Monday, 7 December 2015

How to Start a Business in Cyprus New Business Start-Up Articles

If you are planning to start a business in Cyprus, you have come to the right place! There are many reasons to start a business in Cyprus, not least the proportionally low tax rate which currently stands at 12.5%.
At the time of writing, this is lower than in any other EU country. There are additional benefits on offer to non-residents and in relation to capital gains, personal income and favorable relations with other countries. You are also able to earn up to €19500 before you start to pay tax. The Ministry of Energy's Business in Cyprus website has more information as well as a section dedicated to Business Startup. It is estimated that the population now exceeds 1 million and the gross domestic product is more than $23 billion - a lucrative and growing market for start-ups! Since joining the European Union in 2004, the island has become far more attractive location to trade for residents and non-residents alike. Despite the 2012 Eurozone banking crisis, the economy is now back on an even keel and is now flourishing thanks in part to a boom in tourism. The Cyprus Chamber of Commerce, with 8,000 members, is keen to support local business and would be a good place to start if you want to get to know fellow local entrepreneurs. Local districts are located in: Nicosia (Greek and English), Limassol, Larnaca, Paphos, and Famagusta. Now is great time to consider setting up a new business or maybe even taking over one that already exists. Either way, can we suggest that you make the most of the help that is available. Start Your Own Business contains information and advice but, unlike other start-up sites, it also contains details of LOCAL organisations who can help you. The firms listed on each page have declared themselves to be 'new business friendly' and will welcome your enquiries. Source: Ministry of Commerce &Energy.

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