People want a better future, a better economy, they want to be happier, wealthier and they want better education for their children. Whether you are a business person interested in the sustainability of your business growth, a money manager, a parent considering a better future for your children, or someone looking for the best retirement investment, they all share this in common.
For this to happen though, certain changes must be made in people’s lives to enable them to invest in a better tomorrow. There is always the fear of leaving our comfort zone and stepping into the unknown. It means taking a risk, realized risk leads to growth.
When that change is to invest in another country, you will want to have the protection for your family and business. When investing in a country like Cyprus, you know your rights are protected.
Cyprus is a member of the European Union and the Eurozone. The country provides an established, transparent and solid legislative framework in which foreign investment is protected. The country ranks 53rd out of 190 economies in the World Bank’s 2018 Doing Business Report. Cyprus is on the OECD 'white list' of Tax Jurisdictions which have substantially implemented the internationally agreed standard in tax transparency and is fully compliant with the Basic Freedoms and State Aid rules of the EC Treaty. The tax system in Cyprus is simple and there are no discriminatory rules or preferential treatment of tax payers.
Country comparison for the protection of Investors
Source: Doing Business, 2018
The Cypriot constitutional law, the EU Law, international laws, the bilateral and multilateral investment treaties, the investment contracts, and domestic investment legislation, are all legal mechanisms comprising the framework under which foreign direct investment in Cyprus is protected.
The constitutional protection allows foreign investors to enjoy the same rights as the local investors. It guarantees equality between all persons and eliminates discrimination for different nationalities. One of the fundamental rights that a foreign investor has, is the right to own property. This right is protected by Article 23 and the foreign investor is eligible to seek legal remedies in the Cyprus court in case of any violation of this right.
Cyprus is a party of Bilateral investment treaties with India, China, Egypt, Iran, Israel, Jordan, Montenegro, Qatar, Serbia, Seychelles, Armenia, Belarus and Lebanon. The purpose of the international investment law is to protect the investors tangible or intangible assets on transfers from one country to another to create wealth from their use in that country.
Furthermore, the Energy Charter Treaty protects the investor and their investments from a broad range of political risk, discrimination, expropriation, nationalization, breach of contract and damages due to war.
In Cyprus, no restrictions apply to the movement of capital, profits and dividends. There is no exchange control legislation. The country managed to create an attractive environment for investors through modernising legislation, promoting development projects, diversifying tourism, introducing tax incentives and speeding up licencing procedures. As a diverse investment company, having the knowledge about the laws and regulations we can ensure your success and manage risk on your investment.
“Risk is a payment for a chance to reach our aspirations” Meir Statman.Share Share Share