Cyprus Tax Facts 2020

Cyprus Tax Facts 2020

Cyprus is a great choice for doing business. A stable economy, good tax climate and EU membership make Cyprus very attractive for foreign businessmen.

You can find more information about company incorporation in Cyprus in the section Company Registration in Cyprus

Let’s look at the benefits of entrepreneurship in Cyprus:

• simple registration procedure for any type of company;
• low-cost prices for company incorporation;
• intellectual property laws apply;
• full integration into the European Union;
• low taxes.

Let’s look at the the main points of taxation in Cyprus in 2020:

• the presence of double tax treaties with more than 50 states, including: Ukraine, Russia, the USA, Portugal, Spain, Italy.
• there is no currency control;
• corporate tax is only 12.5%;
• VAT – 19%, reduced rates – 9% and 5%;
• 0% tax on income from dividends and other passive income, regardless of where such income is received, in Cyprus or around the world;
• 0% tax on income from profits from the sale of securities, shares, bonds, debentures, etc., excluding profits from the value of shares of real estate in Cyprus;
• 0% capital gains tax on the sale of real estate located not in Cyprus.
• 0% inheritance, wealth, gift tax;
• a 50% reduction in income tax for a period of 10 years for foreigners with a salary of more than 100,000 euros per year.

We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.