Cyprus Company Incorporation / Formation
Changes in the Cyprus tax system implemented as of the 1st of January 2003 meant that Cyprus was no longer an offshore jurisdiction / tax haven whilst however maintaining the lowest corporate tax rate in the European Union. The changes did not affect a number of tax advantages which would normally be found in offshore / tax haven jurisdictions and in combination with the entering of the Republic of Cyprus in the EU in May 2004, the entering in the Euro zone in 2008, the adopting of the EU's "Code of Conduct" on harmful tax practices and its placement on the Organization for Economic Cooperation and Development (OECD) meant that nowadays Cyprus companies have a significant advantage over other tax-attractive jurisdictions because of their tax optimisation possibilities and the good reputation they carry.
Indicative of this was a 2009 KPMG poll which rated Cyprus as the most attractive tax regime in Europe with net attractiveness of 90% ahead of Ireland, Switzerland and Malta.
Cyprus Law states that only Cyprus lawyers may incorporate Cyprus companies, and the long experience of local firms has evolved this into a very straightforward procedure.
Antonis Paschalides & Co LLC is able to guide and assist clients in all steps of the incorporation process, be it the incorporation of a new Cyprus company, the formation of a complex structure Cyprus company with tailor made Memorandum and Articles of Association, or even the registration of a Cyprus "shelf" company to a client if urgency requires it.
A detailed description of the procedure for incorporating a Cyprus company, as well as for acquiring a Cyprus shelf company may be found here.