- Profits are taxable at 12,5% only
- No Withholding tax on dividends and interests by default
- Euro currency
- Access to SEPA transfer
- Few administrative procedure
- Annual tax audit by chartered accountant is mandatory from the 1 euro of profit
- Cypriot Banks all require a bank reference letter
- 3 banks in Cyprus have bad credit ratings (Fitch, Moody’s): Hellenic bank, Piraeus, Eurobank because they are exposed to the Greek crisis. However, they ask as much paperwork as other banks just like they would not need a deposit.
- There is a real source of political uncertainty due to border shared with the Turkish regime located in North Cyprus.