Cyprus-Forum.com

[mh123]

Hello
There are a lot of people advising us to open up a business (maybe even offshore maybe as a branch of an existing UK company) in Cyprus because of the good tax situation for companies there.
There is a lot of info on the internet advising us of many advantages. Are
there any particulare disadvantages or dangers that we have to look out for ?
mh123

[Oracle]

Dangers? ... Yes!

You will fall in love with life and want to spend all your time on the beach


..... goodbye business!

[Raymanoff]

by the way, what happened with EU 30% corporate tax... they are pressing on Cyprus to implement it. Will it happen? If yes, Cyprus will commit suicide...

[DT.]

by the way, what happened with EU 30% corporate tax... they are pressing on Cyprus to implement it. Will it happen? If yes, Cyprus will commit suicide...

It will not. PResident Christofias and the Finance Minister Stavrakis have stressed that the 10% will remain during their presidency.

[Raymanoff]

at least something good came out of it for starters...

[Feisty]

I would imagine mh123 that the main disadvantage will be if you set up in competition with a Cypriot in which case you will soon find out.

[Raymanoff]

pipebombs went up in price... costs nearly 1000 euros these days. So many people prefer arson which costs as low as 400eur vat inclusive.

[Oracle]

pipebombs went up in price... costs nearly 1000 euros these days. So many people prefer arson which costs as low as 400eur vat inclusive.

.... but petrol is getting more expensive!


Where's that magnifying glass

[Raymanoff]

Oracle, they use BBQ lighter gel or fluids... it ignites slowly which gives them time to run away. The bottle is only 2Euros, they make about 20000% profit... so its a good business. (tax free for now)

[Tim Drayton]

Cyprus in my experience is a business friendly place. There is little bureaucracy and dealings with official bodies are very straightforward.
As other people have suggested, if you tread on the wrong toes and try to compete with well-established local businesses, you might be in for a rough ride. If, however, like me you are using Cyprus as a basis for accessing the global market, you will attract no hostility from local vested interests.