The number of new company registrations continues to rise in Cyprus, according to information provided by the Department of the Registrar of Companies and Official Receiver.
According to the figures released by the Registrar of Companies, 2016 was a successful year for the sector.
The total number of new company registrations from January to November rose 23% to 12,279 compared with the respective period of the previous year.
November was the strongest month with 1,402 applications for new company formation reaching 29% rise, which is the highest figure in a single month since January 2013.
The number of certified documents issued rose 25% to 30,570 and applications submitted for company names rose 13% to 2,792 compared with the respective month of 2015.
The above numbers are excellent proofs that sector has recovered from the slowdown of the financial crisis and growth is expected to continue due to the several advantages of Cyprus.
Why Cyprus?
Cyprus is an international trade centre since more than 2000 years. During more than 2000 years, a culture of sensitively incentive concepts has been developed in order to optimize the island’s attractiveness for international business.
Today, being member of the EU since 2004, Cyprus is an international business and finance centre with extraordinarily advantageous tax incentives.
The general corporate tax rate is one of the lowest in the EU, 12,5 %, the effective taxation of income from intellectual property is 2,5%.
Apart from the competitive tax framework, Cyprus has many more advantages to be considered. Because of its political stability, high standards of education and living, advantageous geographical location, law crime rate and warm climate Cyprus is an ideal place to live and to conduct business.
English is widely spoken and considered as business language.
Cyprus was ranked on place 45 in the World Banks’s report on the Ease of Doing Business.
Shanda Consult offers personalized Cyprus company registration services as well as a wide range of legal, bookkeeping, banking and fiduciary services. Shanda Consult can assist you also with issues concerning the Cyprus economic substance.
Through our subsidiary, Euroserv Business Centre we can offer:
complete setting up and maintenance of physical business office of your company, including the needed staff;
modern offices and workstations;
own phone line on the of the company, accepting phone calls in the name of the company, automatic call forwarding possible, notification via email;
own fax line;
forwarding of incoming mail via email (physical forwarding is possible as well).
For a personalised consultation for your company formation or other business needs in Cyprus, please feel free to contact us on +357 222 72 300 or send us an email to [email protected].