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About Cyprus

About Cyprus – Why high net worth individuals, companies, groups of companies, and corporations choose Cyprus for their base of operations?

Cyprus In Brief

The island’s excellent infrastructure, English-based legal system, high quality of life and low cost of living, combined with its well-educated labor force, good industrial relations and generous tax incentives create an ideal business environment.

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Cyprus Companies

The law in Cyprus governing companies is the Companies Law, Chapter 113 of the Statute Laws of Cyprus, which is based on the Companies Act 1948 of the United Kingdom. The constitution of a registered company consists of two documents, the Memorandum of Association and the Articles of Association.

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International Relations

A well-connected country ideal for Business Cyprus is a member of the European Community, a member of the United Nations, the Commonwealth, the World Bank, and the International Monetary Fund. Cyprus also has Double Tax Treaties with more than 60 Countries including Russia, the United States, Canada, China, Ukraine, Egypt, and India. See our updated...

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Government and Administration

Cyprus became an independent Republic in 1960. The Cyprus government structure is modeled on western democracies in which the individual’s rights are respected and private initiative is given every opportunity and encouragement to develop. The Head of State is the President who is elected by the people for a five-year term of office.

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Human Resources

Cyprus ranks among the leading four countries in the world as to the proportion of university graduates to the population. A great number of qualified and experienced professional, technical and clerical staff with fluency in foreign languages (mainly English) is always available for employment at reasonable remuneration.

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Economic Conditions

Cyprus economy is based on a free enterprise system. The Government’s role has been limited to the regulation, indicative planning and the provision of public utilities. The tourist service has become the island’s most important sector. More than two million long-stay tourists arrive every year in Cyprus.

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Types of Cyprus Entities

Private Companies - A private company is prohibited from inviting the public to subscribe for its shares or debentures. It is allowed a minimum of one member and a maximum of fifty. There is also a restriction of the right to transfer its shares.

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