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1. What is the single most important advantage your jurisdiction provides for Chinese clients? 1) Cyprus’s main advantage is that it’s a prime location for holding companies, which can lead to substantial tax savings. The following key factors make Cyprus the best jurisdiction for a holding company: The ability to extract dividends out of the operating company free of withholding tax or at a reduced rate Cyprus’s wide network of double tax treaties allows this – the highest tax rate is 15% and several countries have a zero tax rate 2) The ability to dispose of investment in an operating...

2015

Executive Summary: Cyprus is an independent democratic republic, and a member of the Commonwealth. It is prosperous: GDP US$21,00 (2010) per head. The economy is dominated by services, with tourism particularly important. Unemployment is low. The Cyprus Government worked hard to create a favorable offshore tax regime while at the same time maintaining a normal-looking domestic economy, albeit with rates of taxation that are low by international standards. The success of this programme is attested by the tens of thousands of offshore companies registered in Cyprus since 1975. However, the island's entry to the EU in 2004 meant a restructuring...

2020

What is unique in your jurisdiction and why Chinese investors should form companies there? Cyprus is an EU country and is a long standing tried and tested financial center. Specifically the Cyprus holding company is widely used in international tax planning.  Chinese investors may choose to take advantage of the beneficial tax system of Cyprus and form a Cyprus company as part of various other corporate structures such as financing, intangible asset ownership, trading, investment fund and international trust structures. What makes your jurisdiction different from other competitors for Chinese investors? Cyprus has excellent and ripe infrastructure to accommodate international...

2014

By Leo Zhang. The Republic of Cyprus is an island country in the Eastern Mediterranean Sea, east of Greece, south of Turkey, west of Syria and Lebanon, northwest of Israel and north of Egypt. Cyprus is the third largest island in the Mediterranean Sea. It is also the third most populous island in the region and one of the area's most popular tourist destinations. Cyprus' strategic location at the crossroads of Europe, Asia and Africa has helped shape its history throughout the centuries, making it not only a major eastern Mediterranean trading hub, but a reputable international business and financial...

ARTICLE OVERVIEW - EXECUTIVE SUMMARY 2014

By Leo Zhang. Because of its strategic location in the Mediterranean Sea, Cyprus has for centuries been a center for trade and a hub of commerce for the surrounding countries. Today Cyprus is a full member state of the European Union and also one of the countries that has joined the single currency, the euro. Tourism is Cyprus's main industry with 3 million tourists visiting every year. There are also high levels of education (spoken languages Greek English) and an abundance of European, American and Chinese products. Life is relaxing in Cyprus with the climate being perfect in all seasons. The...

ARTICLE OVERVIEW - EXECUTIVE SUMMARY 2020

By Tendai Musakwa. Chinese investors looking to establish a successful shipping business would do well by considering Cyprus. The Cypriot maritime industry is ranked third in terms of size in the EU and tenth worldwide. Cyprus has proved to be an ideal center for the establishment of enterprises by foreign ship-owners and other professionals engaged in shipping activities and related services worldwide. Part of Cyprus' attraction to shippers stems from an attractive set of tax incentives and supporting services that make it easy to operate a shipping business there. Generous Tax Incentives for Shipping Operations. The most important reason for...

YACHT & AIRCRAFT REGISTRATION OVERVIEW - EXECUTIVE SUMMARY 2014

By Tendai Musakwa. China and Cyprus established diplomatic relations on December 12, 1971 and the two countries have developed ever-closer economic ties since then. The volume of trade between China and Cyprus increased from 150 million in 2004 to 1 billion in 2010, with an average annual growth rate of almost 40 percent. In the first half of 2012,the bilateral trade volume amounted to 400 million, rising by 1.4 percent compared with the same period of last year. Underlying the robust trade relations between the two countries is a set of bilateral agreements that make it worthwhile for investors from...

CORPORATE & FIDUCIARY JURISDICTION 2020

OCED-whitelisted Cyprus has more allure By Anas Almasri. No longer considered a tax haven, did Cyprus lose its long standing financial allure by joining the EU. Cyprus' unique geographical location situated between three continents has, throughout history, been the main drive behind its focus on benefiting from trade and economical relations between Europe, Asia and Africa. Up to the 1970s Cyprus was viewed as a trade stop between the coastal countries of those continents, leading it to be positioned as one of the world's major re-exporting hubs. Although it still holds that status today, the island has developed into a truly...

CORPORATE & FIDUCIARY OVERVIEW - EXECUTIVE SUMMARY 2014