Cyprus is an Island located on the Mediterranean Sea. For the longest time some of the inhabitants of Cyprus wanted to be an offshoot of the nation of Greece and there were continuous debates and skirmishes as the Greek Cypriots attempted to effect this change forcibly through war. Their non-Greek counterparts, mainly the Turkish Cypriots, however, opposed this move. Its main religion is the orthodox Christian religion with a few Muslims and its currency is the Cypriot Euro.

It has been a member of the Commonwealth since 1961 after gaining independence from British administrative rule in 1960. The Commonwealth (formerly known as the British Commonwealth) is an organization made up of 54 member states that were once a part of the British Empire ruled by the monarch of the time during what is famously referred to as the colonial era. As a member it shares the same values with the other 53 member states in as far as issues of good governance, human rights, free trade and world peace is concerned. In addition, it is one of only two member states of the Commonwealth whose official language is not English.

This however does not pose any hindrance or act as a disadvantage to any company or companies (English speaking or not) that may wish to do business in Cyprus. It is an island known worldwide for its sandy beaches, beautiful scenery and near perfect weather all year round. For decades, it has and continues to serve as one of the world’s popular holiday destinations. It joined the European Union, a political and economic union with 27 primarily European member states, on May 1, 2004 and this opened up new avenues of business for this island nation. In Cyprus, several tax incentives are available for any offshore company that is willing to open and run its business on this island nation. Within the European Union, Cyprus has the lowest taxation charges in a country that is not considered to be off shore.

The standard corporate tax in this nation is 10 percent. For shipping of goods, Cyprus has a very attractive percentage tax of zero percent (0%), which is truly unbeatable. The maritime management companies that are responsible for this shipping are taxed at 4.25 percent. This is also on record as being the lowest taxation rate for maritime management companies as well as corporate companies in the European Union. These taxes and many others can be reduced by using the various management options available to off shore companies in Cyprus. Different types of contracts can also be put together by the company or companies in question to reduce the amount of corporate tax deductible even further.

This beautiful island nation that has Turkish listed as one of its official languages is also considered a premier destination for finance companies, holding companies, and royalty trading companies. It is a not only a friendly nation but an investor friendly nation and one of the best places on earth to run a successful, profitable company from.

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