Cyprus offers so many other advantages!
We always recommend evaluating a Cyprus Company not only under the aspect of tax advantages. Beside its tax advantages, Cyprus offers lot of other advantages, further increasing the overall advantages.
Liability and the protection of property are of crucial importance, especially in the light of today’s economic climate. For instance, there is no legal ground for piercing the corporate veil in Cyprus’ legislation.
Some of the main non-tax advantages of Cyprus:
- absolute no piercing of the corporate veil
- no minimum capital
- no professional qualifications needed (except special industries like financial services, e.g.)
- low employee benefit costs
- advanced trustee legislation (nominee directors and shareholders)
- high legal certainty
- high legal security for founders (companies may only be incorporated in Cyprus by lawyers)
- high standards of data protection
- effective banking services (all banks maintain ‘International Banking Units’ for foreign customers)
- wide network of Double Taxation Treaties
- professional financial services sector
- very well educated local workforce
- large number of well skilled software programmers available
- excellent communication infrastructure
- business language is English
- acceptance of invoices from offshore entities, no withholding tax on the payments of such invoices
- offshore entities accepted as shareholders
You are welcome to contact Shanda Consult for your personal consulting!