Why should I open a Limited company in Cyprus?
It is a popular option for foreign businesses due to its favorable tax regime and business-friendly environment. To establish a this, certain prerequisites must be met, such as registering a unique company name with the Registrar of Companies. Once established, the company is subject to corporate income tax on its worldwide income at a flat rate of 12.5%, which is one of the lowest rates in Europe. Additionally, Cyprus has double tax treaties with more than 60 countries, making it an attractive location for international business activities.
Before opening a company in Cyprus, you need to decide which kind of company structure you would like to have.
Among other structures, the most beneficial in combination with the Non-Dom Status (see section “Non-Dom Status and Taxes”) is clearly the foundation of a Limited company in Cyprus, in short LTD.
A Limited company in Cyprus is a company with limited liability, founded by one or more partners (maximum 50 partners).
Each founder of the Limited company can be shareholder, director and secretary of the company, as per the law.
This means that shareholders are only liable for the company’s debts and obligations to the extent of the nominal value of their shares. The company cannot obligate shareholders to pay its debts with their personal funds.
Opening a limited company in Cyprus requires meeting certain prerequisites, such as applying for a unique company name with the Registrar of Companies. This helps ensure that no other companies are using the same name. The process of obtaining a company name typically takes up to three days.
We have extensive experience in supporting our clients throughout the company formation process and are pleased to offer high-quality services at competitive prices. Feel free to contact us for additional information and consultation.
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Immigration Consulting Team
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