Doing Business in Cyprus

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Кипр – крупный международный деловой и финансовый центр. Со вступлением в Европейский Союз (ЕС) Кипр создал благоприятные и динамические условия для ведения бизнеса, в частности, для иностранных инвестиций. Кипром проводится взвешенная и стабильная политика в отношении иммиграции и трудоустройства как граждан ЕС, так и граждан государств, не входящих в ЕС. Налогообложение кипрских компаний, в том числе в процессе реорганизации, весьма льготное, а его правила гармонизированы с соответствующими правилами ЕС.

Cyprus through the years has well succeeded to become an International Business and Financial Centre. Cyprus offers a modern business infrastructure, highly educated English speaking personnel, an attractive and sophisticated tax system, a high standard of living and safe environment to work and live in.

Since accession in the EU, Cyprus has successfully created a dynamic business environment and established itself as the gateway for inward our outward investments between the EU and the rest of the world.

The broad system of treaties for the avoidance of the double taxation gives Cyprus the advantage of popularity amongst global investors. There are a large number of Cyprus business companies whose ownership and activities are outside of Cyprus.

Foreign Investments

Cyprus developments policy is to foster the infusion of foreign investment in all economic sectors for both EU and non-EU nationals. Towards this end, foreign investors may invest and do business in Cyprus in equal terms with local investors.

Foreign investors chose Cyprus for their business because of its favourable and sustainable business infrastructure, its low tax environment, the freedom from exchange controls allowing profits, dividends and interest from legitimate investments and capital gains from the disposal of securities (i.e. shares in investments, bonds) to be freely remitted abroad.

The most common form of business entity used by foreign businessmen and entrepreneurs in Cyprus is the Limited Liability Company, Branch of an overseas entity established in Cyprus and Partnerships (i.e. Limited or General Liability Partnership).

We have a wide range of Cyprus shelf companies so that you can start your business immediately and benefit from the Cyprus tax regime.

Immigration – Working Permits

Upon induction of Cyprus in the EU it has aligned its immigration law and regulations with the acquis communautaire so that it will enable EU nationals and non EU nationals to enter, reside and work in the Republic of Cyprus.

Cyprus – Company Reorganisation

Cyprus has enacted new tax legislation for reorganisation of companies such as mergers, divisions, exchanges of shares and transfers of assets involving companies which are resident in Cyprus and / or companies which are not resident in Cyprus. Cyprus has fully adopted the EC Merger Directive so as to harmonize the Cypriot Tax Law with the acquis communnautaire.

The new legislative regime extends the EU directive to domestic reorganisations, and cross border reorganisations with tax implications in Cyprus. In cases of reorganisation such arrangements will be exempted from corporate income tax, capital gains tax and transfer fees. In this respect the new regime is encouraging and favourable to companies wishing to reorganise their operations with neutral tax liability either within or through Cyprus.

Additional to the reorganisation rules, the Cyprus Income Tax Law provides another set of rules that offers companies substantial tax incentives to restructure their form. More specifically, the organisation of companies through a Group Structure is encouraged. The Group Relief rules provide for group relief of tax losses among companies of the same group, as long as specified conditions are met. Thus, losses may be submitted by a company and, on the making of a claim by another company it may be allowed to set-off the group losses. If in any year of assessment the submitting company has incurred a loss in carrying on a business, the amount of such loss may be set off for the purposes of corporation tax against the total chargeable income of the company which makes the claim.

Источник:

<a href=“http://oxfordcy.com/”>Oxford Tax Solutions</a>