Cyprus is a very popular choice for businesses to open Cyprus International Business Companies or IBCs (formerly known as 'Cyprus offshore companies') due to its generous tax incentives and membership of the European Union.
Cyprus joined the EU in May 2004 and this, combined with its strategic location at the crossroads with Europe, the Middle East, Africa and Asia, has made it a perfect location for international business companies.
Its double-tax treaties are particularly beneficial and the further advantages of Cyprus as an offshore jurisdiction include:
- tax benefits
only 12.5% tax rate for companies. Cyprus has one of the lowest tax regimes in Europe.
the shares can be held by nominees so that your anonymity is safeguarded
- excellent infrastructure
with professional accounting, legal (primarily based on English law) and banking services of a very high standard as well as a very advanced telecommunications network. Cyprus has two airports, in Larnaca and Paphos, providing frequent flights to many destinations, serving a number of international routes.
- fabulous climate
with 340 days of sunshine per year, with long, hot summers and short, mild winters
- high standard of living
with excellent, relatively cheap health care and spacious housing, a beautiful landscape, combining the sea and the mountains