CYPRUS IN BRIEF

YURASSIA ESTATES LTD, Cyprus

Cyprus in brief

Home		Geography: Cyprus is the third larger Mediterranean island, with a total area of 9,251 sq. Km. Cyprus's geographical position - a stepping-stone to three continents ( Europe, Asia and Africa ) - is ideal as a center for international business. Climate: The island enjoys four seasons, with dry summers and mild winters. Average temperatures range from 13 C in winter to 36 C in the summer.Population: The today estimated population of Cyprus is approximately 700,000. Economy:The economy of Cyprus is based on free enterprise, with most economic activity taking place in the private sector . The service sector which dominates the Cypriot economy, accounts for about half of the employment and almost 2/3 of its GDP.Government : Cyprus is a Presidential Democracy. International Relations: Cyprus is a member of the United Nations and the Council of Europe as well as member of the British Commonwealth. In 2004 Cyprus formally will become a member of the European Union.
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Ekali villa for rent or sale
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CYPRUS as a place of living: Very pleasant climate. Low cost of living – high standard and quality of life. Cyprus is a tourism island which provides beautiful places to visit, has an excellent cuisine and above all you can enjoy all that in a safe environment.Cypriots are famous for their hospitality and since most of them speak English they will be more than happy to provide any help that you might need.

CYPRUS as a place of doing business:

· Member of the United Nations, the Commonwealth and the Council of Europe. In 2004 Cyprus formally will become a member of the European Union.

· Democratic country with a free market economy.

· Strategic location at the crossroads of three continents.

· Modern and efficient legal, accounting and banking services based on English practices.

· Treaties for the Avoidance of Double Taxation with 26 countries.

· No tax on profits from the operation of a Cypriot registered vessel
or on dividends received from a ship owning company.

· No capital gains tax on the sale or transfer of a Cypriot registered vessel
or the shares of a shipowning company.

· No estate duty on the inheritance of shares in a shipowning company.

· No income tax on the emoluments of officers and crew.

· No stamp duty on ship mortgage deeds or other security documents.

· Signatory to numerous maritime conventions.

· Party to an extensive network of bilateral maritime agreements.

· Competitive ship registration costs and annual tonnage taxes.

· Full protection for financiers and mortgagees.

· Favourable tax regime for shipmanagement and other offshore enterprises.

· Low set-up and operating costs.

· Excellent telecommunications and easy access by air and sea.

· Availability of highly qualified managerial, clerical and technical staff.