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Cyprus: Your „one-stop-shop” for the last 40 years

Despite the banking crisis of 2013, Cyprus remains to this day an extremely popular company formation centre, with the number of companies being incorporated continuing to grow.

So just what is the secret behind this popularity?

To begin with, there is the 40 years which Cyprus has spent as an international financial centre;

On top of that comes the complete package of tax benefits, which quite simply can not be matched by any single jurisdiction in the world.

Here are just of few of those benefits:

  • EU membership, partnered by relatively low rates of corporate tax (12.5%);
  • incoming and outgoing dividend payments are both free from tax;
  • no capital gains tax;
  • royalty-type income enjoys an 80% tax discount (meaning that the real rate of tax in such cases is 2.5%);
  • liberal accounting regulations, creative calculation of expenses;
  • numerous valid agreements for the avoidance of double taxation are in place.

Companies registered in Cyprus can also open bank accounts locally (company and bank account in the same country). This is particularly useful if the company is to be used for e-commerce purposes.

Three years ago a large firm of consultants asked 400 tax specialists which EU country offered the best tax system overall. Taking everything into consideration, the specialists unequivocally put Cyprus in first place.

 

For more information please click here:

Company formation in Cyprus

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