Cyprus is the third largest island in the Mediterranean Sea. Over the past decade, representatives of the international European business arena have recognized the Republic of Cyprus as one of the most beneficial jurisdictions for financial planning among other EU member states.
Cyprus has done a great job of improving its banking system and now more than 40 Cypriot banks of state and commercial type are operating on the island. Cyprus is an attractive location for the establishment of an IP holding and development company, offering an efficient tax rate as well as the legal protection afforded by EU Member States and by the signatories of all major IP treaties and protocols.
Both “non-resident” and “resident” companies can operate in Cyprus. The company is deemed to be a “resident” if the majority of its directors are residents of the Cyprus and hold their regular meetings on the island. Only “resident” companies can benefit from double tax treaties and obtain VAT certificate.
Advantages of company registration in Cyprus:
- Since 2004 Cyprus is a part of the European Union;
- Double tax treaties are maintained with more than 50 countries;
- On 14 July 2017, the Parliament introduced a legislation giving tax residency to persons who spend at least 60 days in Cyprus a year;
- Rate of corporate tax is 12,5 %, which is one of the lowest rates in Europe;
- Cyprus provides an opportunity to redomicile a company from another jurisdiction;
- Jurisdiction is used to create trusts;
- Dividends received in Cyprus and abroad are not taxable;
- Transactions with securities and shares are not taxable;
- Gains from real estate transactions outside of Cyprus are also tax exempt;
- Income from any foreign branches and subsidiaries is taxed at zero rate;
- All necessary documents and certificates of registration can be provided in English;
- There is a possibility to obtain residence permits for all directors of the company and for their family members.
Our experts will help you to organize physical presence for your company in Cyprus remotely, to take full advantage of the tax benefits. Having physical presence in Cyprus we are familiar with the modern requirements of the local banks and are proud with the number of opened bank accounts.