Cyprus Ready Made Shelf Company
Tax Status:Onshore Low Tax Jurisdiction with IBC’s and EU Membership.
Advantages: As a Member of the European Union, but with the International Business Company (IBC) being treated as an onshore company with a corporate tax rate of just 10%, Cyprus offers a unique jurisdiction, well placed for genuine international tax planning.
Disadvantages: Cyprus has a complex Companies Act and Tax regime, which requires a good local Agent to consult and advise on the correct use of an IBC incorporated there.
Directors and Shareholders: Cyprus Companies may have local or foreign Directors and Shareholders, although the desired tax status may require a local presence. We have Personal and Corporate Nominee Directors and Shareholders available on a case by case basis only.
Banking: There is a selection of Cypriot and International Banks to choose from and account opening requirements vary, depending on the chosen banks application system. Our local Agents can assist with the application for a bank account.
Accounting Requirements: By virtue of special provisions in the Cyprus Income Tax Laws, the net chargeable profits of Cyprus IBC Companies are taxed at a rate of 10%. Annual tax returns must be filed and we suggest using an experienced local Agent.
Annual Requirements: Cypriot companies are required to file an annual tax return and audited accounts, plus costs for Registered Office / Agent, Nominee Directors and Shareholders.
Recommended Use: Cyprus, one of the smallest European low tax jurisdictions, is an ideal jurisdiction in which to locate an intermediary company due to the island’s combination of tax treaties and low-tax regime. Dividends can flow through the Cyprus company totally tax free and the company can be used to take advantage of the extensive network of double tax treaties.
Due Diligence: To comply with legal requirements in your jurisdiction of choice, before we can supply any ready-made ‘shelf’ or pre-incorporated Company, IBC or LLC to you, we will require identification of the beneficial owner such as passport copy and proof of address. Specific details will be provided upon application, depending on your full requirements.
DISCLAIMER: Please note that we do not give legal advice. We assist to incorporate and maintain companies, sell pre-existing or ready-made shelf companies and provide nominee directors and shareholders. We accept no responsibility or liability for the actions of those operating the companies that we sell. Liability and responsibility remains with the beneficial owner or end user of the company.