There are many benefits available to companies in Cyprus. With some very low tax rates, Cyprus is a very lucrative location for businesses. Cyprus is incredibly well located, with easy access to three continents and of course it is also a full member of the EU. When you start to look closely at the unique situation of Cyprus, you begin to see just how advantageous it is to form a company here.
But Cyprus company formation isn’t just for those lucky enough to live in this beautiful country; foreign nationals can also form businesses within Cyprus and we’re here to help with that. If you’re considering starting a company but are unsure of the best location for this, then please read on to discover the advantages of Cyprus company formation and the benefits it could bring to you…
Many tax benefits
A Cypriot company can take advantage of several tax benefits. These include the lowest rate of corporate tax in the whole of the EU at just 12.5% of profits. That figure alone is enough to bring many businesses to Cyprus each year. But there are other tax benefits too such a personal tax exemptions for new residents and non-domiciled persons. There is no succession tax, and other than in a few exceptional circumstances there is no capital gains tax either. In addition, the Cyprus government has arranged double tax treaties with more than 60 countries.
Fast formation with low fees
Setting up a business in Cyprus is far quicker and cheaper than it is in other countries. Your company can be up and running in as little as five days.
A great business environment
The Cyprus business world is accessible and welcoming. With an up-to-date infrastructure and high standard public administration services, running a business here is as straightforward as it is in your home country. What’s more, nearly everyone speaks fluent English and legal documents are permissible in English too, so you don’t have to worry about not understanding documents or being misunderstood yourself. The Cyprus banking system is highly secure and well regulated and business accounts are available for foreign nationals.
EU and UN benefits
As a member of the European Union and the United Nations, Cyprus businesses have the added level of advantage offered by being under these umbrellas. The legal and tax framework within Cyprus is stable and modern, closely aligned with other European nations.
A wide range of help is available
Globalserve offer services to help with every aspect of Cyprus company formation and management. To find out more about how we can help you set up a new Cyprus company, or provide vital services for a business already established on these shores, please get in touch.