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Double Tax Treaties in Cyprus

Updated on Wednesday 27th April 2016

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Investments in Cyprus

Cyprus has a diverse and prosperous economy and many foreign investors are willing to invest here because of the low tax rates. Cyprus’s economy is mainly based on tourism, import and export activities or financial services. Another particularity that makes Cyprus attractive to foreign investors is its geographical position: European and Middle East markets can be accessed from the island-state.  

 
In order to avoid double taxation for business entities established in Cyprus, the country has signed almost 50 double tax treaties with numerous countries. This was done so that foreign individuals or companies performing various business activities in Cyprus would only be taxed once if the respective income is taxable both in Cyprus and in their country of origin.

Double tax treaties between Cyprus and other counties

Most of the double tax treaties which are currently in force in Cyprus are concluded following the OECD Model (The Organization for Economic Cooperation and Development). 
 
Some of the countries that have signed double tax treaties with Cyprus are: Azerbaijan, Armenia, Austria, Belarus, Belgium, Bulgaria, Canada, china, Czech republic, Denmark, Egypt, Estonia, Finland, Germany, France, Greece, Hungary, India, Ireland, Italy,  Malta, Mauritius, Poland, Portugal, Romania, Russia, Singapore, Spain, Sweden, Syria, Thailand, the United Kingdom, the United States of America.
 
In addition to the double tax treaties, Cyprus has concluded tax-sparing provisions with countries such as Canada, Denmark, Germany, Greece, Yugoslavia and others. If you need more information about the special provisions for tax-sparing, our company formation experts in Cyprus are ready to give you all the necessary details.
 
Our company registration experts in Cyprus can help you with more information about the double tax treaties and if they are applicable for your business.

Taxes in Cyprus

Legal entities in Cyprus are required by law to pay certain taxes. In Cyprus, the corporate tax has a value of 12, 5% and the Value Added Tax has a standard value of 19% and 9% for some goods and services.
 
Our company incorporation consultants in Cyprus can help you with more information about tax compliance in Cyprus. If you want to open a company in Cyprus, please contact our team for a personalized offer.
 
 

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