As you already know Cyprus has the best Corporate Tax system in Europe and one of the most straight forward Corporate Legal system.
But something tells me that you are not part of it and you want in.
If not let me explain you,
Why You Should Setup a Company in Cyprus
Business-Friendly – some of the lowest Corporate Tax in Europe – 12.5% on its net revenues.
Dividend participation exemption. No withholding taxes on dividend, interest and royalty payments abroad.
Personal tax exemptions for new residents and non-domiciled individual. DTT with more than 60 countries.
EU company – do business in Europe or any other country in the world without any restrictions.
No thin capitalization rules, no exchange controls and no capital gains tax (except on real estate in Cyprus)
No tax is paid on any profits made by trading in its own shares or shares of other companies such as stocks, bonds etc.
Legal requirements for Cyprus company formation
a. Drafting of the Memorandum and Articles of Association in Greek/English
b. Affidavit before the Registrar of the Court confirming that all the provisions of Law were fulfilled in connection with the establishment of the Cyprus Company.
c. Preparation of the relevant Forms with the personal details of the Shareholders, the Directors and the Secretary of the Cyprus Company.
d. Preparation of the Relevant Form with the Registered Office Address of the Cyprus Company.
e. Filing of the Memorandum and Articles of Association along with the other Forms and documents with the Registrar of Companies for the registration of the Cyprus Company.
f. Filing application and payment of acceleration fees to the Registrar of Companies for the acceleration of the registration of the Cyprus Company.
g. Issuance and collection from the Registrar of Companies of the following documents:
- Memorandum and Articles of Association in Greek certified by the Registrar of Companies.
- Memorandum and Articles of Association in English certified by a lawyer.
- Registration Certificate.
- Certificate of the Registered Office of the Cyprus Company.
- Certificate of the Shareholders of the Cyprus Company.
- Certificate of the Directors and the Secretary of the Cyprus Company.
h. Conduct of the First General Assembly of the Cyprus Company.
i. >Drafting of the minutes of the First General Assembly of the Cyprus Company.
j. Preparation of the Shares Register of the Cyprus Company (maximum 1000 ordinary shares at €1 each. No need to be paid by the shareholder/UBO).
k. Preparation of the Officers Register of the Cyprus Company.
l. Round Rubber stamp
m. Drafting of the following documents, as applicable:
- Declaration of Trust signed by the nominee(s) shareholder(s).
- Letter of Indemnity of the beneficial owner confirming to the nominee(s) shareholder(s) and director(s) that he will not violate the Law or use the Company in any wrong or illegal way.
Why PHS
At PHS & Partners, we pay the highest attention to every case and need through personal approach in helping companies and individuals.
PHS & Partners is a leading tax firm in Cyprus, supported by a team of qualified tax experts. The firm is recognised for in-depth knowledge in Cyprus and international taxation, particularly with respect to corporate tax, personal tax and VAT.
Testimonials
No business can succeed without the right tax advisory and that's why every company looks for the best auditor in the market. PHS is proudly the tax advisor of 24 companies I personally manage in Cyprus including Plus Properties. They are always able to provide us with extra assistance and what is very important, Philippos Hadjizacharias leads a team of professional people that are highly qualified. Keep walking Phil.
It is our pleasure to recommend the audit firm PHS & Partners Ltd. in Cyprus to anyone who is looking for professional accounting, tax and audit services. We have been working with PHS & Partners Ltd. on several projects, and we have been very impressed by the courteous and professional service we have received from all their staff. The staff at PHS & Partners Ltd. is always professional, very timely in their responses, and very helpful. In addition to providing excellent accounting, audit and tax services, we have been delighted that PHS & Partners Ltd. thoroughly understand the complex business structure and requirements of the clients. We are looking forward to a long term relationship with PHS & Partners Ltd
I came across PHS through a friend some three years ago. From the first meeting with its CEO, Mr. Philippos Hadjizacharias, I realized I was dealing with an authority in accounting and auditing. With the passage of time our professional relationship has flourished into a personal friendship. Not only do Mr. Hadjizacharias and his formidable team display a high degree of expertise, but they also lend me an attentive ear every single time I need assistance or advice of whatever nature that might be. If I were to sum up the profile of PHS, I would use five simple words: professionalism, efficiency, reliability, discipline and integrity. I unreservedly recommend PHS to every entity wishing to conduct successful business in Cyprus.
With reference to audit firm PHS & Partners Ltd. In Cyprus we would like to confirm that we have worked with them on a number of projects. We have always been impressed by the team’s expertise and understanding of different type of businesses. They have a personal, proactive approach to guide us and our clients with respect of various tax and accounting issues. We would have absolutely no hesitation in highly recommending PHS & Partners Ltd. for anyone looking for tax, accounting and audit services.
We Provide
- High quality standard of services to every company irrespective of size and type through our legal and corporate specialists.
- We enable our clients to focus on strategic issues, decisions and their most profitable core activities while we take care of all administrative tasks associated with their local companies.
- Assistance from commencing of activities to finalising monthly and year-end reporting and to meet both internal deadlines and territorial legal requirements.
Services Selection
Setting up a company in Cyprus or in any other jurisdiction is a hard task, especially when the beneficial owner is not a permanent resident in the country of incorporation. PHS & Partners’ experienced professionals provide clear instructions and guidance about the pros and cons of each jurisdiction, while handling every step of the process in the most effective way.
Our goal is to turn our clients’ tax into investment, and we are proud that we have successfully managed to achieve this constantly throughout the years.
Being one of the leading firms in the market, our aim is to constantly provide our clients with unparalleled quality services. Our experienced auditors provide real value to our clients businesses thus underpinning investors’ confidence.
Cyprus as a member of EU, adopted the International Financial Reporting Standards (IFRSs) for the financial accounting and reporting. At PHS & Partners we provide Cyprus entities with unparalleled quality Accounting and VAT services to comply with the IFRSs.
PHS & Partners’ consulting team offers professional services and advice suitable for every kind and size of business and individuals. Our aim is to deliver exceptional proactive consultation that adds value to our clients.
Tax investigations are complicated, intensive and require experience and knowledge. Our team of professionals will help reduce your tax and penalty liabilities by up to 75% assisting you on every step of the process.
The most important issue faced by companies all over the world is Substance.
Our team of professionals will guide and assist you through every step of the process in order to help you in the best possible way.
If you want to work with professionals who provide exceptional quality standards of services in Cyprus, the simplest way is to fill in this contact form.
We will analyze your case and advice you on:
- What company structure suits you best,
- What is the best Tax solution(s) for your business,
- What Banking and cash flows arrangements available.
We will take you through a step by step process from A to Z in creating the perfect business in Cyprus.
Can’t wait any longer? Fill in the form and submit your inquiries make your first step and we will deal with the rest.
Become even more successful by working with accountants you can count on and be among the thousands that already did.
If you want to work with professionals who provide exceptional quality standards of services in Cyprus, the simplest way is to fill in the contact form below.
We will take you through a step by step process from A to Z in creating the perfect business structure in Cyprus.
Can’t wait any longer? Become even more successful by working with accountants you can count on and be among the thousands business that already did.