about Cyprus companies The low taxation of the profits of Cyprus companies and the Bank accounts non-disclosure law, has made Cyprus companies very attractive to many businesses from abroad Currently there are over 420,000 registered companies in Cyprus, many (70%) from clients abroad. Clients may divert part or all of their international income to their Cyprus company or provide services to their companies abroad from their Cyprus companies. Additionally, with proper tax planning they can pay low local taxation. With a local bank account, clients may control their money with internet banking and spend it or withdraw it anywhere abroad. establishing a company in Cyprus COMPANY REGISTRATION (includes the following)→ Certificate of Director(s) & Secretary→ Certificate of Shareholder(s)→ Certificate of Registration→ Certificate of Registered office→ Certificate of Good Standing→ Memorandum & Articles of Association→ Nominee Directors / Secretary / Shareholders→ Registration for V.A.T→ Registration for Taxation→ Registered office COMPANY ANNUAL FEES → Vary depending on the volume of the work. → The fees include nominees, filing of Annual Return and company accounts with the Registrar of Companies in Cyprus and with the Tax Authorities. dpca business center OFFICE & OTHER SERVICES PROVIDED 1. Mailbox accepting and forwarding mail on behalf of clients. 2. Company Registered Office. 3. Nominee Director(s) / Secretary / Shareholders 4. Renting an existing office consisting of a separate room, sharing with one other office a conference room, bathroom and kitchenette. 5. Virtual Office facility. 6. Designated Cyprus e-mail address. 7. Cyprus tax residency for individuals. 8. Opening of bank accounts at local banks. 9. Company formation in Cyprus, UK, U.A.E, the Caribbean and other jurisdictions. why choose Cyprus? TAX ADVANTAGES → Lowest corporate tax rate (12½%) in the E.U. → Double taxation treaties with more than 41 countries. → Dividends payable from profits of Cyprus Companies to non residents are tax free. → Holding companies, if properly structured, can escape taxation all together. → Non resident companies are taxed only on the income derived in Cyprus. → There is no capital gains tax on the gain from the sale of shares in Cyprus companies both private and public. → Capital gains tax is payable only on the sale of immovable property in Cyprus or on the sale of shares in a company that owns immovable property in Cyprus. → Low National Insurance contributions that lead to Cyprus Tax Residency for European individuals. → Excellent company tax group relief and carried forward losses legislation. → First €19,500 of the annual salary of resident individuals is tax free and above that is taxed on a scale from 20% to 35%. → No inheritance tax exists. Other Advantages → The bank accounts non-disclosure law, has made Cyprus companies very attractive to many businesses from abroad. → Through the “Practice of Nominees”, the true identity of the company directors and shareholders can be shielded. → Is a member of EU and euro is used as currency. → Strategic geographical location. → Democratic country with a stable government. → Excellent climate and crime free living conditions. → English language widely used. → Skilled professional staff at all levels.