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Registration and activities of offshore companies / Offshore Cyprus
Since 2002, Cyprus applies to jurisdictions with preferential tax treatment, with the lowest corporate tax rate in the EU. Cyprus has a double tax status. This means that, depending on the purpose of companies, they can be both resident and non-resident, which is very important for tax planning. At the same time, and the existence of agreements on avoidance of double taxation with more than 40 countries, Cypriot companies are effectively used in international tax planning.
Company name
Sompany Private Limited by shares - a private company with limited liability. According to tax status: resident and nonresident. Registered on the basis Companies Law, Cap. 113 (as amended).
Greek, Latin alphabet. The name must end with the word Limited or the abbreviation Ltd.
Special permits are required titles that contain the words: Bank, Insurance, Assurance, Savings, Trust, Capital, Finance, Credit and others.
Charter capital
Standard authorized capital of 1 000 EUR.
There is no requirement of obligatory payment and minimum and maximum size.
Registered shares of par value.
Bearer shares are prohibited.
Financial report
It must be certified by an auditor, which has a corresponding right to conduct an audit of Cypriot companies. Each year, submitted to the tax department and the Central Bank of Cyprus.
For late filed reports accrued significant penalties.
Exchange control and currency regulation no.
Income tax for all companies, is - 10%.
There is a tax on the defense with differentiated rates.
Return on capital gains tax, property tax, dividends and interest received, not taxable (non-residents).
The new tax on active company - 350 Euro per year shall be paid to the Registrar of Companies.
VAT - 15%.
Agreement with Ukraine: the avoidance of double taxation.