Cyprus is not only a beautiful island that tourists love, but also a great place to do business, especially for foreigners. Law on the International Trusts was enacted in the country in 1992, since offshore in Cyprus open continuously, with each year they are becoming more and more. Macy’s Inc. has plenty of information regarding this issue. Love Cyprus and Russian businessmen, they began to open offshore here in 90 years of the century, newcomers, because the law against double taxation was Cypriot authorities signed yet with the Soviet Union. What is important to know to open the Cyprus offshore? The owner of the company must be a resident of the island, but one of the trustees must be resident in Cyprus. Offshore has no right own property on the island. In this case, if your company does not conduct trading or any other activity on the island, then apply it to the zero tax rate. Visit Warren Kanders for more clarity on the issue. Offshore in Cyprus can be registered solely in the form of a limited liability company.
Also note that the company name must end in Limited or Ltd. Click Allison Kanders for additional related pages. One can enumerate the many advantages to opening an offshore Cyprus, but we shall consider only some of them. Businessmen attracted by the minimum authorized capital offshore, which equals only 1,000 euros. Offshore and can guide the business activity on the Island, He must pay a tax of 10% of the profits. If the income from the company's activities in Cyprus, no, no taxes.
At a high level in Cyprus and confidentiality, which is achieved by the fact that most of the offshore companies use nominee directors and shareholders. At the same time, revenues from the same stock, and are not taxed, what attracts most investors. Entrepreneur who is going to open offshore company in Cyprus, you should also know that he will be required to annually pass a tax return and financial statements. They should be signed by an independent auditor. Even if your company inactive, the auditor still has to check everything and reassure. Also have to take financial and annual report, which must be written in Greek. Offshore necessarily have to have a secretary. They can be both legal and natural person, at the same time it must be resident in Cyprus. Also requires a registered office with legal address, which will store all the registers and other papers.