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Presentation of a Cyprus company formation:

cyprus3

Cyprus Company: 10% Corporate Tax

Situated in the north-eastern end of the Mediterranean Sea, Cyprus is effectively a crossroads linking Europe, Asia and Africa. The main economic activities of Cyprus are financial and banking services, as well as the shipping, due to the strategically important location between Europe, Asia and Africa. During the last fifteen years, the economy of Cyprus has shown impressive growth. That is the reason why so many investors consider Cyprus Offshore Company formation. The Government’s role is limited to regulation, planning and the provision of public utilities. Cyprus has the lowest corporate tax rate in Europe, the net chargeable profits of Cyprus IBC Companies are taxed at a rate of 10%, in the same time having several tax exemptions.

Cyprus Offshore Company will be interesting for:

  • Entrepreneur,
  • Consultants,
  • Holding Company,
  • International trade,
  • Commerce on the Internet,
  • Stockbrokers,
  • For the protection of movable and immovable property
  • For inheritance purposes,
  • Intellectual property holding rights.

How to proceed? Provision of the following documents for incorporation of the company:

  • An application form completed and signed company.
  • A copy of valid passport for each party to the transaction.
  • A personal bill less than three months.
  • Payment of our fees.

Note: additional documents may be requested depending on the chosen offshore bank.

Set-up time: From the moment we are in possession of all required documents:

  • Incorporation of the company: 5 days. Approximately 15 days for delivery of original company documents.
  • Offshore Bank: offshore bank account opening in about three weeks.

Benefits of Cyprus company formation:

Advantages:

  •  Well known professional infrastructure.
  • Company Law based on UK Common Low.
  • Well established network of double Taxation Treaties available for use by all Cyprus Companies which are managed and controlled from Cyprus.
  • Strategically important location for trading in Europe, Asia and Africa.
  • Appropriate jurisdiction for Holding companies.

Disadvantages:

  • Documentation submitted to the Companies Registry must be in Greek.

The main characteristics of Cyprus offshore company:

General
Type of entity

Private (IBC*)

Type of law

Common

Shelf company availability

Yes

Our time to establish a new company

5 days

Corporate Taxation

10%

Double taxation treaty access

Yes

Share Capital or Equivalent
Standard currency

Euro

Permitted currencies

Any

Minimum paid up

1.000 Euros

Usual authorised

5.000 Euros

Directors or Managers
Minimum number

One

Local required

No, but advisable for purposes of tax residency

Publicly accessible records

Yes

Location of meetings

Anywhere, but Cyprus advisable for purposes of tax residency

Members
Minimum number

One

Publicly accessible records

Yes

Location of meetings

Anywhere

Company Secretary
Required

Yes

Local or qualified

No, but Cyprus advisable for residency and compliance

Accounts
Requirement to prepare

Yes

Audit requirements

Yes

Local Auditor

Yes

Requirement to file accounts

Yes

Publicly accessible accounts

No

Other
Requirement to file annual return

Yes

Change in domicile permitted

No

*When wholly foreign-owned, a private company is referred to as an International Business Company.

To order your Cyprus company please contact our specialist!

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