In terms of tax planning, Cyprus is one of the most attractive jurisdictions in the world. Key advantages of this jurisdiction:
- non-offshore status, which allows you to take advantage of treaties for the avoidance of double taxation;
- low tax rates;
- special tax breaks for certain types of income.
As a prestigious jurisdiction and a member of the European Union, Cyprus allows for commercial activities and efficient tax planning thanks to a double taxation treaty. Income tax here is 12.5%, being one of the lowest in the European Union.
Features of jurisiction
- The need to submit annual financial statements and audit by a licensed auditor;
- Payment of the annual state fee;
- Possibility of registering a VAT payer;
- Open unified register of companies;
- Simplified tax certification.
Company registration
As a rule, companies in Cyprus are registered for the purpose of using them as an intermediary for the payment of income in offshore jurisdictions, as well as for conducting trading activities. This jurisdiction allows the company to be used to carry out operations with securities, protect assets, and also as a source of funding.
Company registration procedure
To register a company, you must provide the following documents:
- One to three planned English company names for verification.
- A package of documents for shareholders, directors and beneficiary, which includes:
- civil passport, foreign passport or driver's license.
- confirmed residential address;
- constituent documents for legal entities.
- Information about the proposed type of activity of the company and the geography of the business.