| Cypcorp - International growth |
| Cypcorp wants to give companies the best possible conditions when they restructure for international growth. That is
why Cypcorp now offers company formation in offshore jurisdictions like Hong Kong, Dubai, Gulf region, Singapore, Delaware, Nevada, Belize, Seychelles,
etc.
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| Cyprus a financial center |
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Since 1975 the Cypriot Government has made the necessary changes to make Cyprus a financial
center, thus securing the island future and economic strength.
Cyprus has full OECD clearance. It became a full member of
the European Union by 1st May 2004 and joined the Euro monetary system on the 1st of January 2008
With a corporation tax on 10%, Cyprus has the lowest company taxation within EU. It is very important
to note that Cyprus is not a tax paradise, but has a taxation regime that is approved by the
European Union.
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| International Business Companies (IBC) and Trusts in Cyprus |
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International Business Companies registered in Cyprus, pay a tax of 10% on its net profits.
IBCs that are resident, may obtain full access to Cyprus double-tax treaty network.
If an IBC is not considered to be resident in Cyprus, it will pay zero tax.
IBCs that are non-resident does not have access to the double-tax treaty network.
Exemption from capital gains tax (except on sale of real-estate in Cyprus).
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An alien who creates international Trust in Cyprus and retires in Cyprus is still exempt
from tax if all the property settled and the income earned
is abroad, even if the person is a beneficiary.
An Internatinal Trust created for estate duty planning purpose would not be subject to estate
duty in Cyprus.
Cyprus has no withholding tax on payment of dividends, interest and royalties by an IBC to
non-resident individuals or companies.
Dividend income received by a Cypriot IBC is 100% exempt from tax in Cyprus
(under certain conditions).
Profits earned from branches/daughter companies abroad are 100% exempt from corporation tax.
Profits from the sell of shares are not taxable for all Cyprus tax residents.
50% of interest bearing investments received is exempted from tax. The interest that arises
in the ordinary course of business (e.g. interest
on overdue debtor balances) is not exempted from tax.
There is no restriction on how many years you can carry-forward tax losses. You can bring them forward
indefinitely to be set off against possible
future profits.
Group relief is available whereby losses from a company can be set off against taxable profits
accumulated by another company in the same group.
There are no tax implications on reorganizations, amalgamations, mergers and acquisitions of companies.
No exchange control restrictions - an IBC can open a bank account in any currency in any country
Cyprus has 32 Double Tax Treaty agreements, which apply to 40 countries. They can be used to minimize tax.
Confidentiality and anonymity of beneficial owners is safeguarded (true identity is only disclosed to local
banks, if a local account is opened
and information is not disclosed to any third party or to other countries, except in the case of properly authorized
criminal investigation
(drugs, terrorism etc.).
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| Why is Cyprus the best business location in Europe? |
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Cyprus has a strategic location at the crossroads of three continents (Europe, Asia, and Africa).
Is a member of the European Union with Euro as its monetary system, gives easy access to the European market.
Has excellent business relationships with the Middle East and Eastern Europe.
It is an ideal jurisdiction for Holding Companies with the lowest corporate tax rate in the EU at only 10%
Double tax treaties with 40 countries
Banking, accounting, and legal services are extremely efficient and one of the strong points of the economy
Attractive location for Foreign Direct Investment (FDI) with a high FDI performance and a high FDI
potential
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Cyprus has an advanced telecommunications network and infrastructure, as well as a wide network of air-routes
offering excellent connections
with Europe, Africa,and Asia and first-rate sea connectivity.
Has a highly qualified, multilingual labor force with significantly lower labor costs when
compared to the EU average
The legal system is based on English Law
Ranking among the 10 leading maritime nations in the world, the island is a highly reputable international shipping center.
Has a strong economy growth, more then 4% per year and per capita GDP of US$26,000 in 2007
(providing high consumer purchasing power).
It offers macroeconomic stability with successful economic performances such as high growth rate,
low inflation and unemployment rates.
There are no inheritance taxes in Cyprus.
Cyprus has one of the lowest crime rates in Europe
As a Mediterranean island, Cyprus has a superb climate with dry summers and mild winters, enjoying about 340 days of sunshine.
more information about Cyprus >>
PLEASE NOTE! Our web site refers ONLY to the government-controlled area of Cyprus, NOT the occupied part.
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