About Cyprus
Cyprus is the third largest island in the Mediterranean. The island is located in the north-eastern end of the Mediterranean Sea. Cyprus is ideally located at a crossroads, linking Europe, Asia and Africa. Cyprus is readily accessible by air and sea, with major port facilities available.
With 12.5% corporate tax, Cyprus is one of the lowest non-offshore tax jurisdictions in the European Union. Although not a full tax haven, it offers a host of other financial advantages and benefits to companies and individuals. Cyprus enjoys excellent infrastructure, international accounting firms, legal practices, banking, a highly educated and multilingual workforce, as well as appropriate government regulations and a general policy of non-intervention in business operations.
Cyprus has solid geopolitical and trading relationships with key global markets, which, together with an ideal geographical location, puts it in an excellent position for investment into neighbouring markets; including the EU, Europe, Russia, CIS, as well as the Middle East and North Africa.
Benefits of Setting up an Offshore Business in Cyprus
- 5% corporate tax on net revenues
- No tax on the dividends paid out to its non-resident shareholders
- 5% tax on revenue from intellectual property, such as patents, trademarks, books, music, sports rights, films etc.
- No tax on dividends received from subsidiary companies all over the world
- Corporate bank accounts available
- Companies in Cyprus are respected as an EU company
- Capital gains tax exemptions on sale of immovable properties abroad
- No contract stamp duties
- No tax on profits from permanent establishments abroad
Key Corporate Features
| General | |
| Type of Company | Private |
| Type of Law | Common |
| Shelf company availability | Yes |
| Time to establish a new company | 3 days |
| Minimum government fees (excluding taxation) | €350 |
| Corporate Taxation | 12.5% |
| Double Taxation Treaty Access | Yes |
| Share capital or equivalent | |
| Standard currency | Euro |
| Permitted currencies | Any |
| Minimum paid up | €1,000 |
| Usual authorised | €1,000 |
| Directors | |
| 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 |
| Shareholders | |
| 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 | |
| Requirements to prepare | Yes |
| Audit requirements | Yes |
| Local Auditor | Yes |
| Requirements to file accounts | Yes |
| Publicly accessible accounts | No |
| Recurring Government Costs | |
| Minimum Annual Tax / Licence Fee | Not applicable |
| Other | |
| Requirement to file annual return | Yes |
| Change in domicile permitted | Yes |
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