Registration of Offshore Companies in Cyprus
Cyprus is the largest island in the Mediterranean Sea. Large city of Cyprus, in the majority combines the role of the business and tourist centers. At the entrance you will have to pay a fee of about 1.5 Cypriot pounds. Also you will need insurance card of international standard if you are going to ride your car there.
Registration of offshore companies in Cyprus
Officially Cyprus is not included in the list of "offshore havens", but for many years, it remains popular among businessman from all over the globe. Cyprus can be called an international business center with a loyal taxation. Cyprus has long been an attractive region due to its political stability and high standard of living. Not interested in Cyprus? You can order services of incorporating business in Dubai at Zenesis Corporation!
The development of the offshore area is important for Cyprus, since approximately 9% of the budget is coming thanks to the registration of foreign companies.
Cyprus for several years has maintained the status of a country with the most loyal tax rates in the European Union. The taxation for its citizens is only 10%. For non-residents owning offshore companies, there is zero tax which determined the profitability of doing business in this country. The value added tax is in the range from 0 to 15%, if the sales of goods and services is conducted in this country.
The standard tax for offshore companies is 4.25% of net profit, missing inheritance. There are no monetary fund restrictions. There is a possibility to open bank accounts in any currency. Currency can be sent abroad in any quantity.
The main advantages of registration of offshore companies in Cyprus:
- Single tax rate for non-resident companies is 10% (minimal in the EU region).
- Low VAT.
- Low cost of offshore registration.
- Zero tax for income from the sale of stock and dividends of the Bank.
- Low cost annual support for local businesses.
- The absence of double taxation – relevant agreements were signed with more than 30 countries.