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Price: £1500
Country: Cyprus
Population: 788,000
Capital: Nicosia
Currency: Euro
Language: Greek, though English is widely spoken

The Republic of Cyprus occupies the southern part of the island of Cyprus in the eastern Mediterranean. The island (and capital city Nicosia) is divided with Turkey to the north. Known for beaches, it also has a rugged interior with wine regions. Coastal Paphos is famed for its archaeological sites relating to the cult of Aphrodite, including ruins of palaces, tombs and mosaic-tiled villas.

Cyprus Offshore Company Formation

Open

£2450.00

  • Company Formation in Cyprus
Services Included  Year 1 Year 2
Incorporation Yes N/A
Corporate Structuring Yes N/A
Company Secretary Yes £250(essential)
Corporate Domicile Yes £450
Government Fee Yes €350
Nominee Resident Director Yes (essential) £500 annual (essential)
Nominee Shareholder Optional Extra Optional Extra
Total Cost

£2,450

 

 

 

Details of Cyprus International Company:

  • Permitted to have only one subscriber and thereafter only one shareholder.
  • Permitted to have only one director.
  • Directors can be corporate or individual and need not be local resident.
  • Director and shareholder can be same person or same corporate entity.
  • Requirement for company secretary (cannot also be sole director). For practical purposes, the company secretary would be resident in Cyprus.
  • Meetings of directors or shareholders may be held in any country.
  • Public disclosure of directors, secretary and shareholders. Beneficial ownership is not in the public domain.
  • Requirement for audit and to file accounts and annual returns (arrangeable through Turner Little).
  • There is a uniform 10% Corporation Tax Rate on all Cypriot Companies though if the Cypriot Company has Non Cyprus resident directors and beneficial ownership, the tax residency of the company will not be in Cyprus and the 10% tax rate will not apply.
  • No withholding tax on dividends, interest and royalties paid by a Cypriot company to a non-Cypriot resident Company or Individual. Can result in a no tax situation.
  • Exemption from CGT on any capital gain earned outside Cyprus. Can result in a no tax situation.

Banks
A member of the banking team will be able to advise on the most suitable offshore bank account.

All prices quoted are exclusive of VAT.

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