Cyprus has become one of the leading international business center in the world for carrying out international operations and activities.
This development has been the result of its expanding network of Double Tax Treaties, its generous tax concessions but also due to several commercial & business factors amongst which the most important are:
Advantages of Cyprus Companies
- Membership of European Union as from 1 st May 2004
- Strategic geographical location being at the cross-roads of Europe, Asia & Africa
- High quality standards of professional services
- Excellent telecommunication system
- Provision of professional services at competitive & reasonable prices
- The procedures to set up an IBC are simple and the related costs low
- Freedom from exchange control
- Anonymity of the beneficial owners of a company and many more other reasons making Cyprus a very attractive place for many companies to base their operations in the island
For more information please refer to section under ‘Investment in Cyprus ,Analysis and Advice’.
What is an International Business Company(IBC)
An International Business company is essentially a legal entity owned by foreigners, registered in Cyprus but having operations and deriving it's income outside Cyprus. In the case that the shareholder of the IBC is a European Union resident then the IBC is allowed to carry out activities also within Cyprus.
Moreover, an IBC is allowed to maintain an office in Cyprus from where it can manage its operations
Also it is a simple procedure to register and set up a legal entity in Cyprus.
An IBC offers anonymity to the beneficial owner for the carrying out of the operations of the business and the making of investments.
Finally, Cyprus IBCs enjoy substantial tax benefits including the fact that Cyprus has the lowest corporation tax rate (10 %) in European Union and the nearby countries as well as a wide network of double tax treaties that Cyprus has signed with 35 countries.
Types of businesses that can be incorporated:
There are three forms of Businesses that can be incorporated in Cyprus:
- a limited liability company, including a Cyprus Holding Company
- a General or limited liability partnership
- an International Branch of a foreign organization
Most International Business Companies are limited liability companies and only a small fraction of them, are partnerships or branches because in essence their legal status and financial liabilities are the same to those of the beneficial shareholders.
Services that we offer through our associates are:
- Registration of a Cyprus International Business Company
- Maintenance of accounting records
- Budgets and management accounts preparation
- Feasibility studies
- VAT related services
- Deal with the government authorities on your behalf
- Preparation and submission of the annual audited Financial Statements
- Operating bank accounts and executing payment orders
- Provision of registered office address
- Provision of Cyprus Nominee shareholders
- Provision of Cyprus Nominee directors
- Provision of Cyprus Nominee secretary
- Personnel recruiting