Cyprus Company Formation and Cyprus Bank Account

Considering setting up and operating your own international company? Then consider Cyprus as the jurisdiction to do it. Strategically located in the eastern Mediterranean, it has the perfect location for access to Europe, Asia and Africa. Its pleasant Mediterranean climate of hot summers and mild winters makes it the ideal place to establish a company where you can have everything you need in a beautiful and relaxed setting.

An independent republic since 1960, Cyprus is governed similarly to other western democracies with the emphasis on human rights, political freedom and private property. Their legal system is familiar as it is based on English Law, added to that, Cyprus is a member of the United Nations, the Commonwealth and the Council of Europe, as well as a member of the European Union.

Language isn’t a barrier in Cyprus as although Greek and Turkish are the official languages, English is spoken by the majority of the residents and commonly used in the areas of business and government.

Cyprus has a well established transport system with two 2 international airports and important port connections. It has a good infrastructure already in place and first-rate telecommunications, banking facilities also offer onshore banks, offshore banking units and dedicated financial organizations.

Many companies are attracted to the island as it is well-known for having one of the lowest tax structures throughout all of Europe. A reputable international financial centre, Cyprus has an extensive system of Double Tax Treaties, a first-rate legal and economic infrastructure already in place and these are just a few of the reasons businesses locate their head offices here.

There are known to be over 20,000 international business companies presently resident and operating on the island. Some of these companies are resident with their head office based here, whilst others are non-residents and facilitate local accountants and lawyers as their representatives.

Cyprus currently has the lowest tax structure throughout Europe and this is what makes it so attractive to those seeking the perfect location for their offshore company. It also offers many advantages in comparison to other jurisdictions and is well known as an international financial centre. The government of Cyprus places no difference on the amount of tax paid, regardless of whether it is a local company or an International Business Company. Everyone pays a single corporation tax rate.

Contact CClogic today and start your business

Cyprus Company Formation - Offshore Business

There are many advantages if you are interested in an offshore company formation. The main one is that there are considerable savings to be made in tax, for people working in countries that offer high earning potential this is a major benefit. There is also more privacy and confidentiality with an offshore account. If you don’t want people to know you are the owner of company for any particular reason it is possible to choose others on your behalf to have their names listed for the company. This, of course, won’t affect the control of your business at all. Your operating costs will be lower with less bureaucracy to deal with and added to all these benefits, your personal wealth will grow.

Choosing the right location for your offshore company is an important decision and not one to be taken lightly. You will need to do lots of research beforehand and take everything into consideration before settling on a destination suitable for you and your business. If you are likely to want to visit the location or even have an office set up there you will need to take the travelling time and distance into account as you don’t want be spending excess amounts of time travelling to and from the jurisdiction.

Other factors to consider are the political and economic stability of the country, this is crucial as a country with an unsteady and unreliable economy is not somewhere you should be willing to secure your money. The paperwork involved in setting up an offshore company should be well established and thus be as simple as possible. The accessibility of double taxation treaties are an important aspect as they reduce withholding taxes on the payment of dividends and royalties from contracting states. There should be reliable and trustworthy advisers who can help you with all areas of the offshore business. A good banking system is vital for any offshore company and reliable telecommunications. Lastly, reputation is especially important when it comes to choosing the right jurisdiction as some countries are known as ‘tax dodges’ and should be avoided as they will give your company a bad name.

Once you have made the decision to set up your offshore company in Cyprus there is no need to actually go to the island to register. The company you have employed to set up the business for you will do everything. In fact, if you never want to go to Cyprus at all there will be no need, however it is a beautiful island and worth taking a look for its beaches, climate and friendly locals. Once you pay a visit to the island you might then decide to move here and bring your family. Many companies operate out of Cyprus already but have never been there and they are international and profitable businesses.

There are a range of business activities that are ideal for offshore company formation. Some of the more common include those that deal in imports and exports, International companies dealing in construction and engineering or transport and distribution, real estate companies, shipping companies, commission agents, E-business and holding companies who receive dividends from foreign subsidiaries.

Always seek advice and information from professionals to assist you with your decision making as you should be made aware of any restrictions and reporting requirements.

Contact CCLogic.Com Today to get your company