Cyprus - A Place For International Investors In the last decade the role of Cyprus in international tax planning has increased dramatically for a number of reasons. A strong currency, highly literate workforce, a large expatriate community and the fall of communism and opening up of Eastern Europe have all contributed to the elevation of Cyprus from a holiday destination in the sun to a leading player in the offshore world. Cyprus today is firmly established as a reputable international business financial and commercial center. The offshore and shipping companies established and operating from Cyprus run into thousands. However it is not simply the benefits open to companies, which are attractive. Unlike many offshore centers Cyprus has made an effort to attract legitimate companies to its shores and to open up bona fide offices rather than the ubiquitous brass plate company which no longer stands up to fierce scrutiny imposed by many of the world's tax authorities. This paper explains the main advantages accruing to international investors (especially for Russian Investors) for establishing and operating an offshore entity in Cyprus. Investors contemplating to set up a Cyprus offshore entity for doing business anywhere in the world are advised to obtain detailed professional advice (you can contact us at any time) as this paper is not intended to be comprehensive. My associates and I will be happy to assist you and give you any further information you may require. Photis P. Photiou Advocate
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