Permit holders may own a business in Cyprus and benefit from a low corporation tax of 12.5% on net profits by setting up a Cyprus company. Additionally, they can use their Cyprus Company as an intermediary for export trading activities from their home country to enjoy tax benefits. Cyprus is firmly established as a reputable international commerce centre, the ideal bridge between East and West. It offers a tax efficient gateway for channelling foreign investments anywhere in the world. The Cyprus tax system is in full compliance with EU and OECD requirements. It provides a unique combination of favourable participation exemption provisions on income emanating from international activities, applies a wide network of double tax treaties, and zero withholding taxes on any type of payments made anywhere in the world. By invoicing all exports through a Cyprus company and accumulating most profits in Cyprus, permit holders may take advantage of the 12.5% corporation tax and benefit from the 0% tax on dividends offered to non-tax residents. Anyone spending less than 183 days in Cyprus is considered non tax resident and will not pay tax on their worldwide income, only on income derived from Cyprus, excluding dividends.