Cyprus entering EU Sample Clauses

Cyprus entering EU. The process of harmonization with the EU in the run-up to accession has transformed the economy of the government-controlled area, making it more open, liberal, and competitive. Among the many reforms which have already taken place are the following: liberalization of trade and interest rates, abolition of investment restrictions for EU residents and liberalization of the general investment regime for all non-EU investors, abolition of price controls, introduction of private financing for the construction and operation of infrastructure projects, and liberalization of utilities (xxx.xxxxxxxxxxxxxx.xxx.xx). The gradual liberalization of foreign direct investment regulations has made Cyprus progressively a more attractive destination for foreign investors in recent years. A low level of taxation is one of Cyprus’s major advantages. At 10%, Cyprus’s corporate tax rate is currently the lowest among EU’s 27 countries. Cyprus’s other tax advantages include:
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