Cyprus

Registration of the Cyprian companies. Complete legal support

GLENIC INDUSTRIAL S.A. is a command of skilled lawyers and advisers on corporate and tax law, capable to grant the client qualitative and reliable service.

Our company renders competent help to businesses and individuals, wishing to open the company on Cyprus.

Recent entry of Cyprus in the European Union and the subsequent tax reforms have led to the fact that now this country cannot be an offshore zone in the pure state any more as it was considered to be earlier. Though, taxation level remained the lowest in Europe. But nevertheless there was a weight of possibilities for conducting successful business on Cyprus and also to use the Cyprian companies as the instrument of international tax planning.

There are two kinds of companies on Cyprus:

  • If the company is controlled and managed in territory of Cyprus the company is considered the resident. Accordingly, the profit tax at a rate of 10 % takes place. But there is also an advantage; there is possibility of use of agreements of dual taxation avoidance.
  • At management and control out of territory of Cyprus, the company is considered the non-resident. Here there exists obvious advantage in clearing of all taxes for the company and possibility to use it as the offshore.

Vital information:

  • Each company registered on Cyprus is obliged to pass audit and to lead the reporting.
  • In territory of Cyprus currency exchange regulation (possibility to repatriate profit in any currency) does not operate.
  • At company registration disclosure of information about beneficiaries is required.
  • On Cyprus there are no other taxes for the companies, except as profit tax. But, if the company, being on Cyprus, carries out sales to residents of Cyprus there is a VAT at a rate of 0-15 %.
  • The Cyprian company can implement activities of any kinds, except that which require licensing.

The task of our experts is to pick up the optimum company meeting the requirements of the customer and considering its business process at the minimum costs.

Services

  1. 1. Certificates. Documentation. Apostil. Balances. Audit.
  2. 2. Registration of the Cyprian companies. Complete legal support
  3. 3. Consultation concerning bank service, principle of work of the company, kind of activity for clearing and settlement
  4. 4. Purchase/ sale/lease of real estate - from apartments of an economy class to Luxuries Class Villas
  5. 5. Banks of Cyprus. Opening of accounts for businesses and individuals
  6. 6. Visa support
  7. 7. Study on Cyprus: Seminars, courses of improvement of qualification, briefings.