Cyprus - LTD
The main feature of Cyprus company is that it is European company with a limited liability (LTD), which is regulated stable legislation that meets the requirements of EU and is supported by agreements on avoidance of double taxation with 45 countries (recently entered into a new with Ukraine), i.e. fully transparent and legitimate business with the following characteristics:
Main advantages of offshore company in Cyprus:
- Cyprus is ideal for registration of a holding company as dividends are not taxable, regardless of their source.
- The Cypriot jurisdiction is ideal for traders in securities - securities transactions in Cyprus are exempt from tax on capital gains and from income tax regardless of whether such transactions are normal commercial activities of the company, or have an investment nature.
- Cyprus is very attractive for any trading and intermediary companies through its lowest in Europe, size of corporate income tax 10% and value added tax (VAT, VAT) 0-15%, plus Cyprus has an extensive network of conventions on the avoidance of double taxation, inmates with more than 45 countries.
- The ability to quickly obtain (3-5days) VAT (VAT) number, which facilitates trade within the EU.
- The high degree of privacy - because use of nominee shareholders and directors is permitted and the true owner of the company does not appear in the official sources.
Features of offshore in Cyprus:
- Every Cyprus company must maintain proper accounting records and present financial statements in accordance with existing legislation, followed by conclusion of a licensed auditor. According to the Cyprus tax legislation, every company is required to file an annual declaration of income tax revenue. In addition, each year financial statements prepared and annual return written in Greek to be issued into Register of Companies. Document translation services are provided by local consultants at minimal rates.
- Without appropriate licenses, are not allowed to use the following words and their derivatives in names of companies: Asset Management / Manager, Assurance, Bank / Banking, Broker / Brokerage, Capital, Credit, Currency, Custodian / Custody, Dealer / Dealing, Deposit, Derivative, Exchange , Fiduciary, Finance / Financial, Fund, Future, Insurance, Lending / Loan / Lender, Option, Pension, Portfolio, Reserves, Savings, Security, Stock, Trust / Trustee. For guidance on the legal form of the company (limited liability) in the title’s end can be used "Limited" or the abbreviation Ltd.
Registration
- The founders - to register a company there must be at least one director, one shareholder and one secretary. Usually the director and secretary are of the nominees - residents of Cyprus. A shareholder may also be nominal face.
- Time for registration of Cyprus offshore is 12-15 business days. A complete set of documents comes within - 6-7 weeks and usually contains the following:
- Certificate of Incorporation in Greek, as well as its translation into English.
- Memorandum of Association and Articles of Association, signed by the first members of the company (Subscribers), in Greek, as well as its translation into English.
- Certificate, confirming the legal address of the company issued by the Register of Enterprises.
- Certificate, confirming the appointment of directors and company’s secretary, issued by the Register of Enterprises.
- Certificate, confirming the list of shareholders of the company, issued by the Register of Enterprises.
- General Power of Attorney, signed by the nominee directors, specified for the definite beneficiary after buying the company.
- Agreement for management of a company by nominee officers and indemnification of nominees.
- Share Certificates, signed by the Nominee Directors.
- Company’s stamp.
Necessary documents to purchase / offshore in Cyprus:
- A copy of passport of the beneficiary (the company owner).
- Information about the place of residence of the beneficiary.
How to buy / register your offshore company in Cyprus?
- Call us and arrange a meeting with a representative of LTSS International in your city.
