Cyprus
Due to its strategic geographical location and the low corporate tax, Cyprus grew to be one of the most appreciated Business Centers Worldwide. Following the EU entry on 1 May 2004, the image and standards of the country have been upgraded significantly. In order to invite more foreign investors, the Government of Cyprus has lifted all restrictions on foreign direct investment, which led to the model of one of the most appreciated Corporate Services standards globally. In addition, the services and activities of a Cyprus Corporate Legal Entity are without doubt almost limitless.
Key Benefits:
- Having one of the lowest Tax in EU jurisdiction that is not offshore, being 12.5%, it is a major key point for Businesses be attracted in Cyprus’s company formation.
- The island’s corporate Tax is the most stable Tax EU-wide.
- An extensive network of double Tax treaty and access to EU directives.
- Underlying subsidiaries, holding shares, with the main purpose to capital appreciation which can be bargained of in the future.
- The different cases of shares with distinctive rights. For instance, redeemable preference shares, profit sharing and voting rights can be applied.
- Cyprus Corporate Law is formed from the UK Companies Act 1948.
- Beneficial ownership information is not disclosed to any regulatory authority, even if shareholder information of the public record.
- The current discovery of the natural gas in the island’s free economic zone is anticipated to shift the island into an international Energy Station and an important point for investment growth.
Documents & Fact Sheets
General
| Legal System | Common Law |
| Type of Company | Limited |
| Exchange Controls | No |
| Re-domiciliation Permitted | Yes |
| Shelf Companies Available | Yes |
| Timescale for new entities | 5 working days |
| European SA | Yes |
Corporate Requirement
| Minimum Share Capital | €1 |
| Minimum Number of Shareholders | 1 (natural person or corporate body) |
| Minimum Number of Directors | 1 (natural person or corporate body) |
| Bearer Shares Available | No |
| Registered Office Required | Yes |
| Company Secretary Required | Yes (resident of Cyprus either natural person or corporate body) |
Public Filings
| Directors | Yes |
| Secretary | Yes |
| Shareholders | Yes |
| Beneficial Owners | No |
| Issued Share Capital | Yes |
| Memorandum and Articles of Association | Yes |
Annual Filing Requirements
| Annual Return | Yes |
| Audited Financial Statements | Yes |
| Annual Filing to Tax Authorities | Yes |