Why Cyprus
Over the last decades international businesses and high net-worth individuals have been using Cyprus for various reasons, according to their particular needs, profile and goals, making Cyprus a respected and well established international jurisdiction for business.
The tax regime in Cyprus provides excellent motivations for setting up a company within the Cyprus jurisdiction. A company registered in Cyprus can be used as an International Business Company both in Cyprus and abroad. From the tax-planning aspect some of the core advantages for registering a Company in Cyprus are:
Strategic Location
• Cyprus is an island situated in the north-eastern basin of the Mediterranean Sea at the junction of three continents, Europe, Asia and Africa, thus enjoying a strategic and central geographical location which enables Cyprus Companies to be used as a gateway to Europe, Asia and Middle East;
European Union Member
• The full EU membership of Cyprus since 2004 and its accession to Eurozone since 2008 render a Cyprus-registered Company a prestigious vehicle;
• Cyprus is an island situated in the north-eastern basin of the Mediterranean Sea at the junction of three continents, Europe, Asia and Africa, thus enjoying a strategic and central geographical location which enables Cyprus Companies to be used as a gateway to Europe, Asia and Middle East;
European Union Member
• The full EU membership of Cyprus since 2004 and its accession to Eurozone since 2008 render a Cyprus-registered Company a prestigious vehicle;
Attractive Tax Environment
• Flat corporation tax rate of 12,5% (one of the lowest in EU).
• Extensive network of favorable Double Tax Treaties.
• No withholding tax on dividends paid to non-resident individuals and entities in the Republic
• Tax exemption on profits of international business branches if their management and control is outside Cyprus.
• No inheritance taxation.
• No taxation of capital gains except on sale of immovable property situated in Cyprus.
• Gains from the disposal of securities are exempt from taxation
• Dividend received from a company resident in the Republic is not taxable
• Dividend received from a company non-resident in the Republic is not taxable (subject to certain conditions)
• Excellent group relief and carried forward losses legislation
• No taxes for the repatriation of profits from Cyprus companies to non-residents
Robust and Transparent Regulatory Environment
• Cypriot tax legal regime is fully harmonized with the EU Directives as well as in full compliance with the Code of Conduct for Business Taxation and against harmful tax competition;
• Cyprus law allows the use of nominees (shareholders, directors, secretaries) thus respecting the anonymity of a business owner.
High Quality Professional Services
• Highly qualified and multilingual labor force.
• Efficient accounting, legal and banking services.
• Cypriot tax legal regime is fully harmonized with the EU Directives as well as in full compliance with the Code of Conduct for Business Taxation and against harmful tax competition;
• Cyprus law allows the use of nominees (shareholders, directors, secretaries) thus respecting the anonymity of a business owner.
High Quality Professional Services
• Highly qualified and multilingual labor force.
• Efficient accounting, legal and banking services.
Low set-up and operating costs
• Low-cost and quick incorporation procedures
• Full stamp duty exemption on contracts entered into by international business entities.
Other advantages
• The recent offshore findings of massive fossil-fuel reserves rank Cyprus as one of the most promising growth prospects in the Eurozone in the medium to long-run;
• Attractive regulations for residency acquisition by non EU residents
• Work permits for foreign employees and their families can be readily obtained if they maintain an office in Cyprus;
• Excellent climate and living conditions
• Low-cost and quick incorporation procedures
• Full stamp duty exemption on contracts entered into by international business entities.
Other advantages
• The recent offshore findings of massive fossil-fuel reserves rank Cyprus as one of the most promising growth prospects in the Eurozone in the medium to long-run;
• Attractive regulations for residency acquisition by non EU residents
• Work permits for foreign employees and their families can be readily obtained if they maintain an office in Cyprus;
• Excellent climate and living conditions
