Cyprus Emerges as a Top Destination for Indian Businesses: Leptos Report

National, February 27, 2024: Cyprus is one of the top destinations for Indian businesses looking to set up their corporate headquarters, according to Leptos Estates the country offers favourable tax policies, a strategic geographic location, and a well-established legal framework for companies.

Cyprus provides attractive options for Indian businesses and individuals for relocation and headquartering. The island boasts a wide range of services that facilitate ease of business, with low setup and running costs. The business landscape and economic model of the island offers a variety of industries to engage with, including Banking & Financial Services, Investment Funds, Shipping, Tourism, Health & Wellness Tourism, Real Estate, Start-Ups & Innovation, and Energy.

Over and beyond the business opportunities, Cyprus offers a high quality of life, with a pleasant climate, cultural richness, and a diverse expatriate community. The island is known for providing high quality education in both public and private schools, English is widely spoken, facilitating communication for international businesses and also has an excellent legal system, low taxes, and low cost of living, utilities and services. Overall, these factors make Cyprus a very attractive destination for both businesses and Digital Nomads.

Speaking of the trend, Pantelis Leptos, Co-President, Leptos Group of Companies, said “Cyprus has always been a very welcoming host for all. For enterprises, the country has even gone so far as to set up a Business Facilitation Unit. The unit has a number of provisions for the establishment of corporate entities in Cyprus, such as registration, guidance for establishing new businesses and the facilitation of residence and work permits. All this and more wait for those looking at Cyprus as a destination for their business.”

The incentives in Cyprus, including a competitive corporate tax rate, make it an attractive choice for investors seeking to diversify their investments while optimising their financial gains. Tax exemption of 50% for foreign employees receiving annual salary in Cyprus that exceeds €55.000. The period for which the tax exemption will apply will be 17 years. The Leptos Group prides itself on acquiring exclusive land in Cyprus and Greece, using strategic locations to develop prestigious residential and holiday developments, luxury hotels, holiday resorts and commercial developments. The Group also offers in-house services and specialised associates, to assist with the procedures for getting all the necessary permits for the establishment and operation of any business, opening of bank accounts, and work permits.