Cyprus is the third biggest island of the Mediterranean sea at the crossroads of Europe, Asia and Africa. The name Cyprus
has derived from the ancient Greek world for copper. It's capital is Nicosia (Lefkosia) and Cyprus has been a member of
the European Union since 1st May 2004. It enjoys long and warm summers and mild winters. Greek and Turkish are the
official languages on the island but English is also widely spoken.
Cyprus perfectly combines business with relaxed lifestyle, tradition with cosmopolitan lifestyle. Cyprus can be ideal for a businessman, a tourist, or someone seeking a quality life in a beautiful and safe environment.
With perfect climate, natural beauty, endless beaches with golden sands, an impressive mountain called Troodos, the legendary birthplace of Aphrodite (the goddess of beauty) can capture your heart with the hospitality of it's people, the friendly atmosphere and it's delicious Cyprus cuisine!
The law for companies is based on the English Companies Act of 1948 under which the following entities may be registered:
A company may be registered under the Companies Act. The majority of companies in Cyprus are limited liability companies. Limited companies are subdivided into: public companies and private companies.
Governed by the Partnerships and Business Name Law can be divided into the following two types:
- General Partnership
- Limited Partnership
Branch of a Foreign Company:
These can operate as subsidiary companies incorporated in Cyprus or as branches of the foreign company.
Individuals who chose to run their business on their own account. Audit of their annual accounts is not required -provided their turnover does not exceed the amount of 70000 annually- and they are eligible to income tax for profits incurred by the business.
Cyprus International Trust:
Incomes and profits of a Cyprus International Trust are not subject to taxation in Cyprus.
Cyprus is a very competitive, tax efficient and stable environment for investors. Cyprus also offers all kinds of services, such as advisory, legal, banking, accountancy, to support a new investor.