The Republic of Cyprus joined the European Union on May 1st, 2004 and joined the Eurozone on January 1st, 2008.
Cyprus subsequently became a member of other international organizations, including the Organization for Security and Cooperation in Europe, and the World Bank.
Not only does Cyprus have the lowest and most favorable tax rates in Europe, it also has many tax exemptions for non-residents. Non-residents are only liable to pay taxes in Cyprus for income generated in the country. Moreover, there is no withholding tax on interest income derived in Cyprus or dividends earned in the country. Cyprus has signed a Double taxation treaty with 43 countries to ensure that taxable income derived in Cyprus is credited from the country of tax residence of the individual.
Cypriot second passport and citizenship program is the only European citizenship program that could grant you and your family a second passport in 6 months. It is also one of the world’s most reputable and well-established Citizenship by Investment Program.