WHY REGISTER A COMPANY IN CYPRUS
Better tax planning is one of the many reasons why so many thousands of businessmen have chosen Cyprus for the purpose of establishing an International Business Company. Cyprus, unlike many offshore jurisdictions is not a 'tax haven' and does not offer 'brass plate' companies. Instead, Cyprus offers great tax incentives due to its favourable tax regime and its wide network of double tax treaties. These tax incentives together with so many other incentives offered by Cyprus, render Cyprus the ultimate international business centre of our planet!
There is no longer any distinction in Cyprus between what were previously known as offshore and local companies registered in Cyprus. Offshore companies registered in Cyprus used to enjoy a reduced level of corporate tax at the rate of 4.25%. This is no longer the case and the basic rate for corporation tax is now at 10%. Even at 10%, this is presently the lowest rate in Europe, with other tax incentives in force in order to attract foreign investment.
Cyprus is regarded as a prestige low tax jurisdiction, unaccompanied by the aura of suspicion normally surrounding offshore jurisdictions. A company registered in Cyprus, comes into its own when used as part of a well designed international tax strategy. On the accession of Cyprus to the European Union in May 2004, monetary control restrictions were scrapped. Investors may freely transfer money into Cyprus, and freely transfer money out of Cyprus, without restrictions. One further point to remember is that registering a company in Cyprus unlocks the advantages to be gained by a European company, when trading with companies registered in other member EU states.
Many of the well known offshore tax jurisdictions impose low or nil income tax on the company profits. However the problem with those jurisdictions is that they do not have double tax treaties.
Cyprus offers a basket of incentives including the low tax on the net profits and the double tax treaties. We recommend either reviewing this site in its entirety or contacting us for details, so that you are knowledgeable of Cyprus jurisdiction and the powers granted to Cyprus companies.
We will guide you through the process of registering your company and establishing your registered identity. Complete and submit our application form online. Adequate completion and submission of this form, along with the provision of payment, will enable Elias Christofi & co to incorporate your proposed company within seven business days.
Indeed, it is not surprising that since 1977 (the year in which the concept of the international business entity was introduced in Cyprus) Cyprus with a population of approximately 750,000 is the island in which over 40,000 international set ups have been established whilst over 1,000 IBC's maintain fully fledged and operational offices on the island.
The information contained on this website is not by any means exhaustive. It does nevertheless provide the reader with a great understanding of what Cyprus International Business Companies are and why so many thousands of businessmen worldwide have chosen Cyprus for the purpose of carrying out and monitoring their international business operations.
In providing this information, it is our prime intention to contribute to the effort of Cyprus to become an even more successful international business centre for the benefit of foreign investors and to the Cyprus economy.