- Positioned at the crossroads of Europe, Africa and Asia.
- One of the most attractive jurisdictions for doing business in the EU.
- EUR national currency.
- One of the largest Shipping Registry in the world.
Cyprus, an island in the Mediterranean Sea lies at the crossroads of Europe, Africa and Asia at the crux of the busy shipping and air routes linking the three continents.
The population of Cyprus is over 1 million people, with the capital in Lefkosia situated in the heart of the island. The second largest city is Lemesos on the south coast and the island’s major port. Larnaca and Pafos are the third and fourth largest cities, each with a new airport, situated on the south west and south east coasts respectively.
Cyprus joined the European Union on 1st of May, 2004 and proved itself an efficient and sophisticated business environment. Despite the 2012-2013 crisis and the challenges that came with it, the government’s commitment to achieving economic recovery and growth made Cyprus successfully face the island’s economic challenges, and establish itself as a thriving business center, with low business costs, suitable for any investor.
The Cyprus Shipping Registry is one of the largest in the EU and it is estimated to constitute 25% of the whole EU vessels registered and the 10th largest worldwide. Moreover, Cyprus is the biggest third party ship management center in the European Union and the Cyprus flag is on the “white list” of the Paris Memorandum of Understanding (MoU).
TAXATION & LAW:
Cyprus offers one of the most attractive tax systems in the European Union along with the EUR as its national currency. The country provides a simplified, effective and transparent tax regime that is fully compliant with the EU laws and regulations. The Organization for Economic Cooperation and Development (OECD) includes Cyprus on its “white list” as one of the 45 countries that have introduced and implemented the highest internationally agreed standards on harmful tax practices.
Cyprus has a network of double taxation agreements with more than 50 countries.
- Cyprus has one of the lowest corporate tax rates in the EU – 12.5%.
- If the company acts as a holding company, foreign sourced dividends are exempt from tax.
- 0% tax on dividends.
- 0% tax on the profits from the sale of listed securities.
- Legal system is very much aligned and modelled by the British Common Law.
The following forms of company can be incorporated in Cyprus:
- Limited Company
Business activities which are ideally suited to the Cyprus tax environment include:
- Holding companies
- Finance companies
- IP companies
- Investment Funds
- No minimum share capital requirement.
- Number of shareholders must be between one and fifty.
- Company must have at least one local director (nominee can be arranged).
- Annually audited accounts must be filed.
Our company offers a full range of corporate services, from local, free zone and off-shore company formation, to accounting services, auditing support, bank account opening, resident visa services, business advisory and compliance services.