Business Card

• Offshore Companies
• Advantageous fiscality for non-residents
• Banking secrecy
• Official language: Greek, Turkish, English
• Population 2004 : 1,044,327 inhabitants
• Growth rate: 0.55%
• Surface area: 9,521 km²
• Currency: Cyprus pound
• Main city: Nicosia - Capital
• The legal system is based on British common law, which has had additional laws added to it since independence.
• Cypriot lawyers are numerous and efficient. The majority speak English and some even speak French.

Banks
Banks are relatively numerous, numeric and pseudonym accounts are not authorised.
The banking personnel are generally qualified in all types of international financial operations.

Tax
Cyprus offers the best conditions for companies in all economic areas. The island is positively different from comparable nations due to the many advantages which it offers in terms of taxation.
The company formation formalities are uncomplicated; in addition the numerous double taxation treaties make it a strategic location in terms of fiscal advantages.
Within the current international context, the most important aspect of Cyprus is that it is considered to be a country with low taxation, but without in any way being seen as a tax haven by the largest nations, particularly within Europe.
All Cypriot companies have the opportunity of profiting from a large number of fiscal advantages created by the Cypriot government in order to allow national companies to maximise their benefit.
These are consolidated by very low taxation on company profits (10%), as well as complete tax exemption for international business companies. In addition, fiscal advantages are offered in order to encourage foreign investment in local projects and companies.

Advantages of a Cypriot company
Import - Export : If you import products from a third party country, you can publish the invoices using Cyprus as an intermediary, in this way, the profit which has to be taxed in your home country is reduced by taking into consideration the fact that the profits in Cyprus are taxed at 10%.
The products do not even have to pass through Cyprus; your supplier can deliver them directly to you.
This is also valid when you export products or merchandise from your country of residence.

Consulting : A company which is registered in Cyprus can supply consulting services in another country, for example, in England, and be paid for these services. In this way, you can reduce the taxable profit in this country. This procedure is highly beneficial, as the price of consulting activities is a major factor in the decision making process.