Any activity except trading with residents of Cyprus or in Cyprus pounds
or holding property in Cyprus. Can be formed within a week. Ready companies
available.
Memorandum and articles of association and details of issued capital, registered
office, shareholders, directors, secretary and mortgages and charges. The
identity of the company's beneficial owners is disclosed but is not publicly
available.
At least C£10,000 to be issued if an operational office is to be established
in Cyprus, otherwise C£1,000.
Minimum of one shareholder, who may be natural persons or bodies corporate.
The use of nominee shareholders is possible. Resident nominee shareholders
are recommended if the company is to benefit from the country's double tax
treaties.
Minimum of one director, being either person or corporate body. The directors
may be resident anywhere in the world and nominee directors are possible.
Resident directors would be necessary for double tax treaty access. |
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Must be maintained in Cyprus.
A person or body corporate, resident in any country, but ideally in Cyprus.
Audited by a resident auditor.
Income tax applies at the rate of 10% on the company's worldwide profits
as from the 01.01.2003. This is subject to where the management & control
of the company is resident. For example if the management is outside Cyprus
the taxation is zero (0%).
International business companies enjoy double tax treaties signed by Cyprus.
(See table here)
Residence permits and duty free allowances are available to International
Business companies and staff wishing to become established on the island. |
