 professionals, we support more than 10 000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and process at least 170 000 payslips globally.

CYAUSE Audit Services Ltd is also member of the 3E Accounting Network, an international accounting network which originates from Hong Kong and has more than 80 members from all over the world.

If you would like us to assist you with an internal or external audit engagement please contact us at kt@cyprusaccountants.com.cy or call us at +357 22 336 321.

Information about CYAUSE Audit Services and the Cyprus Corporate & Tax System can be obtained from our Website or our YouTube channel which provides valuable information about the Corporate & Tax Environment of Cyprus.