Company Registration in Cyprus in 2023
We have been assisting with company registrations in Europe for decades, and based on our experience, Cyprus is one of the most tax-efficient countries within European Union, that’s why you should definitely consider setting up a company in Cyprus. In this article we’ll highlight the main advantages of company registration in Cyprus.
One can use Cyprus company formation for varied purposes and with appropriate structure it can offer an efficient tax way for one to undertake international businesses. Understandably, the legal system in Cyprus is closely linked to the Common Law principles of the United Kingdom and it is in tandem with the EU legal framework. Surprisingly, majority of the Cyprus company formation includes a private limited in terms of company shares. Arguably, in most cases a limited liability organization enables shareholders to become only liable to the level of the share values they own. In this case, companies of Cyprus are usually considered by business people to be the most beneficial options for global business entities, with the primary activities of holding and investing assets.
The European continent have varied tax rates but Cyprus is one of the countries in this region with the lowest rates. For instance, companies in Cyprus are supposed to pay a corporate tax of 12.5 percent. The government allows total tax exemptions for the profits gained through dividends received form abroad or permanent established in other nations but under specific situations. In this case, the dividend and interest taxes declared by firms to non-resident shareholder cannot be withheld. Further, Cyprus has a considerable number of double taxation treaties with more 40 jurisdictions including, the UK, US and China.
The government provides a total tax exemption on transfer or sale of shares in a firm with exception where the firm has immovable property in Cyprus. Apart from this, companies receive a maximum of 80 percent tax exemption on the profits they generate from exploitation or licensing and money received after disposing intellectual property. Companies can also receive unrestricted access to EU directives. Companies in Cyprus provides a foreign shareholder confidentiality and asset protection through nominee or fiduciary services. In such a case, registered director and shareholders of a form are typically publicly disclosed by the company register. They are allowed by the constitution of Cyprus to protect their anonymity with the help of nominees.
Private Financial Services provides nominees or fiduciary services. When registering a company in Cyprus, experts create a trust instrument to guarantee that a particular nominee will solely use the powers depending on the written instructions of the owner. Our legal department at our legal agency supervises the process of establishing nominee services. Our firm guarantees confidentially, trust, integrity and transparency.
When you start with company registration in Cyprus it can be incorporated with a period of approximately 10 business working days. Such a company can be 100 percent owned by foreigners of any nationality. The beneficial owner is not needed to be physical available in Cyprus when registering a company. Not only that, you can do distantly do all the procedures through couriers and emails. The firms in Cyprus represent reputation and status since they are the most popular ones in Europe. These firms enable businesspeople to legitimately conduct business not only in Cyprus but also in Europe and other nations globally.
By the way, we also have ready-made, or so called shelf-companies in Cyprus. Please contact our specialists to get a consultation on company registration in Cyprus.