A little isle in the Mediterranean Sea has suddenly became one of the most important global financial hubs. Few decades ago no one could predict such a huge success: Cyprus is a home for 200 investment firms. They stay here despite strict financial control of the regulators and have survived the financial crisis. Let’s find out what keeps them here and how Cyprus became the Forex Capital of the World.
Strict control
Some might see it as a downside but actually it’s a pretty positive thing allowing to conduct business effectively and transparently. As well we can’t forget about customer’s trust: they’d rather invest in a country, where the chances to lose the funds are low. CySEC (Cyprus Securities and Exchange Commission) became a quality brand that attracts companies from all over the world, willing to relocate to this small island.
Taxes are low
Ok, they have CySEC, but a smart reader will guess that it’s not enough. What truly attracts the business? Yes, you are so right, its low taxes. Cyprus financial experts have done a great job: the corporate tax is as low as %12.5 and it’s extremely attractive for investment firms. The corporate tax is the lowest (alongside with Bulgaria) in European Union. What does it give to traders? Obviously more beneficial trading conditions and high pay out to introducers and affiliates. That’s exactly what we do at Orbex, the combination of low spread, low or zero commission and fast execution will definitely have a good impact on profitability.
Lots of Forex specialists
Do you think it is easy to find high class compliance officer? Or maybe trading platform IT specialist? We will confess, it’s not, but not in Cyprus. Cyprus is a homeland for forex industry, so basically any company can find skilled professional. At Orbex, we always hire the best, we are a team of 45 people with a combined experience of than 110 years
Easy to establish business contacts
Cyprus has a great business atmosphere, lots of international companies have settled down here and that allows to establish any business contact with ease. Need an auditor or supplier – simply arrange a meeting in the nearest coffee shop. Compare that to calling to another country and fixing the business trips.
Developed consulting industry
Starting brokerage business in Cyprus was made effortless with lots of companies specialising in consulting. Business can get support for practically any issue, starting from preparing the reports for government bodies and ending with finding the staff. By the way, Orbex can provide your business with everything, we offer complete turnkey solutions for brokerage. We can help your company develop a strong professional network and simplify all operational aspects.
Well, if all that didn’t explain to you how Cyprus became the Forex capital, let us add that island has 326 sunny days a year.
