Cyprus is situated in the eastern part of the Mediterranean Sea, at the cross-roads of Europe, Africa and Asia. It enjoys a healthy and pleasant climate with dry summers and mild winters. Cyprus governmental structure is modeled on Western Democratic systems. It follows closely the United Kingdom legal system.
Cyprus is a full member of the EEC as from 1 May 2004.
One of the Government’s primary objectives of its policy is to attract foreign investment. To achieve this, it has offered incentives to non-residents encouraging them to establish legal entities for the purpose of managing their overseas affairs or offering services abroad from Cyprus.
- 12.5% tax rate on taxable profits.
- No withholding tax on dividends paid to non-resident shareholders.
- Dividend income is exempt from tax in Cyprus irrespective of its source, provided certain conditions are satisfied. Where the exemption does not apply, 17% defense tax is payable, but credit for foreign tax suffered is given irrespective of the existence of a treaty.
- No tax on the disposal of shares.
- Profits of a permanent establishment maintained abroad by a Cyprus company are exempt from tax in Cyprus under certain conditions.
- Profits on sales of property (other than property in Cyprus) are not subject to Capital Gains Tax.
- A long list of countries have signed Double Tax Treaties with Cyprus.
- There are no restrictions on import and export of currency.
We are currently running a promotion offer for the members of Adam Global in relation to the company formation and administration of Cyprus companies for the limited period to 30 June 2016 as follows:-
- Company formation – €1,100
- Annual representation fees (which includes nominee director, secretary, shareholder and registered office) for the first year €750 and €1,200 thereafter
We shall be pleased to give you more details if you are interested in working with us.
Written By : Pantelina Nicolaou , ADAM Global’s Cyprus Partner