Cyprus: A Popular Jurisdiction for eGaming Companies
Cyprus boasts a well-established and advantageous tax system, making it a preferred jurisdiction for setting up service companies. Businesses must adhere to the relevant regulations and requirements in both Cyprus and the respective jurisdiction, including obtaining any necessary licenses and permits.
Several factors make Cyprus an appealing choice for eGaming companies:
- Attractive Tax Regime: Cyprus has a highly competitive tax system for eGaming companies, featuring a corporate tax rate of only 12.5%. This rate is significantly lower than many other European nations, making Cyprus a prime location for businesses aiming to reduce their tax liabilities.
- EU Membership: As an EU member, Cyprus provides eGaming companies with access to the EU single market, enabling them to operate across borders within the EU. This is especially advantageous for companies seeking to broaden their European operations.
- Skilled Workforce: Cyprus is home to a well-educated and proficient workforce, particularly in the IT and finance sectors. This makes the country an ideal location for eGaming companies requiring a highly skilled workforce to develop and maintain their products.
- Strategic Location: Cyprus, positioned at the intersection of Europe, Asia, and Africa, is the perfect location for companies aiming to operate in multiple markets. Its strategic location also allows for easy access to major financial centres and transport hubs.
- Modern Infrastructure: Cyprus offers modern and well-developed infrastructure, including high-speed internet, a reliable power supply, and excellent telecommunications networks. This makes the country an attractive location for eGaming companies that need high-quality infrastructure to support their operations.
In summary, the combination of a favourable tax regime, EU membership, a skilled workforce, strategic location, and modern infrastructure makes Cyprus an ideal location for eGaming companies seeking to establish a European presence.
A typical Cypriot service company can engage with payment service providers that require an EU-based company, EU consultants/employees, or marketing services.
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