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Cyprus: The elements of a Limited Company.

Cyprus: The elements of a Limited Company.

Last updated: October 14, 2016 at 6:56 am A private Limited Company consists of Directors, the Secretary and the shareholders. It also has a “registered office”. The Directors manage all aspects of the company’s operation. You can have one Director, or there can be several. It is ...

Cyprus Tax.

Cyprus Tax.

A Limited Company pays a Corporate Tax in Cyprus, i.e., corporate income tax of 12.5% of its profit. There is no other Cyprus tax on a Limited Company’s profit. Notional Interest Deduction Since May 2015, an additional exemption applies: a tax credit for virtual interest on the company’s ...

Shareholder Agreement – What is it?

Shareholder Agreement – What is it?

Last updated: October 14, 2016 at 7:04 am As the name implies, the shareholder agreement is an agreement between the shareholders of the Limited Company. It provides certainty as to the rules, and regulates the relations between the shareholders. You should never, in any circumstances use a ...

Emigrating to paradise.

Emigrating to paradise.

In the summer of 2015 the Cypriot Parliament passed a law which makes Cyprus much more attractive as a country of immigration for wealthy foreigners. The Act introduces, alongside the concept of “Residence”, the concept of “Domicile”. This distinction is not known in German, Austrian or Swiss ...

Cyprus: Adapting to a Changing Business Environment.

Cyprus: Adapting to a Changing Business Environment.

The recent changes in the regulatory requirements and international tax reforms and initiatives such as the Base Erosion and Profit Shifting (BEPS) have had a major effect on international financial centers. The changes are a result of discussions held by organizations such as the Organization ...

Cyprus Private Partnership.

Cyprus Private Partnership.

One or more silent partners (as limited partners) establish a private partnership, together with a managing partner as a general partner. The silent partners have no part in the management and apart from their deposit they carry no risk. The managing partner bears the risk and conducts the ...

Royce Office: A Delegate at the InvestPro Cyprus Limassol 2017.

Royce Office: A Delegate at the InvestPro Cyprus Limassol 2017.

Royce Office Cyprus attended the B2B conference InvestPro Cyprus, on 21-22st of June 2017 at the Mediterranean Beach Hotel, Limassol. What originally attracted us to the event, apart from the beautiful venue, was the conference program which includes topics such as international investment, ...

Confused With All the Tax Reforms Implemented Lately?

Confused With All the Tax Reforms Implemented Lately?

Are you confused with all the tax reforms implemented lately? Do terms like BEPS, CRS, AMLD and EU Parent Subsidiary Directive make you wonder if your company in Cyprus is endangered? In short, substance is needed. Letterbox companies are in danger of being transparent, with the effect that ...

5 Main Benefits of Cypriot Citizenship

5 Main Benefits of Cypriot Citizenship

Obtaining Cypriot citizenship has never been as fast and simple as it is now. Assuming you have the means to afford it. But what are the main benefits of making this significant investment in Cypriot citizenship? What do you really get for the cost? What is the return on your citizenship ...

Is Absolute Tax Certainty Ever Attainable?

Is Absolute Tax Certainty Ever Attainable?

Tax certainty is the basis of a stable tax system serving both taxpayers and governments. But is there anything simple about tax? Can the tax system ever be uncomplicated? Tax is a complicated subject and for every tax rule established, a way around would always be found. So, no, tax will never

Cyprus Tax Residency.

Cyprus Tax Residency.

Typically your tax residency is where you stay more than 183 days per year. This is also true in Cyprus. But now the government introduced a new rule: The 60 Day Rule. It is meant for the people who want to establish a Cyprus tax residency but have problems showing that they stay more than […]

New Rules for Back-to-Back Loans.

New Rules for Back-to-Back Loans.

On June 30, 2017 the Cyprus’ Tax Department has issued a circular updating the rules for intra-group back-to-back financing arrangements. Effective since July 1, 2017, the circular states that all these arrangements now must meet the arm’s-length principle. There are documentation requirements ...

Description of the Cyprus KYC Rules.

Description of the Cyprus KYC Rules.

What is the KYC procedure in Cyprus? Cyprus has been quick to adopt the Fourth Anti-Money Laundering (AML) Directive as a legislative proposal. In a bid to comply with the new reform, the following are the obligatory requirements in Cyprus: Individual Beneficial Owner: Passport copy verified by

2018 Financial Secrecy Index published

2018 Financial Secrecy Index published

This week the Tax Justice Network published its biannual Financial Secrecy Index, which relates tax-related secrecy to market significance by country. In other words, this ranking shows which countries hinder the total transparency of private (tax) data the most.

Cyprus Focuses on Substance

Cyprus Focuses on Substance

Recent developments highlight the importance of substance for companies in Cyprus who wish to operate and benefit from the advantageous Cypriot tax rates. A lack of substance can mean that the benefits of having a presence in Cyprus disappear – and also that the company no longer has a ...

Why British Companies Should Move to Cyprus Post Brexit

Why British Companies Should Move to Cyprus Post Brexit

Brexit is the term coined to define the inevitable departure of the United Kingdom from the European Union. Background This was determined following a historic referendum that took place in the summer of 2016. Ultimately, 51.9% voted leave with the remaining participants voted remain. This led ...

Tax Payback on Company Capital

Tax Payback on Company Capital

As we did write in our post regarding Cyprus tax, corporate entities, under certain circumstances, can deduct a hypothetical interest on the paid-up capital of the company. This deduction lowers the taxable profit of the company. The interest is calculated either on the yield of the 10-year ...


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