Tired of “greedy” tax systems of some countries that decrease your profit? Looking for the right place to run your business? Then Prospectacy Ltd is right what you need. The country in which you decide to start your business, in fact, serves a breeding ground for your later achievements. Thus, it is of utmost importance to choose the country that will be the best fit for your company. If you want to run a successful and prosperous business, we say “just go for it”; go to Cyprus. We are here to help you with your Cyprus company formation.
There are certain things you should know and consider before forming your company in Cyprus. In other words you should be aware what Cyprus can offer you.
One of the reasons, which makes Cyprus an excellent place for your company formation is the fact that it is considered to be among the most suitable and attractive jurisdictions in Europe, as it has advantageous tax system for limited liability companies. With its current legislation, Cyprus offers one of the lowest tax systems in the European Union, which increases its role as a financial center. The extensive double tax treaty network makes Cyprus ideal for any kind of investment. It has one of the lowest tax rates in the European Union at 12.5%. Another advantage of tax system of Cyprus is that most international transactions are free of VAT. This means that you can make transactions without paying value added taxes that are charged in many other countries. Unlike the above mentioned “greedy” tax systems, Cyprus has the one that charges companies based on their income accrued. Also there is no withholding tax on dividends and no capital gains tax.
There are certain requirements your company has to meet, In order to be formed in Cyprus. It should have;
- At least one shareholder (If the future owner of the company requires complete anonymity, then your company can be provided with nominee shareholders)
- At least one executive and secretary (In the case of international companies, it is important, both for tax and for administrative purposes, that the management and control of the company are carried out in Cyprus.
- Legal address (this can be the real office you rented or just any other the legal
- Tax number, which must be indicated on all accounts of the company.
It is also recommended for the authorized and issued share capital of the new company to be at least 1,000 shares, at 1 euro each share. Payment for shares is not required. The number of shares can be changed for a nominal fee. You can run your business in Cyprus the same way as you would do it in your country; companies in Cyprus may have 100% foreign capital.
Taking all these facts and many other advantages into account we will help you in the formation of your ideal company in Cyprus.