Cyprus Tax Haven
Many think of Cyprus as a Tax Haven. The Cyprus Tax Haven status is very different from the so called Tax Havens of other jurisdictions! What is a Tax Haven by definition? A Tax Haven is a country in which an offshore company operating from its soil doing business only abroad (Offshore) is not taxed in any way. It has a zero tax environment. It also does not require offshore companies to keep books or to file yearly audited accounts. In other words these companies are not regulated or checked by any authority.
Cyprus is not a Tax Haven in this respect, as it has a corporate tax rate of 12.5% for companies registered in Cyprus which operate from its soil but curry out trade offshore and its revenue sources are all abroad. They are also required to keep books and to file audited accounts every year. In another angle of view Cyprus can be a Tax Haven in that the 12.5% corporate tax is a very favorable tax rate indeed and it is one of the lowest in the EU. This Cyprus Tax Haven status is legal and respectable, unlike other Tax Haven jurisdictions which are on blacklists or in special lists of many countries as uncooperative and under scrutiny or even investigation!
Benefits of Cyprus Tax Haven
Despite the fact that some media want Cyprus out of the way this is not going to happen. Cyprus Tax Haven will be there to assist international Entrepreneurs like you to plan their international tax in a fair and wise way keeping their profits and not giving it up to the insatiable governments. TheCyprus Tax Haven status is a very attractive tool for you and it can be the power tool for your drive to success, as Cyprus is a member state of the EU and has an extensive Double Taxation Treaties with many European and other countries whose benefits are very rich for all using the Cyprus Tax Haven status. As already indicated in the Cyprus Tax Haven environment the corporate tax rate is only 12.5%, but that is not all. The Corporate Tax on Dividends is 0%! It also offers a 0% Tax on revenues from trading in Securities, and only 2.5% tax on the revenues from Intellectual Property. It also has 0% Capital Gains tax on all properties and assets owned and liquidated oversees! And many more tax incentives…
The Cyprus Tax Haven advantage is also magnified by a very well organised Company Registrar environment. A Cyprus offshore company can be incorporated in only 4 days, it can have a bank account open in only a few days, it can have an EU Vat number in 2 days, it can be registered with the Income Tax authorities in 2 days. The benefits of the Cyprus Tax Haven status are without end. For information on how to register a company in Cyprus and benefit of the many tax benefits please follow this link: Cyprus Company Registration.
In other EU countries the above are not so easy. It could take you weeks, to incorporate a company and many thousands of Euros more, it could take up to a month to get a vat number and it could certainly take you 3 months to open a simple company bank account, and you may even not get it in some countries. What about the taxes in other countries. In Denmark the tax can reach 95% in cases of high earners! In other European countries corporate tax coupled with dividend tax can be anything of between 40% and 67%. So the Cyprus Tax Haven status is very attractive. Make the right choice and the correct decision for your business success.
Don`t listen to the usual media which present themselves as the financial gurus of the planet, only to drive panicked businessmen to their own countries. These media are not independent, there are under the guidance of their governments! They are not looking out for your business success they only want your money in any way they can get it.
The Cyprus Tax Haven environment can offer you peace of mind and a respected jurisdiction from which to launch your international business without the drag of black lists or uncooperative countries` complications.
A Brief Run Down of the Advantages of the Cyprus Company:
- It can be incorporated in 4 days
- It is a limited liability company
- It can be Tax Resident with only one local Director
- It cost much less to incorporate than a French, Italian or German Company
- It pays only 12.5% tax
- It pays 0% tax on dividends
- It pays 0% tax on revenues from securities
- It pays only 2.5% tax on revenues from IP.
- It pays 0% tax on profits from the sale of assets abroad.
- It pays 0% on profits from permanent establishments abroad.
- All it documents can be in English
- It can have a bank account in Cyprus without any problem in a few days
- The Vat Tax rate in Cyprus is still one of the lowest it the EU.
- Low yearly maintenance costs.
Visit our Cyprus Tax Rates page to see how advantageous is a business set up in Cyprus. The advantages go on and on…