Why Setup a Company in Cyprus ?
Cyprus is not officially considered a tax haven; however, Cyprus still offers several benefits for investors and companies looking to incorporate in the European Union. Cyprus is a traditional tax-based structure that has one of the lowest corporate tax rates in the EU at 12.5% and offers non-resident-based companies that are completely free from all local taxation.
Cyprus offers international company vehicles that are perfect for holding or investment accounts or trading purposes. Companies can easily be paired with an offshore bank account whether it’s a local or overseas bank.
Cyprus Company Formation Package
Main Characteristics of a Cyprus Offshore Company
|Company Type||Private Company limited by share.|
|Governing corporate legislation||The Cyprus Bar Association is the governing authority and companies are regulated under the Cyprus Companies Law, Cap. 113.|
|Information published relating to company officers||Upon registering your company in Cyprus, company officers name will appear in the business registry, however, nominee services are available.|
|Taxation||12.5% (Business outside Cyprus 0% Tax)|
|Legislation||Modern offshore legislation.|
|Time to form||7 days|
|Stability||Stable jurisdiction with a very good reputation.|
|Communication||Efficient communication means.|
|Time zone||Convenient world time zone: GMT+2|
|Paid up capital requirement||No paid-up capital requirement. The standard share capital is EUR 1,000 but can be amended to fit your requirements.|
|Renewal Date||Anniversary date of the company / Each Year|
|Basis of legal System||Under Common Law.|
|Minimum directors/shareholders||A minimum of 1 director/shareholder suffice for incorporation.|
|Bearer shares||Bearer shares are not permitted.|
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Scope of Services
|Services and Documents Provided (Company Formation Service Fee)||Status|
|A welcoming letter,|
|Certificate of Incorporation (demo picture);|
|The nominee deed of trust,|
|The nominee transfer of shares agreement|
|A share certificate|
|A tax advice letter|
|The memorandum and articles of association|
|The Cyprus income tax registration documents with a Cyprus income tax number (T.I.C) as well as the Cyprus V.A.T Registration document|
|Certificate of Incorporation (Government Fee)||Status|
|The indemnity signed by the U.B.Os for using the company in Cyprus in a legal and proper way and of course your p.o.a if you need one (Power of Attorney).|
|A Cyprus Company registration is completed by its registration in the records of the registrar of companies and the issuance of the incorporation certificates and the memorandum and articles of association|
Cyprus Offshore Company Registration is ideal for?
What are the required documents for the Cyprus Offshore Company Formation ?
Cyprus Offshore Company Starting from $ 2850
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Frequently Asked Questions – Cyprus Company Formation
Cyprus is one of the most attractive jurisdictions in Europe to form a limited liability company due to its advantageous tax system. Cyprus holding companies enjoy all the benefits that the low tax jurisdiction has to offer such as full exemption from tax on dividend income, no withholding tax for dividends paid to non-residents, no capital gains tax and one of the lowest company tax rates in Europe of just 12.5%.
In addition, Cyprus has more advantages such as its corporate laws which are based on the English Companies Act and are in line with EU directives, low incorporation fees and a quick incorporation process.
Moreover, Cyprus has a wide double tax treaty network and is currently negotiating for more.
Offshore companies, non-tax resident companies, incorporated in Cyprus enjoy the tax exemption for the profits from oversea sources. They are taxed at a flat rate of 12.5% for any incomes derived from Cyprus. There is no tax on dividend incomes, interest incomes, and foreign exchange gains.
There is no minimum registered or paid-up capital for a private Cyprus Company.
Yes, an annual return must be filed annually with the Companies Registration Office regardless of whether the company has traded or not. SFM, through its partners’ local accountants can take care of this formality for you.
Cyprus company officers’ names are publicly available to check online.
Yes. Absolutely! The entire process to open a bank account for Cyprus company can be done remotely. However, it is recommended to travel to meet the bank and to discuss your business requirements.
Skwer Group have more than 35 years combined experience in offshore company formation, our global network of registered agent based in more than 20 major jurisdictions, allow us to offer our clients the best services at a very competitive price.
Each client receives a tailor-made service, aligned with the latest jurisdiction laws. In addition, we also provide related services such as bank account opening and accounting services.