Innovation laundry

How Cyprus can be used as a tool of cooperation and business in the Middle East

During this era of uncertainty and instability Cyprus has the potentials and the possibilities to become a business centre for the Middle East. In other words, Cyprus can be a safe destination and a secure home for all the companies and the entrepreneurs who wish to have a second basis within the region.

The culture of cooperation and security, the excellent Mediterranean climate and the political stability are only a few of the advantages Cyprus offers. But the most attractive element Cyprus can offer today to any company involved in innovative products and services, technology and startups, is the tax regime of intellectual property rights.

IP Box, the tax provisions of intellectual property rights in Cyprus, among others provides 80% tax exemptions on worldwide royalty income and/or on profit generated from IP owned by Cypriot resident companies. The advantage of Cyprus as a business centre is reconfirmed not only because of the introduction of the IP Box, but also because of the attractive 12,5% Cyprus company tax rate and the extensive network of double tax treaties ratified by Cyprus.

In addition to the above, Cyprus is a member state of the EU and has a long commercial and political cooperation history with all the countries of the Middle East. Consequently, Cyprus has another big advantage that can be used today: as a friendly country both of Arabs and Israel Cyprus can be used as an “innovation laundry” for a number of companies of the region who cannot cooperate, commerce or work directly due to political conflicts.

Many companies of the region can choose Cyprus as their basis in order to be able to start making business with countries and people whom they used to avoid due to the recent political situation.

Τechnology, innovation and commerce can be a tool of peace and stability. And it is evident that Cyprus is the ideal bridge!

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