In 1977 the concept of the international business entity was introduced in Cyprus, and since then (with a population of only 800,000) over 40,000 international business company’s (IBC’s) have been registered here. Also, over 1000 IBC’s continue to maintain fully developed/operational offices here on the island.
Thousands of businessmen and women have elected to register their company here in Cyprus to establish an IBC and utilise the many tax incentives at their disposal, further establishing Cyprus as one of the top international business centres of the world.
Regarded as a prestigious low tax jurisdiction, Cyprus remains a reputable, trusted solution for international business worldwide. Here it stands apart from other notorious low tax jurisdictions, exempt from the suspicion sometimes interwoven with offshore jurisdictions. In Cyprus, there are no longer any recognised distinctions between offshore and local companies; any company registered in Cyprus enjoys a tax rate of 12.5%, still the lowest rate in Europe with additional tax incentives for foreign investment. When Cyprus joined the EU in 2004, monetary control restrictions were dismissed. As a result, investors are free to transfer money into Cyprus, and free to transfer money out of Cyprus without being restricted.
To utilise the many advantages of registering a company here in Cyprus, you are strongly advised to prepare an international tax plan and corporate structure, positioning yourself (and your company) for lasting tax efficiency.