Located at the north-eastern end of the Mediterranean Sea Cyprus is strategically located at the crossroads of Europe, Africa and Asia. With a Civil law system based on English common law (it has been an independent Republic since 1960) Cyprus is now a fully fledged member of the European Union offering tax effective investment into Europe (via a holding company regime regarded as one of the most advantageous in the EU).
Key Features and Benefits Include
- Tax efficient access to Europe: Cyprus levies no withholding tax on dividend payments from EU subsidiaries to a Cypriot holding company, (provided that the shareholding is at least 20%).
- No tax on dividends received: Dividends received from non-Cyprus companies are tax exempt (provided that a minimum 1% holding in the company paying the dividend is maintained).
- Exemption from Withholding Tax: Dividends paid by a Cypriot holding company to its ultimate parent company are not subject to withholding tax in Cyprus.
- Extensive DTA Network: Cyprus has double-taxation treaties with no less than 44 other countries, including most of the high-tax countries in Western Europe, and many states in Central and Eastern Europe. As a low-tax centre, this makes Cyprus a particularly effective location for companies aimed at emerging markets.
- Political Stability: Despite the Turkish invasion of 1974 Cyprus has remained quite stable politically and its Greek population enjoys one of the highest standards of living in Europe.
- Low Tax: Despite being an EU member Corporate Tax is just 10%.
- Ownership Privacy: Nominees shareholders and directors are permitted and ownership privacy is respected provided neither the company nor its owners are involved in any criminal activity.
Other Features Include
- Both legislation and corporate documents are produced in Greek and English
- There is no minimum share capital requirement
- The number of shareholders must be between one and fifty
- Company meetings can be held anywhere
- A minimum of only one director is required
- Locally audited annual accounts, in Greek, must be filed (although they are not publicly accessible)
- Full capital gains tax exemption applies to realized capital gains
- Companies incorporated in Cyprus but not tax residents of Cyprus are subject to zero taxation in Cyprus (a company incorporated in Cyprus is not considered to be a tax resident of Cyprus if it is not managed and controlled in Cyprus).
At OCI we believe in giving you more for your money than would the average IBC formation service. Hence included in the incorporation package for your Cyprus Company is the following:
- Unlimited name availability inquiries
- Advice from an experienced International Corporate Lawyer on how to structure your company
- Preparation (overseen by a lawyer) of application to incorporate the company
- Preparation (overseen by a lawyer) of the company’s memorandum of association
- Preparation (overseen by a lawyer) of the company’s articles of association
- Attending to filing incorporation request with the company registry
- Attending to payment of government filing fees
- One year’s Registered Agent service in the country of incorporation
- One year’s Registered Office service in the country of incorporation
- Mailing address in the country of incorporation
- Delivery of Incorp pack by international courier (ie DHL/Fedex/TNT etc)
- Unlimited free legal consultations for 12 months
Documents included in your Incorp pack:
- Certificate of incorporation
- 2 sealed/stamped copies of the company’s Memorandum of Association
- 2 sealed/stamped copies of the company’s Articles of Association
- Resolution appointing first director/s
- Resolution appointing first shareholder/s
- Up to 5 share certificates
- Resolution to open a bank account
- Resolution to rent an office
- Resolution/s to engage a Phone, Internet & Website service provider
- Resolution to hire a staff member/s
- Resolution to appoint a company lawyer
- Resolution to appoint a company accountant
- Resolution appointing you as the company’s authorised representative in commercial negotiations
- Resolution issuing a Power of Attorney in your favour
- Agreement authorising you to represent the company in commercial negotiations
- Power of attorney authorising you to sign documents on behalf of the company
- Register of directors
- Register of shareholders
- Expression of wishes (ie an “Offshore” Will)Lawyer authored User Guide (“How to Use Your Offshore Company”)
Price (all inclusive): $US 2,800
With tax effective offshore company management (ie including Professional Corporate “Nominee” Director, Shareholder & Company Secretary): $ 3,200
If you’d like to know more about Cyprus company please Contact Us
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Every effort has been made to ensure that the details contained herein are correct and up-to-date, but this does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission.