Company Formations in Cyprus
Interesting facts about Cyprus and general conditions for Company Formations there
Cyprus has a lot to offer. Apart from fantastic weather (340 sunny days in a year), the tax framework in Cyprus is more than competitive.
Furthermore, if living in a hot spot is not required, one can enjoy a reasonable cost of living and low housing costs. Hence, numerous international companies are already doing business in and from Cyprus, and more entrepreneurs are setting up branches and subsidiaries on the Mediterranean island.
After years of turmoil, the banking sector fully recovered, and newly formed companies obtained bank accounts at stable local banks, unlike in Malta.
Our experienced and highly qualified international tax and legal advisors will review your company structure and existing management or mandate contracts. We also offer a review of your contractual arrangements at home and abroad. In addition, our tax and accounting department will be pleased to take care of your bookkeeping and tax returns.
Why not work with us – we offer company formations in Cyprus at a fixed price of 2.850,00 € net all-in. Enjoy our fast, reliable, and competent approach in your native language (German, English, French, Czech, Slovak, Greek, or Russian)!
Ideal Tax Framework for Holding Companies
Before the Republic of Cyprus joined the European Union, the former “offshore” regulations were abolished. Thus, the Cypriot legislation fulfills all relevant EU standards, EU regulations, OECD- standards, the FATF, and the FSF.
Cypriot companies are recognized throughout the European Union as EU companies with an extensive Tax Treaty Network. This circumstance is used mainly by holding companies. Cyprus nowadays has one of the most favorable Tax Regimes and competes within the EU with Ireland, Malta, the Netherlands, and Luxembourg at a split of the cost or with the UK as a NON-EU Jurisdiction.
Why not speak to us about the advantages of a holding structure?
What you need to consider
A long-term stay in a country for more than 183 days will usually (and automatically lead) to an unlimited tax liability for your world income. Some countries go even further and already assign this tax liability if you can permanently use your apartment (this can even be the room in your parent’s house or a regularly visited hotel), which you can access with your keys – known as “Schlüsselgewalt” in German-speaking countries. This rule establishes or maintains an unlimited Tax liability for your world income. If this subject interests you, you may learn more about it on our dedicated website for Taxation.
However, a tax residency in Cyprus is granted to non-doms if they stay at least 60 days in the country each calendar year. This offers ample opportunities and is an excellent advantage over other jurisdictions, whereas a minimum stay of 183 days is required. Especially for Digital Nomads, Cyprus is a fantastic place to stay, creating a safe environment within the EU but leaving all doors open for extended travel. One can’t stay in any other (EU-) country for more than 183 days as this would trigger a tax residency there. There are some exceptions we will discuss in a meeting.
One can, therefore, only advise that people interested in relocating their place of residence not to rely on start-up agencies and other jokers – the pitfalls are too great, and sound advice is required. A few advisors (specialized lawyers, accountants) have studied tax law for years, and others do a weekend seminar or attend Google University – where do you feel better off?
What’s on offer on the internet is sometimes irresponsible. Believe us – there is no point in having no tax residency/residence anywhere. If in doubt, you never gave up your original tax liability (in your country of birth) or are automatically subject to tax through your passport. So, if you have plans for company formations in Cyprus, we should discuss your relocation in detail.
TOP Jurisdiction for EU-Residence
Cyprus, however, offers ideal conditions for a tax residence because, unlike Malta or Ireland, a stay of just 60 days is sufficient to obtain tax residence in Cyprus.
Of course, you cannot stay in any other country for more than 183 days, which would trigger an unlimited tax liability there. This concept is, therefore, ideal for everyone who can live and work flexibly (e.g., digital nomads). A different concept is required if you like extended travel, being broad for months.
You can rely on well-founded and legally sound advice if you come to us. Together, we will find your ideal life concept.
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