| A Snapshot of Cyprus’ Performance in 2024
As we reflect on 2024, Cyprus has shown strong resilience and growth, reinforcing its reputation as a stable and attractive business hub. Moody’s upgrade highlights the country’s improved fiscal standing, while a reduced public debt and solid banking system ensure continued economic stability. With its favorable tax environment and strategic access to European, Middle Eastern, and African markets, Cyprus remains an optimal location for international business.
Planning for Success in 2025: A Must for Every Business
To ensure smooth operations and growth in 2025, early financial and operational planning is crucial. Here’s how businesses can leverage Cyprus’ advantages for a strong start:
1. Non-dom status and Tax efficiency
Cyprus’ 12.5% corporate tax and tax-free dividend policy for both companies and their Non-Dom owners on their worldwide dividend income,provide a strong foundation for businesses. Early tax planning and assessing the benefits of relocation ensures businesses can fully benefit from these tax advantages, helping maximize profitability while staying compliant with local regulations.
2. Payroll & Employee Benefits
With Cyprus’ competitive 50% tax-free employment allowance, relocation of highly-paid employees is beneficial for all parties involved. Ensure your payroll system is updated for the year ahead. Early review ensures compliance with local labor laws and smooth operations throughout the year.
3. Financial Forecasting
With Cyprus’ thriving business ecosystem, proper budgeting and forecasting are key. By assessing your company’s financial needs early, you can take advantage of Cyprus’ favorable conditions to ensure cash flow and resource allocation are optimized.
4. Regulatory Compliance
Cyprus maintains a business-friendly regulatory framework, but staying ahead of updates is vital. Early preparation helps businesses comply with local laws and regulations, minimizing risks while maximizing opportunities.
5. Risk Management & Corporate Governance
Cyprus offers a stable governance environment, making it essential for companies to implement robust risk management strategies. Early attention to corporate governance ensures sustainability and long-term growth in line with local and international standards.
Starting the year with these key steps will put your business on the path to success in 2025. At Aqualis, we are here to support your company in navigating Cyprus’ dynamic business landscape and achieving your financial goals.
Get in touch with us today to see how Aqualis can help you implement these strategies and ensure a successful year ahead.
Constantinos Tsiaklides,
Managing Director, Aqualis |
