Cyprus IBC for 2021

A Cyprus IBC company is a private limited liability company. As the title says it is an International Business Company. No difference from the common company. 

Cyprus company formation: Our Firm is one of the oldest Law Firms in Cyprus. We have the expertise to make your company formation fast and simple. No fuss. No time wasting. Our Firm has been incorporating companies since 1979!

We can form your IBC company in your absence. There is no need to be present in Cyprus in order to form your company. We can do everything by email and courier. Save your time and money! 

We offer competitive fees. And there are no hidden costs. Our fees are client friendly and competitive while at the same time you get highly professional services. Email us today for a quote! 

All Nominee services for your IBC i.e. Nominee Director and Nominee Shareholder for full confidentiality and tax residency of your company plus Nominee Secretary. The Nominee Persons we offer you are specially trained and they have the experience to assist and support you in your business fast and effectively.

Cyprus company formation in about 6 working days, after approval of your company name by the Company Registrar. You may choose any name you like to submit for approval or choose a name from our pre-approved company names list for saving time. A name will be approved by the Registrar of Cyprus Companies in about 4 tp 5 days!

Bank Account with your IBC company formation. A Cyprus company can get a bank account in any country it chooses. Our Firm is well connected in the Banking sector and can offer you a fast and fuss free bank account for your company either in Cyprus or abroad!     YOU CAN GET A BANK ACCOUNT IN YOUR ABSENCE!

Full Accounting and Auditing services on the formation of your Cyprus company which includes Bookkeeping, Accounting, VAT  declarations filing, Audit and Filing Yearly Accounts. Our Firm also offers you full financial advice and tax optimization schemes. 

EU VAT NUMBER IN ABOUT 48 HRS!  We can get you an EU VAT NUMBER in 4-5 days!  On the registration of your company at the VAT Authority a Cyprus vat registration certificate in Greek is issued. That is sent to you in the company Kit.

Cyprus Company Registration for 2021

Cyprus Company Registration is a term also  popularly used for  the formation of a company, although technically it is the act of the Registrar to register your company in the records of the Registrar of Companies and issue your company certificates.

Cyprus Offshore Company

A Cyprus Offshore Company is a company which does not do business in Cyprus. It is widely used by international investors to carry out their business through Cyprus but not in Cyprus. A Cyprus Offshore Company offers a multitude of tax, legal and administration advantages. A Cyprus Offshore Company can be set up within 4-6 working days by our Firm remotely. It is a private limited liability company. 

See the difference between an international company and a local tax resident company by following this link:   Cyprus Offshore Company.

Cyprus Company Formation – Tax Benefits

Benefits of a Cyprus company for 2021:

1. Only 12.5% corporate tax!
2. 0% tax on the dividends paid out to its shareholders.
3. Only 2.5% tax on revenues from intellectual property rights.
4. 0% tax on dividends received from subsidiary companies all over the world.
5. 0% tax on any profits made by trading in its own shares or shares of other companies or other securities such a forex, bonds, debentures etc.
6. Business bank account in only a few days after its incorporation.
7. The company in Cyprus on its formation, can be logged with the vat authority in 2-4  days.
8. It is an EU company and it enjoys respect all over the world. It is not blacklisted in any country. Cyprus is a low tax jurisdiction and not a no tax, tax haven.
9. After its registration in Cyprus a company enjoys capital gains tax exemptions on sale of immovable properties or other assets, abroad.
10. No contract stamp duties in many occasions.
11. A Cyprus company pays no tax on profits from permanent establishments abroad!

Cyprus Shelf Company

A Cyprus Shelf Company is a ready made company. A company off the shelf. It can be used by investors who are in a hurry to sign a great deal, or to take advantage of a legislation which may be on the way out. A Cyprus Shelf Company has Directors, Secretary, Shareholders appointed. So if you prefer to be one of those positions yourself a change has to be made. A shelf company does not offer you more speed if you want to be appointed yourself Director or Secretary or Shareholder because the changes require a minimum of 15 days. A new company can be set up in about 6 days. However a Cyprus Shelf Company can be used to sign a big contract immediately and after you can make the changes you want. A shelf company if it is older than a couple of years will normally cost you more than a new Cyprus IBC because you will have to pay 490 Euro per year for renewal fees to the registrar. 

Any physical person of age and any legal entity irrespective of nationality can own a Cyprus Shelf company. A company in Cyprus is also called an IBC, or Cyprus IBC which means a Cyprus International Business Company. Follow this link if you want to read more about a Cyprus IBC.

The most common Cyprus company used is a private limited liability company limited by shares, and of course as the name suggests it is of limited liability. That means that its members ( the shareholders) of the company are only liable to the extent of the value of the shares they own in it. The creditors cannot confiscate the personal assets of the shareholders to satisfy debts of the company.

Types of Legal Entities in Cyprus

1.  A private company limited by guarantee.
2.  A private exempt company.
3.  A partnership either general or limited.
4.  A public company limited by shares.
5.  Cyprus sole proprietorship (Law , Cap 116).
6. A non-profitable organization.
7. A Cyprus local or offshore or international trust.
8. A club.

If you want to read more about company formation and the Cyprus company generally Cyprus Company Incorporation is a very interesting article full of technical information.

Services Available After A Cyprus Company Formation

1. Nominee Services-Full Anonymity

Our Firm will provide you with the services of qualified, professional and honest Nominee Director and Secretary to satisfy the legal requirements of your company and to enable you to benefit all those tax advantages when your company is tax resident.

2. Nominee Directors

• Who can act as a nominee director?
• What powers does he have according to the legislation?
• Can he harm my interests? How can I restrict his powers?
• How can I take over his powers?

A Cyprus company can have as many directors it needs. The minimum is one director. There is an answer to all your questions. Let’s take them one by one. Any male or female person of sound mind and of age, who has not declared bankruptcy, can be appointed to act as a nominee of any company in Cyprus. 

The directors can exercise all the powers as those are provided for by the memorandum and articles of association on the Cyprus company registration! 

3. Nominee Shareholders

A Cyprus company can have 50 shareholders maximum and one minimum. A nominee shareholder is usually appointed to provide confidentiality for the real owner of the company. He is a person whom we will use to be the shareholder, in each case that the beneficial owner needs to keep his anonymity. This person again, is one who is closely associated with our firm, and the real owners are persons of the utmost trust, integrity and honesty.

4. The Secretary

A Secretary is appointed as required by the Company Law. A company can have one or more secretaries. Here again, the same questions can be asked for the nominee secretary, as for the other nominees. Again for confidentiality reasons a nominee secretary is appointed. A nominee secretary does not have many. A nominee secretary`s participation in the day to day and the serious running of the business is minimal and peripheral. His powers are formal.