Cyprus Double Tax Treaties

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Cyprus is a good location for your assets, yourself, your family, your boat and your life. Depends what you are looking for. Cyprus is not one of the cheapest offshore jurisdictions available, but nor is it one of the most expensive in which to locate an offshore structure, or spend your retirement. There is an efficient and well-maintained infrastructure in place, and the standard of living is high for the most part.

The government usually encourages independent contractors, offshore employees, and those who wish to retire to Cyprus, and although residents are subject to income tax, for the most part this is only levied on income deemed to have arisen in Cyprus. Although it has shied away slightly from the 'offshore' image it once had, and has been forced to implement some changes to its legislation in order to satisfy the OECD, it is still generally regarded as a safe and secure location in which to do business or reside, and as a shipping registration location, it is widely considered to be unparalleled.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Elena Kyprianou | Attorney Advertising

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