Cyprus: A Thriving Business and Shipping Hub
Cyprus has emerged as a global epicenter for business and shipping, hosting over 100 shipping companies and 1,000 international business companies with fully staffed offices.
Understanding International Business Companies (IBCs)
Cyprus Address: The company must have a registered address in Cyprus. Shareholders: IBCs may have 1 to 50 shareholders, whether Cypriot or foreign individuals or entities.
Capital: No minimum authorized share capital, though EUR1,000 is common, with a minimum issued capital of EUR1,00.
Directors and Secretary: At least one Director and one Secretary are required.
Taxation: Cyprus companies are taxed at 12.5% on profits if management and control are in Cyprus, providing access to the Double Tax Treaty Network. If management and control are offshore, the company is not subject to Cyprus taxation.
Accounts: IBCs must submit accounts to Tax Authorities and the Registrar of Companies.
Anonymity: Anonymity can be achieved through nominee or trustee-held shares
Three primary business forms can be incorporated in Cyprus
Most IBCs take the form of limited liability companies due to their legal status and financial liabilities aligning with those of beneficial shareholders.
Cyprus Address: The company must have a registered address in Cyprus. Shareholders: IBCs may have 1 to 50 shareholders, whether Cypriot or foreign individuals or entities.
Capital: No minimum authorized share capital, though EUR1,000 is common, with a minimum issued capital of EUR1,00.
Directors and Secretary: At least one Director and one Secretary are required.
Taxation: Cyprus companies are taxed at 12.5% on profits if management and control are in Cyprus, providing access to the Double Tax Treaty Network. If management and control are offshore, the company is not subject to Cyprus taxation.
Accounts: IBCs must submit accounts to Tax Authorities and the Registrar of Companies.
Anonymity: Anonymity can be achieved through nominee or trustee-held shares.
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