BENEFIT FROM LOW CORPORATE TAX RATES

Company Formation and Residency in Cyprus

You can open a bank account in Cyprus by setting up a company at minimal cost, ensuring that it complies with local laws. Cyprus company formation involves certain procedures and commitments prior to the registration of the company, such as the drafting of the Memorandum of Understanding and Agreement for the company, which is a document that outlines the rights and obligations of the shareholders. We provide legal and tax advice on restructuring to make your business compliant, and we offer content creation services both in the countries where we have offices and in other countries. To maintain the status of an offshore company in Cyprus, the undertaking must engage in commercial activities and shareholders' meetings must be held outside its jurisdiction.

Establishment of a Company in Cyprus

Cyprus is one of the most suitable countries for setting up a company or doing business. It is the door of the global common Sunday with favorable tax policies, economic and other foreign investment laws.

Protect more profits: Cyprus has one of the lowest tax rates, with only 12.5% of the corporate tax levied on net profits and no other taxation on dividends.

Tax – Free Sale of Shares: An ideal corporate vehicle for a holding company.

A solid foundation: Cyprus offers excellent infrastructure, telecommunications, office space and health services.

Excellent location: Located at the meeting point of three continents and having full EU membership, Cyprus is an ideal center for international trade.

Advantages of Offshore Company Registration in Cyprus

Cyprus has signed an agreement on double taxation with 60 countries. In Cyprus, the financial statements are presented in accordance with international standards. Cyprus has one of the lowest corporate tax rates in Europe. Taxes are not levied on international/foreign dividends, capital gains, income from sales of securities. The simplicity of the registration procedure and the low cost of maintaining the company. A person who is not a resident of Cyprus is not subject to tax. The possibility of using nominal services.

Documents Required for Company Registration in Cyprus

English Greek certificate of incorporation; Founder’s certificate; Secretary’s certificate; Shareholder’s certificate; Registered Address certificate; Shareholders’ passport copies (must be notarized) Hardcover copies of the founding documents apostille Memorandum of Understanding and Articles of Association of the Company (must be notarized).

Taxes in Cyprus

The Cyprus tax framework has been completely modernized and adapted to the needs of today’s companies, both local and international.

The Cyprus company pays income tax at the rate of 12.5%. There are no inheritance, real estate, net wealth and municipal taxes in Cyprus. there is a real estate transfer tax of up to 8%. The value added tax is 19%. Income from dividends and transactions with securities are not subject to tax.

What Kind of Companies Can Be Opened in Cyprus?

Types of companies in Cyprus: Limited liability company. This may be a private limited liability company or a public limited company. Partnership (General and limited partnership). A branch of a foreign company. It is possible to open a branch office or a foreign office in Cyprus. 

Cyprus Offshore Bank Account

After setting up your company, you may want to open an Offshore Commercial Bank Account.

To apply for an offshore bank account in Cyprus, you will need to comply with the identification requirements. 

Can a Cyprus Company Open a Bank Account Abroad?

One of the first steps to start your offshore business venture is to apply for a business bank account. This allows business owners to keep their business deposits and expenses separate from their personal accounts, which means better limited liability protection and improved reliability for your business. 

How do the privacy policies for IBCs work in Cyprus?

Company information is provided to the Company Registration Officer in Cyprus as public records. It is to say that the Cyprus company structure is searchable globally. Candidates are recommended in case you need anonymity. Although it is not subject to local taxation, an IBC in Cyprus must submit a tax return to the Tax Authorities and the Companies Registration Officer. In addition, a Cypriot company must file accounting records that comply with International Accounting Standards.

What tax is an offshore company liable for in Cyprus?

Offshore companies, tax-free resident companies established in Cyprus, benefit from tax exemption for their earnings from overseas sources. They are taxed at a flat rate of 12.5% on any income from Cyprus. No taxes are levied on dividend income, interest income and foreign exchange earnings.

Frequently Asked Questions for Cyprus Region

In particular, Cyprus is one of our preferences to benefit from various incentives, exemptions and facilities.

Cyprus company registration can take up to 30 days.

Yes, you will receive it by email and also as a hard copy when your company is incorporated.

Passports and utility bills will need to be certified. 

Yes, you must have a registered office in the place where you will set up your company, and the cost of this is included in our incorporation package and annual renewal.

Offshore companies, tax-free resident companies established in Cyprus, enjoy tax exemption on their earnings from overseas sources. They are taxed at a flat rate of 12.5% on any income derived from Cyprus. There is no tax levied on dividend income, interest income, and foreign exchange earnings.

Company information is provided to the Registrar of Companies in Cyprus as public records. It is to say that the Cypriot company structure is globally searchable. Candidates are recommended in case you need anonymity.

Although not subject to local taxation, an IBC in Cyprus must file a tax return with the Tax Authorities and the Registrar of Companies. In addition, a Cypriot company has to file accounting records that are obliged to comply with International Accounting Standards.