WHY DOES A BUSINESS CHOOSE CYPRUS?

The geopolitical events of recent years make us think about what is happening and how to live and build a business in the future. The search for answers to these questions leads entrepreneurs and their families to change the center of vital interests. As a result, we are witnessing a large­scale movement of business, assets, capital, and specialists around the world.

The Republic of Cyprus is one of the few countries in the European Union that is comfortable in terms of climate and conditions for doing business.

One of the components of Cypriot investment comfort is a large number of companies offering services for the creation and administration of legal entities. In addition, an important role is played by initiatives at the state level: attractive tax rates and various benefits for entrepreneurs. Here are the recent innovations that the government of the country has approved to attract foreign business:

• Simplified requirements for companies wishing to hire workers from outside the EU;

• Unprecedented (up to 50%) income tax benefits for employees who moved to the island and got a job for the first time.

Remember the existing tax breaks: the lowest corporate tax rate in the EU, the IP Box regime, and tax incentives for film companies. However, a closer look at the issues of moving a business and its processes to another jurisdiction reveals many nuances.

What should be the ownership structure?

Where and how can you quickly open bank accounts?

How to properly build the logistics of cash flows and optimize taxation?

How to properly arrange employees?

And often, simultaneously with such issues, it is necessary to solve the owner’s problems: capital preservation, taxation, obtaining non­domicile status, inheritance matters, and business succession.

Over the years of work of the Wise Wolves group of companies, we have concluded that an integrated approach is essential for successfully solving all problems. Therefore, our range of services includes the following:

• the creation of a company;

• legal, financial, and tax advice;

• opening current accounts in our payment institution;

• opening brokerage accounts in our investment company;

• solution of migration issues;

• creation and management of personal investment trusts.

Wise Wolves Group specialists are ready to accompany you at every stage of business relocation to Cyprus.