Cyprus for Commercial reasons
- Membership of European Union as from 1 st May 2004
- Anonymity of the beneficial owners of a company
- High standard of banking system
- Freedom from exchange control
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Cyprus for tax reasons
- The lowest tax system in the European Union at 10 % on taxable profits
- One of the most favorable Holding company jurisdiction(even a small holding of 1 % in foreign companies entitles the Cyprus Holding company to enjoy substantial tax benefits)
- Availability of Group losses relief without any time restrictions, under certain conditions
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Business Branch
Procedures to set up a business branch
To establish a business branch in Cyprus an application must be filled with the Registrar of Companies.
Documents and information required
Within 30 days from the establishment of the Branch, it must file the following documents to the local Registrar of Companies:
- A certified copy of the charter, memorandum and articles of association, translated into Greek language
- Details of the directors and secretary of the branch
- Full name and address of at least one person resident in Cyprus with authority to accept on behalf of the branch any notices required to be served
All above documents must be certified and apostiled in the country of origin of the branch by a notary public.