Cyprus is widely recognised as a leading jurisdiction for structuring international activities. Some of the corporate and tax advantages of Cyprus are:
- A strong legal system based on English common law principles.
- The lowest corporate tax rate in the EU, at only 12.5%.
- Exemption of profits generated from disposal of securities such as shares and bonds.
- Exemption of dividends from taxation by corporations, in most cases.
- No withholding taxes on outward payments of dividends, interest and royalties (except if they were granted for use in Cyprus).
- Exemption of profits of overseas permanent establishments from taxation.
- No CFC and thin capitalization rules.
- Carry forward tax losses up to five years and flexible group relief and group reorganisation provisions.
- A favourable non-domicile regime for foreign individuals.
Our team of experts can assist you, on a case by case basis, in structuring your affairs in a tax efficient manner, by paying attention to the laws and regulations and their practical application.
Corporate and business set up
Our Corporate Compliance department can assist with a full range of set up and administration services for businesses, which includes:
- Company and trust creation in Cyprus.
- Assistance with setting up fully fledged offices in Cyprus.
- Assistance with ships and yachts registration in Cyprus.
- Assistance with opening and monitoring of bank accounts, credit cards and online banking facilities.
- Bookkeeping and payroll services.
- Tax and VAT compliance.
- Assistance with arranging for execution, legalisation and certification of documents.
- Compliance with statutory requirements and filings.
- Secretarial work such as drafting of minutes and resolutions, powers of attorney and maintaining statutory registers.
- Provision of a registered address in Cyprus.
Immigration and Naturalisation
Our Compliance team includes immigration and Global Mobility experts that will guide clients through the complicated and sometimes cumbersome procedures involved. Our services include:
- Assistance with obtaining employment permits for expatriate personnel and members of their family.
- Assistance with obtaining permanent residency visas.
- Assistance with Cypriot citizenship applications both through the economic citizenship programme and the conventional method.
We advise both corporate and personal clients on all aspects of the Immigration and Labour Laws.