CYPRUS INTERNATIONAL BUSINESS COMPANY FORMATION
An International Business Company (IBC) is a Cyprus company which has foreign shareholder(s). An International Business Company can either be a resident of Cyprus, provided its management and control is in Cyprus, or a non-resident, provided its management and control is outside of Cyprus. 100% foreign ownership is allowed.
Benefits of registering a company in Cyprus are as follows:
Cyprus is a member of the European Union (EU) offering additional opportunities for an IBC to do business in Europe. English is its second official language after Greek;
Low tax rate regime. Profits are taxed at the rate of 12.5% for all Cyprus Tax Resident companies, which is one of the lowest tax rates in Europe and worldwide. A Tax Resident Company is a company whose management and control is exercised in Cyprus;
Double tax treaties the avoidance of double taxation are in place with more than forty countries. Provisions of Cyprus double tax treaties and relatively low taxation in Cyprus allow to significantly reduce tax burden in both countries;
No taxation on the profits from the disposal of shares for tax residents of Cyprus (companies and individuals);
There is no withholding tax on dividends, interest and royalties to non-resident individual or corporate shareholders;
Capital gains realized on immovable property held outside Cyprus are outside the scope of Cyprus capital gains tax;
A shareholder’s liability is limited to the capital investment. The required minimum share capital is 1,000 Euro;
VAT rate is 19%, which is lower than in a number of other European countries.
iCYPRUS INVESTMENTS CORPORATE SERVICES
Tax, accounting and auditing;
Registered office services;
Secretarial and administration support;
Bank account opening;
Licensing of Cyprus companies;
Expert legal advice;
Work permit applications;
Commercial and technical due diligence;
CYPRUS COMPANY REGISTRATION PROCEDURE
To start the process for a Cyprus Company Formation, please in the first place complete our Cyprus Company Formation Questionnaire.
Come up with your Cyprus Company Name. We will check its availability with the Company Registrar.
Provide requested document for the company directors and shareholders: passport copies, proof of address, bank references and CV (the detailed list of required documents will be communicated to you).
We will prepare your company M&A and submit it along with other documents to the Registrar.
Once the company is registered the company documents will be forwarded to you.
Your company will be registered with the tax authorities and Tax Identification Number (TIC) will be obtained.
The company will be registered with VAT and other authorities at your request.
We will help you open a corporate bank account with any bank of your choice.
Nominee directors and secretary service will be provided if required.
Cyprus Company Registration Time
The estimated time to complete a Cyprus Company Formation is between 7 and 14 business days.
Cyprus Shelf Companies
Cyprus Shelf International Business Companies are also available. A shelf company purchase will speed up the incorporation process.