Cyprus is now a gold mine with a Midas touch. This is probably, the best time to be in Cyprus, not just to vacay, but to invest and settle down as well. Talking of investment and settling down, yes, Cyprus allows entrepreneurs to start their business and settle down here. The e-commerce business in Cyprus is definitely worth investing and there are several reasons for you too. Let us check out how this e-commerce business can be worthwhile to you and for Cyprus.
• Start with Less and Get Great ROI
One of the key reasons for the people to start an e-commerce business is, it does not require a big investment in the office property. Secondly, you will need to have the staff and third party vendors in hand to handle the delivery seamlessly.
• Make Use of the Internet-driven Population
With a great majority of the population using the Internet from their mobile phones, e-commerce thrives. You will be able to reach out to thousands and millions of buyers for your business with ease. Cyprus has one of the highest Internet using population in the world. Additionally, if you can do this in association with Cyprus-based firm, the result will surely be a win-win for all.
• Cyprus with Friendly Laws
Cyprus definitely has plans for tax saving for the entrepreneurs based in the country. Non-nationals can also come to Cyprus with their E-commerce plans and do it from here. Entrepreneurs will need to register with Cyprus VAT authorities. In order to avail tax benefits, the e-commerce business in Cyprus must be based in Cyprus. The entrepreneur must have a citizenship or PR permit. With this, he can proceed to set up the business. Cypriot government seeks for 10% of the taxes for the business.
• Government Support
Last decade saw a low in the Cypriot economy. During this time, the average Cypriot chose to start e-commerce and dropship businesses. There has been no looking back since the revenue these online businesses have generated is vast. It is for this same reason the Office of the Commissioner of Electronic Communications and Postal Regulations has been promoting the business vehemently.
Besides regular shopping sites, there are e-commerce sites based in Cypriot offering banking and financial products and more to EU country members. The potential e-commerce sites have today surely seeing a growth.