Cyprus continues stronger than ever before to be a preferred international business center, from where foreigners can conduct their international business.
Recent international and domestic developments have created new dynamics for the Cyprus choice. In addition to setting up new Cyprus companies, now there is an increased momentum for those who decide to relocate (redomicile) their existing foreign companies to Cyprus, where they can also effectively and efficiently establish all the needed operational substance and exercise the proper management and control. Further than that, there are even those who decide to establish or relocate their main or regional headquarters, of any scale, to the island.
Who should consider Cyprus?
- Those wishing to operate from a friendly, tax efficient, cost competitive and practical jurisdiction.
- Those wishing to create an entry point into Europe.
- Those wishing to interact with certain non-EU countries with which Cyprus is considered to have one of the best double tax treaties (e.g. Russia, Ukraine, South Africa and India).
- Those who expect BREXIT to affect their UK based business that conducts international activities.
- Those who are adversely affected by the recently introduced offshore substance requirements.
- EU member state that is fully compliant with all international guidelines and regulations.
- Tax system that is attractive, practical, efficient, stable and tested (whether that is for holding, financing, IP, shipping, services or trading activities).
- Wide double tax treaty network and access to relevant EU Directives.
- Legal system based on Common Law and Principles of Equity (which is easily understood and preferred).
- Has all the needed infrastructure to accommodate any needed level of business substance, with a comparative cost advantage when compared with other EU prime jurisdictions.
- Significant tax and other incentives to enable physical relocation of key persons (workforce and owners) to the island.
- Strategic geographic location.
- High level of professional services.
- Vibrant, multi-cultural and cosmopolitan life, with a low crime level, high standard of living and education and good quality properties for all budgets.
With almost five decades of experience, Totalserve Group (www.totalserve.eu) can fully assist in a tailor-made and one-stop-shop approach with all the needed aspects of setting up or relocating a company or the headquarters to Cyprus. Totalserve can assist in all areas and at all stages, including but not limited to:
- Relevant structuring and transaction assistance;
- All corporate, commercial and legal aspects at all stages;
- Tax, accounting and audit compliance;
- Locating, staffing and setting up any needed office;
- All banking related needs;
- Personal aspects of the owners, management and employees - from immigration, work permits, naturalisations to personal tax issues and other personal or family needs.
For more information or assistance you may contact [email protected]
Recent related articles by Totalserve
The following links are of related articles/ information sheets setting out in a high level manner the key benefits and features offered by Cyprus that should be conducive to any relocation or headquartering project.
Cyprus becomes hotter than ever before
Cyprus welcomes new business as a result of the economic substance requirements of offshore jurisdictions
The Cyprus Company in International Tax Structuring
Cyprus Tax Chapter (as provided for ICLG 2019)
Cyprus tax residency for individuals (and NON DOM regime)
The new Cyprus Investment Program
Cyprus International Trusts – Asset Protection