Denizen Cyprus

CYPRUS

Lifestyle
Cyprus is located in the Mediterranean Sea, within a short distance from Greece, Lebanon, Syria, Turkey and Egypt. In other words it as the point where Europe, Middle East and Africa meet, making it the most desirable location for traveling. Cyprus enjoys a pleasant Mediterranean lifestyle, beautiful with sand beaches, 320 days of sunshine and welcoming people in a peaceful environment. Cyprus offers many benefits such as a high standard of living, modern transport and infrastructure, outstanding academic institutions (with numerous accredited
 
European Universities), top quality medical services, a stable economy and government and a strong legal framework which is based on British law and fully compliant with EU directives. The country is known for its long and rich history, famous as the Jewel of the Mediterranean and the birthplace of Aphrodite, the ancient Goddess of Love from the Greek mythology. The official language is Greek and Turkish, however English is widely spoken.


The Republic of Cyprus is a full Member of the European Union since 1st of May 2004 and joined the Eurozone on 1st of January 2008.
The Republic of Cyprus became a member of the United Nations, the Council of Europe the Commonwealth and the Non-Aligned Movement after its
independence in 1960. Cyprus consequently joined into other international organization such as the Organization for Security and Cooperation in Europe and the World Bank.

TAXATION
Cyprus has one of the lowest and most favorable tax system in Europe, it also offers many tax exemptions for non-residents. Non-residents are only responsible to pay taxes for income generated in Cyprus. Additionally, there is no withholding tax on interest income or dividends earned in the country. Cyprus has in place Double taxation treaty with 43 countries.
BUSINESS AND BANKING
Cyprus is a favored business base for international companies for its geographical location between Europe, Middle East and Africa. Cyprus is a great hub for banking and its banking system has a good understanding of International Trust laws and nominee services for those who wish to have confidentiality and privacy.