 Cyprus is not anymore -since May 01 2004- a Tax Haven but is now a Full Member of the European Union... but it can also be said that Cyprus is the Member who applies the lowest level of Corporate Tax (10 percent only) and besides the Dividends can be paid to the Shareholder(s) in ANY COUNTRY where they belong, without any withdrawal at source...
It is now possible to enjoy the full benefits provided by the extensive network of Double-Taxation-Treaties signed by Cyprus with numerous countries ( see text).
The Limited Companies incorporated under Cyprus legislation have certain characteristics that have made them the choice of many companies or groups of a fair size or high level of operations in commercial or trading activities.
Cyprus is an independent island in the Eastern Mediterranean . The Cypriotes describe it as the crossroads of Europe, Africa and the East.
Cyprus has been an important market in terms of business, commerce and trade for a very long time.
The island obtained independence in 1960 after having been British and has been divided in two since the Turkish invasion in 1975. Even though this could imply a precarious situation, the truth is there has been stability for 23 years between the Turkish North and the Greek South.
The South unites 80% of the total population and is the financial centre of the country.
The Resident Companies are nowadays all taxed on a basis of 10 pct of their profits
(This means that the Consulting Fees charged by Companies or Private Persons, Sales Expenses, Marketing Costs, Purchase of License or Royalties Served,as well as Travel or Accomodations Expenses worldwide are FULLY DEDUCTIBLE from the profits before calculating the Tax Liability on the Balance -we do the paperwork on your behalf-
It is required to show the yearly accounts audited by the Registrar.
The Law for the companies is similar to the English law since it is based on the "English Company's Act of 1948".
Companies incorporated in Cyprus have reduced taxes but are not totally exempt of them. Thus enjoying a more attractive image regarding international business operations.
Cyprus has signed Treaties of non-double-assessment for the following countries:
Austria
Bulgaria
Canada
Czech Republic
Denmark
France
Germany
Great-Britain
Greece
Hungary
Ireland
Italy
Kuwait
Norway
Poland
Romania
Russia
Slovak Republic
Sweden
USA
Treaties with other countries are in the process of being signed.
The fact Cyprus has joined the European Union makes all the above International Tax Convention Treaties ( or Double Taxation Treaties) to be applied without any discussion or problem, by ALL the Countries in the E.U. and this means that a Company incorporated in Cyprus differently from a French one in France , or a Spanish one in Spain , etc....
The companies registered in Cyprus must have their headquarters in Cyprus .
The information about the owner can stay confidential.
Cyprus also has a performing bank system and offers services such as legal, taxation or accounting services by Qualified Professionals.
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