Cyprus Companies - Registering a Cyprus Company
If you wish to incorporate a Cyprus Company, the Oxford Team can assist you with the Cyprus Company Formation and the opening of a Bank Account so that you can start your business immediately. Oxford also provides company administration and nominee services.
Cyprus has become one of the most attractive places for businesses to register Cyprus International Business Companies or IBC’s (which were previously know as "Offshore Cyprus Companies") due to its tax benefits. The term “Offshore Cyprus Company” has been abolished in 2004 upon the induction of the Republic of Cyprus to European Union.
A prospective client usually chooses Cyprus for setting up Cyprus Company (IBC) for the following reasons:
- lowest fixed corporate tax rate in Europe (only 10%);
- hold shares in underlying subsidiaries with main purpose to capital appreciation which can be sold in the future. The profits from such a disposal are tax exempt in Cyprus;
- assist international groups seeking for low tax jurisdictions on dividend income. Such dividend income is tax exempt in most cases;
- assist local groups paying dividends outside Cyprus to minimise their tax liability. There is no withholding tax liability;
- take advantage the favourable Double Tax Treaty Network of Cyprus and the EU directives. Oxford’s Tax Planning Cyprus Department will assist you to select and adopt the most suitable structure for your business;
- benefit from the favourable repatriation provisions of Cyprus tax law from payments of dividend, interest and royalties without the need to pay any withholding tax;
- exemption from capital gains tax on any disposal of the holding in an underlying company;
- flexible reorganization rules enabling rapid restructuring with minimum tax implications;
- Different classes of shares with different rights, such as profit sharing, redeemable preference shares and voting rights may be issued;
- Although shareholder information is part of the public record, beneficial ownership information is not disclosed to any regulatory authority;
For more information about Cyprus Companies you may download our FACT SHEET No. 1 - INFORMATION ON CYPRUS INTERNATIONAL BUSINESS COMPANIES (I.B.Cs.).