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Cyprus Considered Lucrative Destination Investment

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The Cyprus Investors' Summit is being held in Limassol, where Cyprus Investment Promotion Agency President Christodoulos Agastiniotis discussed the nation's lucrative position as an investment destination.

Agastiniotis stated at the conference, "It is certainly not a secret that Cyprus has one of the most attractive and efficient tax systems within Europe, which offers among other incentives tax exemption from Dividend Income and no withholding tax on Interest & Royalties paid from Cyprus. Cyprus tax resident companies benefit from an extensive double taxation treaty network, which has currently 52 agreements in place," as reported by Parikiaki.

The island's natural attributes were also discussed including its weather, setting, and culture, along with its shipping and hydrocarbon sectors. The Cypriot Investment Promotion Agency President added, "I strongly believe that our most valuable asset is our human capital. Our professionals have helped develop Cyprus over the years into a quality business centre and play a vital role in the success of our service driven economy."

Agastiniotis discussed the nation's position in the global arena, "With the new EU regulatory framework that is changing the global funds industry, Cyprus is emerging as an attractive investment fund jurisdiction, providing solutions for the establishment of private and public investment funds. Through transposing into law the two new EU directives, Cyprus offers a European passport to the fund management industry and outstanding possibilities for cross-border and global fund distribution."