Why should you set up an offshore company in cyprus?
September 27, 2016
All sane entrepreneurs think over possibilities to make business more profitable and to apply less time and efforts for it. But not many business owners can achieve success.
Probably, you also have thought how to decrease your tax level? How to secure your assets and capital? It is really important questions. We have right answers and we are ready to share this information with you.
To realize the above mentioned goals you need to set up an offshore company in Cyprus.
Why in Cyprus, but not in any other jurisdiction? Before we’ll talk about Cyprus, let’s consider what an offshore company is and for what you should incorporate offshore.
If to explain in simple words, an offshore company is a legal entity, registered in the offshore jurisdiction outside country where you live pay taxes. An offshore company may include business from one country or from different countries around the world. This company is established for assets protection and for reducing tax burden.
As it is known, every company pays taxes. The more you earn – the more taxes you should pay. In some countries taxes make up to 60% of income and it is a significant amount indeed. Do you really want to pay such large sums of taxes? If you set up an offshore company in jurisdiction with low taxes, you will save a considerable part of your profit and will get other possibilities for your business.
How to choose the jurisdiction with low tax rates? And how to be convinced that this country is appropriate for your business?
In fact, before you choose the perfect country for your company, you have to analyze the type of your business and the advantages of each country which you consider for incorporating. Studying of these questions can take a lot of time and efforts, but not to bring desirable result. The best way is to receive a professional consultation. We offer our clients free consultations and answer all offshore questions.
If you are looking for developed infrastructure, prompt telecommunications, international banking and friendly tax system, the best place is Cyprus. The location of Cyprus is convenient for international relations with Europe, Asia or Africa. So, Cyprus is the best jurisdiction for displacement of business and for incorporation of a company.
Advantages of Cyprus:
– the lowest corporate tax rate in EU (12.5%);
– tax exclusion for incoming dividends;
– zero tax for payments to non-resident shareholders, creditors and licensors;
– tax exclusion for profit received outside Cyprus if company doesn’t have property situated in Cyprus;
– possibility to create trusts for inheritance, wealth protection, financial planning and other purposes;
– double taxation agreements with over 45 countries.
Summing up the results, we can say once again that Cyprus is the best jurisdiction with low taxes and other advantages for business.
To know more about the privileges of incorporating a company in Cyprus, contact our specialists.