AI Hub 16 April 2023 What is the rationale for the proliferation of forex brokers in Cyprus? The proliferation of Forex brokers in Cyprus is an interesting phenomenon that has been growing over the past few years. This growth is due to a combination of factors, including the country’s advantageous tax regime, its membership in the European Union (EU), and its strong financial infrastructure. Cyprus’ Tax Regime One of the main reasons for the proliferation of Forex brokers in Cyprus is its advantageous tax regime. The country has one of the lowest corporate tax rates in Europe at 12.5%. This makes it an attractive destination for international businesses looking to establish a presence in Europe while minimizing their tax burden. Additionally, Cyprus has a network of double taxation treaties with more than 40 countries, which further reduces taxes on foreign-sourced income. Cyprus’ Membership in the EU Another...
