General information:

The best tax planning is one of the many reasons for which thousands of businessmen chosen Cyprus for the Foundation of the international companies. Thanks to the favourable tax regime and numerous treaties on avoidance of double tax, Cyprus offers significant tax benefits.

Cyprus is one of the major financial centers of Europe, which has acquired particular importance after the accession to the EU. In Cyprus set the lowest in Europe the rate of corporate income tax (10%), and operates close to ideal system of tax privileges. Cyprus is a party to about 45 agreements on avoidance of double taxation. The withholding tax on dividends paid to recipients in other countries, in Cyprus is not charged. Cyprus is a country with a stable political system and a stable economy, where English is widely spoken language.

Monetary unit: Euro.
Official languages: Greek and Turkish, but as a business language commonly used English.
The type of legal system: Common law.
Type of company: Company with limited liability.
Corporate legislation: the Law on companies, art. 113. Law on tax on profit (2002). The special contribution to defence Fund of the Republic of Cyprus.
Purpose: the holding, financing, licensing, provision of services and other kinds of commercial activities, portfolio investment, investment funds. Some restrictions apply.
Restrictions on trading operations: For certain activities require a license. In particular it concerns the banking, insurance other financial activities.
The name of the company: prior authorization Must be obtained. The application will be denied if the proposed name is the same or very similar to the name of an existing company.
The language of constituent documents: the Greek. The constituent documents could be produced in English.
Taxation: the Tax on profit shall be levied the income of a Cyprus company in any country, the source of which is determined by the Law on profit tax for 2002. The tax rate is 10%. Income from capital gains, sale of securities, dividends, as a rule, are exempt from profit tax.
The annual license fee: 220 Euro
The annual fee: 350 euro
Agreements on the avoidance of double taxation: Cyprus is a party to agreements with 45 countries (by the end of 2010).
Registered office/representative: Company must have a registered office in Cyprus.
Shareholders: the Minimum number of shareholders: 1. Information on shareholders of publicly available.
Information about beneficiaries: Not disclosed.
Director of: the Minimum number of Directors: 1. The Directors may be residents of any country. Information on the Directors of the company is publicly available. Meeting of the Directors may be held in any country, but from the point of view of taxation, it is desirable that they were held in Cyprus.
Company Secretary: a Local (not a legal requirement, but rather a practical necessity).
Share capital: the Company should submit the annual financial statements and tax declarations. Audit of financial statements is required for the purposes of taxation.
Annual reporting: the Company is obliged to submit annual financial reports and tax returns.
The availability of a ready made company: Yes.