Updated: Jun 5, 2019
Whether you are business or an individual, iCyprus Investments can facilitate the every stage of the Investment process, right through till the aftercare and support. We are only interested in facilitating investments that will serve the investor and we can achieve it independent of any third party interests.
Reasons to look at Cyprus as a destination for investment vary according to needs but the infrastructure will help the decision making process.
Cyprus as a Strategic Location
Geographically positioned Cyprus offers investors a stepping stone into the single market of Europe. Free movement of goods, capital, services and labour between the 28 member states and the trading agreements Europe has in place with the rest of the world, are all huge advantages for setting up a base in Cyprus.
The Tax System
Another enormous pull to setting up a business or making investments into Cyprus is the Tax system. It is designed to help make a decision to invest on the Island that much easier. It has one of the lowest Corporate Tax Rates in Europe at 12.5%.
Cyprus has 35 double Tax treaties which apply to 45 Countries. The main purpose of these treaties is the avoidance of double taxation on income earned in any of these countries. These agreements usually allow a credit against the tax levied in the country where the tax payer resides for taxes levied in the other treaty country and consequently the tax payer pays no more than the higher of the two rates. Another extremely attractive benefit when looking at Cyprus as an option to invest into.
Personal Income Tax
An individual is taxed if he/she is a resident of Cyprus. To be considered a resident of Cyprus you must spend more than 183 days per year on the Island. All Cyprus residents are taxed in Cyprus on their worldwide income. Non-Residents of Cyprus are taxed in Cyprus only on income earned in Cyprus.
The Following Types of Income are Exempt from Taxation
Profits from the sale of shares;
Salaried services abroad by a Cyprus resident for a period totaling more than 90 days in a fiscal year to an employer who is not a Cyprus resident.
Other Notable Advantages of Investing in Cyprus
Free EU access to trade;
Rich diverse culture, country is politically and economically stable;
Fast track to approval for Permanent Residency and Citizenship;
Highly skilled and multi lingual workforce;
One of the safest countries in the world with highly developed infrastructure. Cyprus offers good quality of life for both physical and financial security.
Registration of Cyprus Companies
Setting up a company in Cyprus does not require your physical presence, either during the set up or when operational. Each aspect of a Company’s administration can be managed remotely. This can be organized through your accountant together with virtual offices.
Setting up a Company with confidentiality can be achieved by employing nominee directors and shareholders. No third party can access information. For opening a bank account the information is passed to the Bank but stays with the bank.
Safeguarding with nominees, nominee shareholder writes and signs an undated transfer of shares document, which can be dated by the real owner at any time. Also a nominated shareholder writes a declaration of trust, stating the shares are only in trust for you and the nominee has no rights to them. Same applies to nominee Directors, with an undated letter of resignation, which too can be submitted by you at any time to remove them.
Nominated Share Capital. Limited to the articles of memorandum. Usually authorized with a low issued capital of 1000 Euros and there’s not a requirement to deposit immediately.
A company which is resident is taxed on its worldwide income at 12.5%, which is one of the lowest corporate tax rates in Europe. A non domiciled investor secures Tax Free profits.
Cyprus Bank Accounts
A Cyprus bank account can be opened in your absence. The following are quick points for opening a Bank account in Cyprus:
There is full internet banking allowing transfers without limitations;
Opening a bank account in Cyprus is quick and relatively fuss free;
It’s possible to open a Cyprus bank account without minimum deposit terms;
Both personal and corporate bank accounts can be opened for companies or individuals of any jurisdiction or nationality;
There are no hidden costs and fees are considered reasonable. Full anonymity is possible as Cyprus has no agreements for the exchange of information.
Other Banking Service included when opening an Account:
Day to day handling of bank account transactions; Assistance with letters of credit; Loans and other credit facilities; Debit and Credit card; On-line banking services; Multi currency accounts; Introductions to private banking services.