7 advantages of Cyprus for business registration in 2020
Cyprus is not a classic offshore. It complies with the requirements of the European Union, has a good business reputation, and continues to be the most demanded jurisdiction among foreign entrepreneurs as before. It is possible to open an offshore company in Cyprus in 2020 without a personal presence and in just a few days.
Reasons to choose Cyprus for establishing a company
The island has an excellent location and has good transport links with Europe and Asia. Cyprus has an excellent infrastructure and a loyal legislative system. There are other advantages allowing the jurisdiction to be in the top of the countries most demanded among foreign investors.
- Registration of a business takes 5-7 working days, it can be conducted online, as well as the subsequent management of the firm. The minimum size of the registration share capital is not fixed by law; companies have full freedom of action in this matter. On the island, it is not prohibited to use the nominal service, and obtaining a tax number of the firm takes only two days;
- Developed banking and financial sector. The banking system of Cyprus allows the management of corporate accounts from another country through specialized Internet services. Holders of current accounts of organizations can issue corporate cards and "tie" them to their personal accounts;
- Loyal tax policy. Despite the fact that the jurisdiction has long been tax-free, registration of an offshore in Cyprus in 2020 may become one of the best business solutions for entrepreneurs. The island's tax system is very flexible and allows minimizing costs. The single income tax is only 12.5%, it is one of the lowest rates in Europe. Operations with securities and real estate are not subject to mandatory fees at all. In addition, Cyprus has signed double tax treaties with most developed countries;
- The profitable program "citizenship for investment". Now the Cypriot authorities are actively developing an economic citizenship program, so the total amount of investment in the country's economy, necessary to obtain an EU passport, has decreased from EUR 5 000 000 to EUR 2 000 000. In addition to that, now, in order to obtain citizenship, you do not have to participate in a collective investment program;
- Cyprus is not on the EU "black" and "grey" lists, so an organization registered on its territory will have a positive business reputation and loyalty from partners and customers in advance;
- High standard of living of the population and low cost of living by European standards. By registering a company in Cyprus, the entrepreneur gets a good base of potential solvent clients, combined with low rent and utility costs;
- The possibility to "transfer" an existing company from the jurisdiction in which it was established to Cyprus. Such a service is not very popular among foreign businesspeople, and, nevertheless, remains in demand for companies that value their history and reputation.
You can get detailed advice on the cost and conditions of company registration in Cyprus 2020 from qualified IT-OFFSHORE specialists. We will be glad to offer you not only information assistance, but also mediation services to support transactions abroad.