Cyprus is one of the popular 'tax havens' in the world
There are numerous advantages to reap if you do conclude to choose Cyprus
Good Banking Facilities
As an established community for offshore companies, Cyprus banks, allow owners to open and operate these anywhere in the world through internet banking system. They are at liberty to withdraw and transfer money to any bank in the world with a click of their laptop. The specialized codes given to them by the bank are sufficient to guarantee only authorized individuals can perform these transactions. Therefore, you can expect quicker and more convenient monitoring of your funds.
The telecommunications services in Cyprus are handled by the Cyprus Telecommunications Company. It is proud to offer an advanced telecommunications and transport infrastructure coupled with multi-lingual and skilled human capital base that provides high standard of specialized professional services. Although the general language spoken is Greek, many are learned to speak English, which makes business transactions a breeze.
Low Operating Cost
In comparison to other European countries, Cyprus offers one of the lowest operating costs in the region without compromising the quality of services delivered to its investors. Auditing, accounting, legal, investment, funds management, business administration, and banking services are all provided to make your business processes as effective as possible.
Freedom from Exchange Controls
One of the best things you will enjoy in Cyprus being a registered offshore company is the freedom from exchange controls, which is fully administered by the Central Bank of Cyprus. You are given the liberty to maintain foreign currency and even external accounts under foreign currency without question. This makes it a more favorable home for business due to friendly remittance and transfer of funds services.
Anonymity is always considered in the banks of Cyprus. If the ultimate owner does not wish to disclose his identity to the public then he is free to do so. Authorities will need to follow strict rules before they are allowed to gaze upon the profile of the owners of bank accounts in this area. It may have brought some friction with other countries like the US, but Cyprus managed to maintain its stand in protecting the banking rights of its clients.
Ultimately, the low corporate tax and various exemptions given by the government is one of the best reasons to choose Cyprus. Foreign business that does not directly perform trading in Cyprus will only be required to pay 10% of their net profits. The dividends received by the shareholders will be exempted from tax payments, but the account has to be properly audited and filed annually.
Considering these facts and the leniency given by the authorities to foreign investor, there are more reasons why you should not have any second thoughts with your decision to establish a Cyprus offshore company. The country offers the best deals and reliable services that will match the needs of your international company.