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Why Cyprus formation of Company

Why Cyprus formation of Company

Over the past twenty years, Cyprus has developed into one of the most favourable places for international business. A low tax regime combined with its excellent geographical position and infrastructure and its ability to offer sophisticated Cyprus tax planning opportunities, its ability to set up and manage collective investments schemes, the enactment of the Cyprus International Trusts Law which provided for the formation and administration of Cyprus International Trusts combined with its excellent geographical position and infrastructure where the key factors for its success.

Important benefits when choosing Cyprus:

  1. Cyprus double Tax Treaties

    • Acknowledge as having best choice of inward/outward investment for certain countries e.g. Russia, Ukraine, Poland and many CEE countries;

    • Very attractive double tax treaties with, China, etc.

  2. Appropriate  Legal System

    • Flexible and workable Corporate and Trust laws based on UK legal system;

    • Setting up and operating of a Cyprus company or Cyprus International Trust is relatively quick, easy with clear responsibilities and duties of all parties such as directors, shareholders, trustees, protectors, investors, etc;

  3. Tax Efficient System for International Business

    • Zero Tax on dividends income;

    • Zero withholding tax on dividends to non-residents;

    • Zero capital gain tax on sale of qualifying titles shares;

    • 12,5% Cyprus income tax on net interest income and/or other income.

  4. Quality of Professional Services

    • Cyprus lawyers and Cyprus accountants are:

      • mostly UK standard educated;

      • member of self registered bodies governed by ethical codes of UK or  International organisations i.e. UK ACCA, UK ACA etc.

  5. Cyprus business Language

    • English

  6. Educated skill force for employment

  7. Flexible Residence, Cyprus Passport/Visa/Working for Executives and Key personnel

  8. Cyprus business environment. Good business environment, Cyprus living is of high standard, good climate.

  9. Price. One of the cheaper places in EU for fiduciary services and maintaining international companies/trusts, especially compared to Luxembourg, Switzerland, Holland, etc).

 

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PKF / ATCO Limited is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms. This publication is for information purposes only and should not be considered as professional advice.

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