Sergey Kartashov expresses his views on Cyprus as a European IT hub
Sergey Kartashov(SergejsKartasovs), the CEO of Generation Partners LTD, gave his opinion on Cyprus as a European IT capital in the future. Generation Partners is an asset management company based in Cyprus. According to Sergey Kartashov, many companies have relocated from Europe and post-Soviet states to Cyprus in the last few years.
The CEO of Generation Partners explains the reasons behind the attraction of the island for relocating IT businesses. In terms of registering and maintaining a business in Europe, Cyprus is one of the best jurisdictions in the region. There are three main factors in this regard including a simple registration system, a simplified reporting system, and a flexible taxation system. The income tax rate in Cyprus is just 12.5% while the value-added tax (VAT) is just 19%. There is no VAT for products that are purchased by non-EU residents.
Sergey Kartashov noted, “Cyprus is one of the few countries that have …
