As a matter of fact, Cyprus went to be blacklisted as a fiscal haven to a legal offshore destination for business, by the OECD. At that moment, the government decided to impose a corporate tax rate of 10%, which still is the lowest in Europe.
The Island business philosophy is mostly orientated towards free enterprise and encourages new entrepreneurs to create or expend business (company incorporations are soaring at exponential rates) by the means of fiscal policies and regulations laid out by the Cypriot government in order to generate wealth.
Thanks to its strategic location – Mediterranean island situated 328 km west of Israel and 65 km south of Turkey – Cyprus has become a major container business hub that encourages foreign investment.
Its legal system is based on the Common Law, the country is politically stable and although Greek is the official language, English is widely spoken and used in business and on most official documents. Cyprus is a full member of the EU since 2004 and the currency is the Euro since 2008. Its population is a little over 800 0000.
Whatever your outlook may be, Cyprus offers modern legislation for offshore solutions. A registered Cypriot Company may be an interesting new product for many asset protection clients, and will offer the following advantages:
Corporate tax rate of 10%.
Cyprus VAT rate of 15%
No tax on received royalties, interests and dividends
Network of double taxation treaties
The formation and the maintenance rates for a company in Cyprus are competitive
Total discretion with the legal use of Nominee Directors and Trustee Shareholders
Check at Amedia Cyprus website for more information: