Forming a Company in Cyprus |
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Forming a company in Cyprus is an ideal, tax-efficient way to conduct international business. If properly underaken, forming a company in Cyprus is a low tax solution which portrays a positive image to your customers, suppliers, investors and venture capitalists. The following information will help you determine whether forming a company in Cyprus meets your objectives: |
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Advantages of forming a company in Cyprus |
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1.
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Cyprus joined the European Union (EU) in May 2004 and adheres to European standards of commercial and financial infrastructure, as well as a stable government, economy and legal system. |
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Entrepreneurs forming a company in Cyprus benefit from a low corporate tax rate of 10%. This rate is applicable to both onshore and offshore companies. |
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When tax planning in Cyprus, not that there is no tax on profit moved from non-resident investments. Furthermore, dividends, interest and royalty payments are not subject to withholding tax. There is no capital gains tax after forming a company in Cyprus. |
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Entrepreneurs forming a company in Cyprus benefit from double taxation treaties Cyprus has signed with more than 40 countries. |
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100% foreign ownership is permitted when forming a company in Cyprus. |
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It is easy to open global corporate bank accounts to support Cyprus company formation. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services. |
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Losses incurred after forming a company in Cyprus can be set against profits in the future years for tax reasons. |
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Forming a company in Cyprus is ideal for holding and investment purposes. |
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Establishing a Cyprus company is an ideal way to book international profits at just 10% corporate tax. |
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Establishing a Cyprus company portrays a positive image to your customers, suppliers, investors and venture capitalists etc in Europe and around the world. |
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Cyprus is not on the list of countries that have recently made tax information exchange agreements (OECD) with other nations. |
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Disadvantages of forming a company in Cyprus |
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1. |
Worldwide income is taxable for Cyprus-resident individuals and corporations. |
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Following Cyprus company formation, a full set of annual accounts must be submitted to Cypriot authorities. |
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Details of the beneficial owners of a company in Cyprus must be disclosed to the Central Bank of Cyprus but bank employees are bound by secrecy agreements. While the EU withholding tax applies to residents of Cyprus, this tax does not apply to interest paid to companies. |
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Contact Us For additional information on formaing a company in Cyprus, email email@healyconsultants.com or telephone in Singapore us at (+65) 6735 0120. Back to Cyprus Company Formation page. |
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Buy Healy Consultants' Asia Business Set Up book, to order call +65 6735 0120 or e-mail email@healyconsultants.com
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