Cyprus IBC Company Formation
Cyprus International Business Company (IBC)
Overview of a Cyprus IBC
Cyprus offers numerous opportunities for international investors looking to form an offshore company in the European Union. Whether for investment, as a holding company or for trading purposes, Cyprus has over fifteen different company formation vehicles in a jurisdiction that has a long history of international finance.
The most popular company offered is the Cyprus IBC and is appropriate for those residing outside of Cyprus and who would like a private company with a non-residential status.
About Cyprus IBCs
Since Cyprus’ induction into the European Union, its financial vehicles have gone through many changes so as to make it conform to EY legislation. It has managed to remain sufficiently autonomous while reaping many of the benefits gained be becoming an EU member.
Cyprus continues to provide offshore company formation opportunities, but now the industry exists without the negative associations of being an offshore tax haven. Since its entry into the EU, all Cyprus companies now get the added benefit of having access to the European Union’s numerous economic, trade and legislative agreements, all in a legitimate and traditional financial centre.
Key Corporate Features of a Cyprus IBC
|Cyprus LLC||Corporate Details|
|Type of Entity||IBC|
|Type of Law||Mixed legal system (Common and Civil law)|
|Governed by||Companies Law CAP 113|
|Registered Office in Cyprus
|Shelf company availability||Yes|
|Our time to establish a new company||5-10 Business days|
|Minimum government fees (excluding taxation)||€400|
|Corporate Taxation||No (residence-based tax 12.5%)|
|Access to Double Taxation Treaties||No (residence-based access)*
|Share capital or equivalent|
|Standard currency||Euro €|
|Permitted currencies||EUR, USD, GBP, CYP|
|Minimum paid up||No minimum|
|Bearer shares allowed||No|
|No-par-value shares allowed||No|
|Publicly accessible records||Yes|
|Location of meetings||Anywhere|
|Corporate directorship allowed||Yes|
|Publicly accessible records||No|
|Corporate shareholders allowed||Yes|
|Location of meetings||Anywhere|
|Local or qualified||No|
|Requirements to prepare||Yes|
|Requirements to file accounts||Yes|
|Publicly accessible accounts||No|
|Recurring Government Costs|
|Minimum Annual Tax / License Fee||€350|
|Annual Return Filing Fee||€60|
|Requirement to file annual return||Yes|
|Migration of domicile permitted||Yes|
Advantages & Top Uses of a Cyprus IBC
- Cyprus is a member of the EU
- Cyprus has access to a number of EU conventions and agreements
- Taxation is 0% for all non-resident companies
- Single member ownership is permissible
- Geographical proximity to Europe
- Nominee services are available
- Companies Act modelled after the UK
- Perfect international vehicle for trading or as a Cyprus holding company
- New migration of domicile laws
- Any nationality and resident of any country (except Cyprus) can form a non-resident LLC
- Uncomplicated formation requirements
- Located in the temperate Mediterranean
- English is widely spoken
- Trading Company
- Holding Company
- International Investment Company
- Tax planning vehicle
- Professional Services
- Copyright and property holding
Cyprus IBC Offshore Company Formations
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