The registration procedure for a non-resident company. The advantages of this service for your business.
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Jurisdictions: Cyprus*
Basic information about the jurisdiction of Cyprus
Legal form | Limited Liability Company |
|---|---|
Shareholders | At least 1 (one) shareholder: natural or legal person - residents of any country; |
Directors | At least 1 director: natural or legal person –
residents of any country; |
Secretary | A natural person, a resident of any country |
Share capital | No minimum size and payout requirements. |
Capital tax | 0,6% |
Shares | Shares can be only registered |
Company Registry | Information about directors, shareholder, secretary is public.
Information about beneficiary is closed |
Annual registry duty | EUR 350 |
Taxation | Corporation tax - 12.5% on total world income |
VAT | 19% |
Defence tax | 17% for dividends (under certain conditions), 30% for interest income (under certain conditions) |
Taxation of interest | Incoming interest on profit is subject to a standard rate of 12.5%, provided that getting such income is the main activity of the company. If getting interest is not the main activity, then incoming interest on profit is subject to a 30% tax on defense. |
Dividend taxation | Incoming and outgoing dividends are not taxable in Cyprus. The exception is the fulfillment of two conditions simultaneously: - more than 50% of the gross income of the company paying dividends directly or indirectly are derived from investment activities
- effective tax burden of the company distributing dividends is significantly less than the tax burden of the company receiving dividends.
In this case, dividends are subject to a 17% defense tax. |
Royalty taxation | According to the provisions of the law, eighty percent (80%) of the profits from the use of the objects of intellectual property (including compensation for illegal use), as well as 80% of the profits from the sale of such objects is considered as an expense for the purposes of taxation
An expense of 80% reduces profits, after deducting all direct costs, including depreciation, interest on loans raised for the acquisition and development of objects of intellectual property, as well as other direct expenses |
Tax on repatriation from Ukraine | - Dividends - 5% if the parent company owns at least 20% or invested at least 100,000 euros, 15% in other cases; - Interest on loans - 2%;
- Royalty - 5% when using copyright to scientific works, patents, trademarks, secret formulas, processes or information regarding industrial or scientific experience |
Benefits | ● Developed legal system ● Flexible taxation ● EU country ● Extensive experience working with non-residents, customer focus ● Price-quality ● Ability to realize the real substance ● Ability to open an account in the country of incorporation ● Ease of working with documents and registration procedures ● Developed sector for registration and maintenance of companies and trusts. |
Reporting | The audit report and tax returns are filed once a year for the period from 01.01 to 31.12. |
* This information is informative, its use in practice requires additional advice on your individual business situation.