International Business Companies are the remnants of Cyprus ' offshore days. Various international clients choose Cyprus as a base for their financial operations, due to its beneficial conditions. Such conditions include the lowest corporate tax rate in the European Union of 10%, (0% for shipping companies with Cyprus registered ships, and 4.25% for shipping management),the minimum EU permissible V.A.T. rate of 15%, as well as a realistic approach by the local authorities. Businesses choose Cyprus , due to its reputation as a stable, safe and welcoming environment for financial services. The country is a member of the European Union, Eurozone, and is the least affected country by the ongoing Global Financial Crisis. Financial Services (Cyprus Accountants) and Banking make up an elemental part of the economy.

This means that today in Cyprus there is a competitive Market filled with accountants, who are experienced in dealing with all the possible tasks an International Business Company may need.