Cyprus: a paradise for FX companies

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Cyprus: a paradise for FX companiesCyprus is becoming a popular destination for FX companies. Industry leading companies like FXPro and IronFX are well-established in Cyprus. This is due to the fact that the EU is applying a concept of ‘EU Passport ‘ allowing FX licenced companies in Cyprus to operate freely within the EU, a straightforward procedure of obtaining a FX license in Cyprus and very favourable Cyprus tax system with low corporate tax rates of 12.5% and no tax on income from trading in securities.