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Information About Cyprus Offshore Companies

Cyprus offshore companies are perfect for anyone who wants an offshore company registered in Europe. A Cyprus offshore company is a low tax company which means the company is taxed on its profits at the end of the financial year, but at tax rate which is very low when compared to the corporate tax in other European countries. The jurisdiction of Cyprus has an excellent reputation and is known for its financial centre and offshore services. The location makes a Cyprus offshore company an excellent investment.

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Cyprus is one of few jurisdictions which offer a low tax company. A Cyprus offshore company pays a 10% corporate tax on all corporate profits but on the other hand tax exemptions are provided for the following taxes; Capital gains tax and withholding tax. The dividends paid to shareholders are not taxed in the tax haven of Cyprus. In spite of the low tax rate applied to the Cyprus offshore companies, the business entities still remain very popular amongst persons looking for a good offshore jurisdiction in Europe. Cyprus offshore companies use includes trade, asset protection, tax planning, as holding companies and many other business purposes.

For Cyprus company formation the requirements are the standard documents required by other jurisdictions. Cyprus offshore enterprise construction, similar to Seychelles company registration, can be incorporated by individuals of any nationality. The process of offshore company registration in Cyprus can take one (1) working week or less to complete and is carried out by agents who are well experienced in providing this service. Therefore the prospective Cyprus company owner has no need to travel to Cyprus for setting up a Cyprus offshore company.

The requirements for Cyprus offshore company formation are as follows;

  • Memorandum of Association
  • Articles of Association
  • Authorised share capital is €1000
  • The number of shares to be issued
  • The name and address of the company shareholder
  • The name and address of the company director
  • A registered address (local address)
  • Name and address of the Company Secretary
  • The objectives of the company must be clearly states
  • By-laws of the company

The minimum number of shareholders required for forming a Cyprus offshore company is one and the legislation allows for the use of corporate shareholders and the shareholder does not necessarily have to be a resident of the jurisdiction. Only one company director is needed. The structure of a Cyprus offshore company is simple and flexible which makes the Cyprus offshore company easy to maintain. Cyprus is one of the jurisdictions where a company secretary must be appointed during or immediately after offshore company formation takes place. It is recommended that the company secretary be a resident of Cyprus.

Since Cyprus offshore companies are taxed locally, at the end of the financial year the company must prepare and file annual financial reports with the tax authorities.

Cyprus offshore companies have the advantage of benefiting from double tax treaties with a number of countries and this is important in helping reducing the rate of taxes paid by a Cyprus offshore company. This is one of the reasons that the Cyprus offshore companies are very popular with residents of some European countries.

The cost of Cyprus offshore companies formations is low and the company provides a number of benefits. Cyprus is a stable jurisdiction with a well established international business centre, which makes the jurisdiction very appealing to investors. Incorporating a Cyprus offshore company means taking advantage of Europe’s lowest corporate tax rate.


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