Cyprus has double tax treaties with more than 50 countries. During 2014 Cyprus has signed double tax treaties with Switzerland and Guernsey.
Moreover, a new agreement has been signed between Cyprus and Norway designed to renew and improve the previous agreement between the 2 countries.
On the 13th of November 2014 Cyprus and Iceland have signed a double tax treaty based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital. The official statement of the Ministry of Finance in Cyprus stated that: ‘Updating, maintaining existing and signing new double taxation treaties is part of the drive to enhance and attract foreign investments, as well as of promoting Cyprus as an international business center.’