The island of Cyprus is presently a gold mine for investors. While it’s true that Cyprus is quite beautiful to enjoy a long vacation, this is also the best time to invest and start an e-commerce business. The nation was severely hit by a banking crisis in 2013 and has now emerged as a tax haven for entrepreneurs. So, if you are an entrepreneur planning to start a business, you may already know the eCommerce tax benefits in Cyprus.
After all, Cyprus offers one of the lowest tax rates!
You also don’t have to bother about the double tax as it has already signed treaties with over 40 countries worldwide. You have to get a citizenship or permanent residency (PR) permit and then make Cyprus the base of your e-commerce business. So there’s no need to worry about getting a local Cypriot partner, because this is not a requirement here.
Top 5 Benefits of Starting an eCommerce Business in Cyprus
Strategic Geo Location:
Cyprus is between Africa, Middle-East (Asia), and Europe. Thus, it emerges as an ideal location to promote your e-commerce business and expand it swiftly into new markets to serve a vast customer base. Do not forget that more than 85% of European people are well-versed with the internet, and about 60% of these people prefer to shop online.
Highly Developed Country:
The country has excellent infrastructure in terms of transport, internet connectivity, and healthcare facilities. Remember, the nation also boasts of two international airports- Larnaca International Airport and Paphos International Airport. It also has multiple ports for easy transport of cargo and passengers.
Highly Educated People:
There is no shortage of local skilled workforce in Cyprus. More than 40 % of the local population aged between 25 to 64 years has completed post-secondary education, which is higher than the European average!
No Barrier of Language:
Although Cyprus has Greek as its official languages, there is no language barrier. You don’t have to communicate with your employees, customers, or stakeholders in Greek. The country was a British colony for more than 80 years, thus meaning a significant number of Cypriots can read, write and speak English almost fluently.
Safe for Entrepreneurs:
In Cyprus, you can remain assured about the safety of your intellectual property (IP) in a cutthroat competitive landscape of e-commerce. Moreover, the process of registering a trademark is easy and fast. Being a member of the European Union (EU), your IP remains protected under the strictest laws while adhering to the standards of WIPO and EUIPO.
How can Online Solutions Help You?
Cyprus also has a remarkably stable government that is pro-business and takes concrete steps to attract investors. So, if you have a brilliant product or a bunch of services that you want to sell over the web, make the most of the advantages offered by Cyprus.
Here, Online Solutions comes into the picture. We offer eCommerce web development services and facilitate customers to build their digital brand, communicate effectively with their consumers, and generate quality leads to high-performing and feature-rich websites.
Today, Cyprus is an attractive investment destination for not only locals but also people of other nationalities. So, grab this opportunity of eCommerce tax benefits Cyprus today.
Call our experts to find out how we can help you to develop your brand and online presence.