Cyprus Jurisdiction

Why Cyprus?

LOCATION

Cyprus is an eastern Mediterranean island strategically located at the crossroads of 3 continents; Europe, Africa, and Asia. The island’s area is approximately 9.251m2 with a population of around 800,000.

TRANSPORTATION & TELECOMMUNICATION

Cyprus has two international airports that offer daily flights to most European, Asian, Far East and major African countries. There are also two ports from where any kind of cargo can be shipped almost anywhere around the globe. The proximity to the very busy shipping and air routes connecting Europe to the Arab, Asian and Far East countries established Cyprus as a strategic center for international business activities.

The Island is one of the top countries in the telecommunication services with a telephone network that has direct connections to more than 200 countries.

LANGUAGE

The official languages are Greek and Turkish but also English is widely spoken

CURRENCY

Since 1st May 2004, Cyprus has become a European Union Member State and has successfully faced the challenges of integration without any significant difficulties.

Cyprus joined the Euro Zone on 1st January 2008 and adopted the Euro as official currency which replaced the Cyprus Pound

LEGAL SYSTEM

Our Legal system is based on the common Law and is identical to the British Common Law. Of course, some modifications were adopted in 2004 in order to comply with the EU framework and the EC Directives.

BANKING

Most banks have set up International Business Centers in order to exclusively serve the business needs of international business companies. Accounts in any currency can be held with local banks without any exchange control restrictions.

Any transaction can be done any time through e-banking and there is also a 24hr support.

DOUBLE TAX TREATIES

Cyprus has concluded double taxation treaties with more than 40 countries which provide important tax advantages and tax planning opportunities for both companies and individuals.

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