Cyprus IBC Incorporation & Company Formation

 

Background & General Outline

Cyprus is the third largest island in the Mediterranean after Sicily and Sardinia. Located in the north-east end of the Mediterranean Sea Cyprus is effectively a crossroads linking Europe, Asia and Africa. It covers an area of approx 9,200 sq km and lies 65 km south of Turkey, 96 km west of Syria, 385 km North of Egypt and some 980 km south-east of Athens. The capital is Nicosia.
Cyprus is one of the most discreet offshore centres in the world and enjoys economic stability making it a popular location.

Legal System

The legal system is Civil code with many English Common Law influences.

Currency

The official Cyprus currency is the Cypriot Pound.

Language

Greek, English and Turkish are the official languages of Cyprus. English is widely spoken and understood, particularly in commercial and government sectors.

Disclosure of the Beneficial Owner

The identity of the beneficial owners of a Cyprus Company may remain confidential if corporate shareholders or Nominees are engaged to act as the shareholder on behalf of the ultimate beneficial owners.  This confidentiality is maintained as long as the company and its ultimate beneficial owners are not involved in any criminal activity.

Taxation

Uner special provisions in the Cyprus Income Tax Laws, the net chargeable profits of Cyprus IBC Companies are taxed at a rate of 10%.

Double Tax Treaties

Cyprus has entered into more than 32 double tax treaties with the following countries: Austria, Bulgaria, Belarus, Belgium, Canada, China, the Czech Republic, Denmark, Egypt, France, Germany, Greece, Hungary, India, Ireland, Italy, Kuwait, Malta, Mauritius, Norway, Poland, Romania, Russia, (including most of the CIS countries, i.e. Azerbaijan, Armenia, Kyrgyzstan, Moldova, Uzbekistan and Ukraine), Singapore, Slovakia, Slovenia, South Africa, Sweden, Syria, Thailand, United Kingdom, USA and the former Yugoslavia.

Exchange Control

Yes, but does not apply to IBCs .

Name Restrictions

Any word that the Registrar considers undesirable. Any name that is identical or similar to an existing company or sounds similar. Any name that implies illegal activity or implies royal or government patronage, the following words or their derivatives: asset management, asset manager, assurance, bank, banking, broker, brokerage, capital, credit, currency, custodian, custody, dealer, dealing, deposit, derivative, exchange, fiduciary, finance, financial, fund, future, insurance, lending, loan, lender, option, pension, portfolio, reserves, savings, security, stock, trust or trustees. If the word “Group” is to be used in the company name the minimum number of corporate shareholders are two.

The name of a limited company, shall end with the word "Limited", or "Ltd".

Trading Restriction

A Cyprus company cannot undertake to the business of banking, insurance or the rendering of financial services to the public unless special permission is granted. Companies cannot trade with resident individuals or companies situated in Cyprus other than in relation to the maintenance of premises, banking and professional services, unless they have special permission from the Central Bank of Cyprus..

Summary & Features

International Business Companies ('IBC's') are companies incorporated in Cyprus under the International Business Companies Act, but whose business is to be conducted outside the Cyprus, and which may not do business with any person resident in the Cyprus.

Cyprus IBC's are a very popular and widely used offshore companies because of their administrative ease, flexibility, extreme low tax status, extensive double taxation treaty network, and the fact that they are widely accepted and understood by the international financial community. Cyprus IBC's may not carry on banking or trust business unless licensed under the Banks and Trust Companies Act, or insurance or re-insurance business unless licensed in the Cyprus to carry on that business. Otherwise, Cyprus IBC's may engage in any activity that is not illegal under the laws of the Cyprus subject to any restrictions in their Memorandum of Association.

OUR Cyprus Corporations Include:

Resident Registered Agent

Registered Office

Nominee Corporate Directors

ALL Original Documents

Apostilles

Cyprus's legislation has long created favorable tax conditions for offshore operations but the country's popularity as such has only caught on over the last few years. Information given to local attorneys/notaries is protected by professional privelege and secrecy.

 

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We offer complete company formation services in the following jurisdictions:

Belize	Costa Rica	Cyprus
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Form a Company and Go Offshore today!

We accept Bank Wire Transfers, Western Union Transfers, Moneygram Transfers, Checks, Money Orders, and Bank Drafts for payment of our services.

Questions? Contact us.