6 Rodou Str., St. Omologites, CY-1086 Nicosia, Cyprus
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6 Rodou Str., St. Omologites, CY-1086 Nicosia, 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!
Indeed, it is not surprising that since 1977 (the year in which the concept of "offshore companies" was introduced in Cyprus which in year 2003 was transformed to "International Business Companies"), Cyprus with a population of approximately 750,000 is the island in which many thousands of international set ups have been established with some even maintaining 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 information about Cyprus, 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.
Cyprus in Brief |
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|---|---|
| Very Low Tax (0% to 12.5%) (see FAQs) | Able to open a fully fledged office in Cyprus |
| Benefits from Double Tax Treaties | Nominee Services |
| Excellent status, location and climatic conditions | Excellent Banking and Professional Services |
| Useful vehicle for receipt of dividends, interest and royalties (in many cases at zero tax) | |
| Trading of shares suffers no tax at all | |
| No capital gains tax on sale of property situated outside Cyprus | |
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.
Situated in the Eastern Mediterranean, the island of Cyprus is at the crossroads of three continents. It has an excellent business and financial structure and offers many tax incentives. Cyprus company law is based on British company law. In year 2003, Cyprus joined the EU and in year 2008 it fully adopted the Euro currency.
Cyprus is not a tax haven but a low tax area with an annual tax ratebetween 0% and 10% (see FAQ's)payable in the case of an International Business Company. Cyprus has numerous double tax treaties for the avoidance of double taxation. In particular, extremely favourable treaties have been concluded with many countries for receipt of dividends, interest and royalty payments. Audited accounts must be filed with the Commissioner of Income Tax and the Central Bank of Cyprus.
It normally takes one or two weeks to incorporate a new company, but shelf companies (i.e. already established) are available within 24 hours. All companies must end with the word "Limited" and there are restrictions on the use of particular words in the company's name, such as "Corporation", "International", "Group", "Financial" etc (For minimum complications we may provide you with a list of already approved 'Shelf Company' names).
A Cyprus company can open a bank account anywhere in the world. We have strong links with a number of banks in Cyprus, the UK, Greece and elsewhere and can assist you with opening and maintaining bank accounts, online banking, issuing of debit/credit cards etc.
A minimum of one director, one secretary and one shareholder is required. To fully benefit from the various double taxation agreements, it is advisable to appoint at least one local Cypriot director. (All of these nominee officers and shareholders may be provided by Global Eye professional Advisors Ltd )
During the incorporation process, a bank or other reference, a curriculum vitae and a passport copy for each beneficial owner should be submitted together with proof of address (such as utility bill), a description of the main activities intended for the company and expected debit / credit turnover per year.
Cyprus is located in the eastern Mediterranean, south of Turkey and near countries like Syria, Lebanon, Israel, and Egypt. Though geographically close to the Middle East, Cyprus is culturally, politically, and historically aligned with Europe.
Cyprus features a Mediterranean climate with dry summers and mild, occasionally rainy winters. It has central plains, coastal lowlands, and two mountain ranges—Troodos and Kyrenia—with snow suitable for skiing in winter.
Cyprus is an independent republic with a presidential system. It has a multi-party democracy, an independent judiciary, and follows EU legal frameworks in certain areas.
Cyprus has a stable, service-based economy, with tourism and financial services playing key roles. It has low inflation, low unemployment, and competitive costs of living, making it attractive for both business and residence.
EU, US, and Commonwealth citizens typically don’t need visas. Non-EU foreigners need residence permits for long stays and must meet criteria for real estate purchases and family reunification.
Absolutely. Cyprus offers a robust commercial infrastructure, international banking links, low tax rates, and favorable business regulations, making it an ideal jurisdiction for offshore and international operations.
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