Republic of Cyprus

The Cypriot Government in recent years has significantly harmonized the economic and legislative environment with the European Union. Cyprus was and is known as a major offshore jurisdiction, mainly thanks to developed infrastructure and legislation in the area of International Business Companies (IBCs), which arises from binding precedent of mainly the United Kingdom of Great Britain and Northern Ireland.

The main reason for forming a registered seat in Cyprus is found in its advantageous conditions for taxation in the area of dividend payout, and licensing and authorship fees.

The country is divided into two parts - Greek and Turkish (The Greek population represents around 3/4 of the island’s overall population). For investment opportunities, the southwest - Greek side of Cyprus is advantageous, because it is more advanced economically, and has an internationally recognized government. The Euro has been introduced in the Republic of Cyprus as of 01 January, 2008.

Legal formPrivate Company Limited by Shares (Ltd.)
LegislationBased on English common law
Companies Law Cap. 113
The Income tax Laws of 2002
Foundation timeOnce received all required documents from a client, the incorporation of the new Ltd. takes usually 2 weeks and documents are delivered within 4 weeks.
ShareholdersMinimum required and maximum permitted: 1-50
Form: physical person/corporate body (both possible)
Nationality: Any (Cypriot nationality not necessary)
DirectorsMinimum directors required: 1
Minimum secretaries required: 1
Form: physical person/corporate body (both possible)
Nationality: Any (Cypriot nationality not necessary)
Other: Local director/secretary suitable for tax purposes
Share capitalNo specific requirements
Bearer sharesNot allowed
TaxesCorporate income tax rate: 10%
Withholding tax: no withholding taxes on payments of dividends, interest and royalties irrespective of recipient, no taxation on the profits from the sale of securities (no minimum holding period, percentage etc.)
VAT: registration threshold if: a) the turnover exceeds 15,600EUR in the previous 12 months b) the expected turnover will exceed 15,600EUR in the following 30 days
Other: Filing of annual returns required; extensive network of double tax treaties
AccountancyFiling of accounts required
AuditRequired, local auditor must be appointed
Anonymity and confidentialityThe companies register reveals information concerning the directors, shareholders, registered address, incorporation date, charges and mortgages registered on company assets through the online search which is payable.
OtherShelf companies availability: YES
Registered office: Must be maintained in Cyprus
General meetings: Could be held anywhere in the world

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Our services fulfill Czech Standard - ČSN EN ISO 9001 & Czech Standard - ČSN ISO/IEC 27001