Cyprus Company Formation |
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If correctly-structured, Cyprus company formation is an excellent, tax-efficient way to conduct international business. The following information will help you determine whether Cyprus company formation is the optimum corporate structure to fulfil your international business objectives: |
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| Advantages of Cyprus Company Formation | ||||||
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Cyprus company formation allows entrepreneurs to legitimately conduct business in Cyprus and internationally at a corporate profits tax rate of 10%, the lowest rate in the European Union (EU). Furthermore, Cyprus is positively ranked as the world's 24th freest economy in the Heritage Organisation’s 2010 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets. |
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| 2. | Cyprus company incorporation allows 100% foreign ownership. A minimum of one shareholder and one director is required for Cyprus company formation. Corporate shareholders and directors are permitted, and can be of any nationality. |
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Following Cyprus company formation, Healy Consultants can open a corporate bank account with one of the world's leading retail banks, including HSBC, Standard Chartered and Citibank. |
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| 5. | A Cypriot company is ideal for holding and investment purposes. For more information, visit our Starting a Business in Cyprus webpage. |
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| 6. | Forbes Tax Misery Index 2009 rated Cyprus as having the 6th lowest tax misery in the world. The index takes into account corporate income, employer social security, personal income, employee social security, wealth tax and VAT/sales. Forbes suggests the index can be used as a proxy to evaluate whether a country’s policy attracts or repels capital and talent. |
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| Disadvantages of Cyprus Company Formation | ||||||
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Following Cyprus company formation, a full set of annual accounts must be submitted to the Cyprus Inland Revenue Department. Healy Consultants will assist our clients efficiently and effectively to complete this annual statutory obligation. |
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Following Cyprus company incorporation, shareholders and directors details are available for public viewing. |
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Cyprus is ranked as the world's 27th least corrupt country, according to the 2009 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians. Furthermore, Cyprus is poorly ranked as the world's 34th most
competitive economy in the
World Economic Forum's Global Competitiveness Report 2009-2010. |
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Considerations for Offshore Company Formation |
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Offshore companies can be an excellent, tax-efficient vehicle for entrepreneurs to conduct their international business. When selecting an offshore jurisdiction, it is important to evaluate variables such as i) its international reputation for conducting business, ii) legalities that govern investor activity iii) the stability of its economy iv) the political stability of the market. |
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While offshore corporations can have the significant advantage of legitimately minimising tax obligations, there can also be the disadvantage of carrying the tax haven stigma associated with some jurisdictions. More information on Healy Consultants offshore company services can be found on the following pages: |
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| Contact Us | ||||||
For more information on Cyprus company formation, email email@healyconsultants.com or telephone us at (+65) 6735 0120. |
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| Back to Europe Company Incorporation page. | ||||||
| Back to Home page. | ||||||
Buy the Cyprus chapter of Healy Consultants' Asia Business Set Up book, to order call +65 6735 0120 or e-mail email@healyconsultants.com
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