Five advantages of company formation in Cyprus

Since 2003, when new legislation came into force related to Cyprus company formation, it has been advantageous to set up a business based in Cyprus, but particular so since Cyprus became a full member of the EU in May 2004.

There are 5 reasons that forming a company in Cyprus has benefits:

1.    Cypriot corporate rate of 10% tax is very low
2.    Cyprus is an EU State Member country
3.    There are an extensive number of double taxation treaties covering over 40 countries
4.    Tax efficient for all EU residents
5.    Ready made Cyprus companies are available

Things to watch out for when purchasing a Cyprus company are to make sure that it is set up in a legal and above board fashion, and that you are getting a guaranteed bank account, not just a banking introduction. This can cause big differences in the purchase price of ready made companies, so check out the small print!

Cyprus is well renowned internationally as a trading nation, so there are no issues with the credibility of your new Cyprus-based company, or that your registered office will be on the island.

So, in conclusion, if you are looking for a tax efficient location for an offshore incorporations, then Cyprus is a place that you should be considering.

Article Source: http://www.articlesdepositery.com/