Business forum forges UAE-Cyprus links

27/01/2009 - Dubai Investment News
Business forum forges UAE-Cyprus links

A new business forum has been held to strengthen investment, trade and tourism links between the UAE and Cyprus.

Organised by the Sharjah Chamber of Commerce and Industry (SCCI) in conjunction with counterpart Cypriot authorities, the event invited delegates to discuss opportunities opened up by new trade rules in Cyprus.

Under new legislation foreign firms can take up 100 per cent equity in a domestic venture and do not require minimum levels of capital investment.

So too, favourable taxation laws ensure that profits for overseas firms are maximised.

Ahmad Mohammad Al Midfaa, SCCI chairman, commented: "The significant gains the country has made in domestic economic and regulatory infrastructure, banking and international finance in particular make it an essential part of the UAE's foreign trade agenda."

The SCCI has also recently forged a new partnership with the World Business Council for Sustainable Development for the furtherance of responsible global trade relations.