Cyprus is one of the most reasonable European countries in which to establish an offshore company. Since companies that are set up in Cyprus can receive a European VAT number, they are therefore able to benefit from European VAT reductions and deductions within the European Union.
Cyprus is a full member of the European Union after proclaiming independence from the UK in 1960. Cyprus is in a strategic and well placed location; it can be the connecting bridge to building business between Europe and the Middle East, the Balkans, Africa, and Asia. While the official languages of Cyprus are Greek and Turkish, over two-thirds of the population speak fluent English, making it comfortable for foreign commerce. Additionally, the country currency is currently using the Euro. This makes it especially satisfactory to work with countries that are a part of the EU when your offshore company is based in Cyprus.
Advantages of a Cyprus based company:
- Full membership to the European Union (not considered an overseas territory)
- With only a 12,5 % corporate tax; one of the lowest tax rate in the whole EU
- Non-resident companies (where the director is outside of Cyprus) pay no taxes
- Possibility to register for EU VAT
- Capital gains and dividend income are exempt from taxation
Cyprus is 9,251 kilometers wide, with a population of over one million people. Cyprus consistently attracts companies worldwide for incorporation. Cyprus has the highest percentage of working-age citizens who possess a higher-level education than the entire European Union. This illustrates the general intellectual level of the country. Cyprus has, per capita, the fifth highest private car ownership in the world and continues to grow in affluence with a strong middle class. In recent years, natural gas has been discovered offshore in Cyprus, another fine economic indicator. Perhaps most notable is the sunny and warm weather that Cyprus enjoys up to 300 days a year. All of this combined makes Cyprus an ideal tourist spot and business travel location.
Financial Guardian has incorporated companies in an array of different advantageous venues. Our team of experienced professionals can guide you through all of the necessary steps to open an offshore company in Cyprus or other beneficial jurisdiction.