Every year, Cyprus attracts many expats looking to start their venture. The reasons for that are many: from the fact that the process of establishing a company is relatively simple, to the fact that corporate tax in Cyprus is one of the lowest in all of EU, Cyprus has a pro-business approach that benefits new business owners. If you are one of them, however, you should be aware that the process of starting your own business on the island may take more or less time, based on whether or not you are an EU/EFTA/UK national.