Tuesday, September 13, 2016

Offshore Company in Cyprus - Is It a Good Idea?

As per the new legislation, income tax on companies that are controlled by foreign bodies would no longer depend on where you company is registered, instead it would solely depend on where it's controlled and managed.

As you may already know, Cyprus is a member of the European Union and hence offers you and your company a safe and secure financial environment for all your international business needs.

If you study the political and financial sector of many European Union nations you would notice that Cyprus is the most favourable when it comes to international business and this is all due to the amazing tax reforms that have taken place there.

When it comes to individuals, Cyprus has the lowest taxes and for corporates it ranks a high second as per the latest data revealed through Eurostat. The companies that benefit the most from moving into Cyprus are the ones which are set up in the region of Ukraine as well as Russia.

Other services that help your business

Tax isn't the only issue that governs the fact as to whether your company needs to move into Cyprus or not. There are plenty of other factors such as banking, legal services, auditing as well as work force. Luckily for you Cyprus ranks really well when it comes to all these services.

Why you should think of moving into Cyprus

Your offshore companies in Cyprus won't have to pay tax on any of your foreign dividends and any kind of income that is generated from your establishments out of the country. The fact that the tax in Cyprus is only based on the income your make within their country is really promising.

The work force in Cyprus is strong

When it comes to shifting a company to Cyprus or beginning a new branch in the country, the first thing that you would think of is the work force and whether your company would be able to make any kind of profits.
The talent when it comes to employees in Cyprus is really amazing and it would be hard to find a skill that they lack the necessary expertise in.

Make the necessary contacts

However, before you open a new branch of your company in Cyprus it would be necessary to contact the officials in charge and submit printed documents to them in addition to soft copies of your files. So, you could hire professionals to help you out if at all you need help with any process ÉÄÑÕÓÇ ÅÔÁÉÑÅÉÁÓ ÓÔÇÍ ÊÕÐÑÏ.

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