Cyprus has been recognised across the world as offshore vehicles that can be successfully used in a variety of International Business, carry out commercial and industrial activities. Cyprus is a member of the European Union and member of the Eurozone.

A Cyprus company, is a limited liability company which conducts its trading and business outside the Cyprus and is intended for offshore activities. It takes up to 5 days to incorporate a company in Cyprus.

The Directors of the company may be of any nationality and may reside anywhere. At least one director is a need and there is no requirement to appoint a local resident director.

The Shareholders of the company may be of any nationality and may reside anywhere. At least one shareholder is required, this can be the same person as one of the directors. There is no upper limit to the number of shareholders and a shareholder can be a person or a corporation.

The standard share capital of the company is €1,000. However, only one share of the share capital must be issued and paid up. Your company's share capital can be issued in any currency.

Company Secretary / Registered Office / Registered Agent 

The company must have a local secretary and registered office in Cyprus.

Privacy

The details of the Shareholders and Directors of the company do appear on the public record are fully accessible by the public.

Company Records

The company must maintain accounting records, however it is not required to keep records in the Cyprus. There is a requirement for audited financial statements and submit details of the directors and shareholders to companies' house.

Corporation and other taxes

A Cypriot company is taxed on its worldwide income at a rate of 12.5%.

The VAT (sales tax) standard rate is at 19% of product located within the island or the EU.

In addition, there is an annual government levy of €350.

Why use a Cyprus Company

Cyprus offshore companies are commonly used for

  • Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title;
  • Owner of the shares of other companies or legal entities;
  • Owner of real estate and any other movable or immovable property or goods;
  • Manager and promoter of international business transactions;
  • Borrowing or lending money, paying or receiving commissions, or others;
  • Access to EU market using the European Directives of Parent- Subsidiary, Interest and Royalties, Merger
  • Owner of Intellectual Properties. This will enable the very attractive tax regime with a corporate tax of just 2.5%
  • Ship ownership. Cyprus has one of the largest ship registry in the world and a special tax environment based on tonnage.
  • Fulfilment of substance requirement for trading companies looking to minimize the tax by establishing a physical office in Cyprus with operations at a very competitive pricing.
  • Payment service provider used to transfer funds
  • Electronic Money Licensing (E-Wallets)

Our Formation Package

  • Registered Address and Agent
  • Company Secretarial Maintenance
  • Government fees
  • Certificate of Incorporation
  • Memorandum & Articles of Association
  • Appointment of First Directors
  • Consent Actions of the Board of Directors
  • Share Certificates
  • Register of Directors and Members
  • Company Seal

We also offer Nominee and Management Services (Substance requirements) along with bank account opening and international tax planning.

Prices and fees included on our website

http://www.genshape.com/shop/cyprus-company-formation/

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.