While Cyprus tax system has been reformed to comply with the EU Acquis Communautaire, the appropriate actions have taken place to maintain Cyprus’s competitiveness as an international business centre and enhance its attractiveness as a suitable jurisdiction for holding companies.
Cyprus has developed a wide network of Double Tax agreements with 44 countries; ensuring that the same income is not taxed in more than one country. Moreover, Cyprus is in the stage of negotiating the conclusion or awaiting ratification of Double Taxation Agreements with several other countries.
Shipping Companies Cyprus is considered as one of the most competitive shipping centres in the world in terms of registration fees and taxes. No tax is imposed on profits from the operation of Cypriot registered vessels, or on dividends received from a ship-owning company.Learn More