Cyprus is a full member of the European Union and the Eurozone with national currency Euro, same as Greece. Cyprus is a center of business and banking institutions, as well as an international center providing services to Europe, America, Arab and Far East countries.
Company's tax is 12.5% and all legal forms of companies are available, although, frequently preferred is the LIMITED CO., due to limited responsibility of the partners.
The company can be established within 20 days, it is required the Director to be a Cypriot citizen, thus, increasing the operating cost in comparison with companies established in Bulgaria or Romania, for example, due to the Director's salary and insurance contributions.
Company's seat can be the office of its lawyers or accountants. Collaboration with accounting company is essential for the follow-up of the business activities. Great advantage for the establishment of a company in Cyprus is the Greek language and both with the English, any negotiations can be held with Administration institutions, banks, lawyers, accountants, etc.