Limassol Harbour, the old town of Laiki, Lefkosia and the 40 pillars of Paphos.

Cyprus Limited Companies.

Cyprus limited companies are the best solution for those who wish to set up a business in Europe, pay taxes regularly and who wish to close their annual balance with a profit yet without being constantly present in the country and, most of all, without exorbitant expenses for the formation, maintenance and auditing.

Limited Liability Companies are generally used as:

• A company operating in the business sector online and offline
• A trading or import/export company
• A trademark, patent or website holding company
• A company producing software online and offline
• A company offering a comprehensive range of services worldwide
• A company holding shares in other companies worldwide
• Cyprus can boast double taxations treaties with the leading world countries, among which there are Italy and all the European countries. The dividends of Italian or European companies claimed by a Cyprus LTD are tax-exempt in the country of the head office 
• A headquarters or branch of companies operating in favourable-tax countries

The main characteristics of a Cyprus limited company can be summed up as follows:

• It can be run only by one director (there is no nationality constraint) who must be a natural person
• It can have one or more shareholders, natural or juridical persons
• The capital committed can be paid in cash or kind and there is no paid up capital required. The liability of the each shareholder will be limited to the acquired, but not paid up, capital
• It may have a ‘generic’ charter to accomplish any kind of legal business
• The partners and directors meetings may be held anywhere in the world attending personally or by proxy
• It would be better to sell the shares of a LTD in trusts (trusteeship)
• Cyprus registered companies are usually arranged with a VAT registration number which is available on the VIES European web site

Our provision of documents and of standard services for the Cyprus corporations includes:

• Certified Charter / Statute
• Certificate of Incorporation / Registration
• Minutes of the first meeting
• General Power of Attorney
• Kit complete with documents plus apostilles
• Corporate Seal
• Briefcase
• Trust Agreement(s) between the beneficiary/ies and the trust company in charge of the shares
   
• Use of the registered office (to our office – in a prestigious address and building)
• Provision of the registered agent (local figure who handles the relations between the company and the local authorities and who receives legal communications concerning the company)
• ‘Turn-key’ office
• Nominee service of directors / shareholders
   
• Our group has also a number of Limited already formed
  and ready to be used within 24 hours
  
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Accounting and Auditing.

Cyprus limited companies require a simple administration, accountancy and auditing at the end of the year. Our office can offer, through its affiliated professional accountants, every service necessary for a successful management of your limited company.

Thanks to our strengthened relations with this country, we have developed accounting service packages which include low costs, transparency and easy management.

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Cyprus: European tax-heaven?

Although still politically and geographically divided between the Greeks and Turkish, Cyprus is a ‘favourable European’ jurisdiction and its legal currency is the cypriot pound which is about € 2 worth.
Since the country has been admitted into the European Union, it has officially become a ‘super white listed’ country.
The huge fiscal difference between the registered and non-registered companies diminished as the corporate tax on the registered LTD companies was reduced to 10%.
 In Cyprus you can own a real company arranged with a VAT registration number, accounting and auditing at the end of the year; you can have an annual turnover of one million euros, gain one hundred thousand euros and pay a ten thousand euro tax (and you can say ‘I pay taxes’). As three years ago the tax burden was three times as much, today almost everybody pay taxes in Cyprus because they do not want to come back to the old tax system (sometimes it would be sufficient learn from successful ideas and turn them into an effective financial act).
Cyprus companies are built upon the Anglo-Saxon system; we could even say that they are nearly identical to the UK companies: moreover in Cyprus, people drive on the left!
Though the companies are nearly identical in formal terms, we have to distinguish between the resident and non-resident LTD companies: the difference consists in the ‘control’ of the company; if the company operates in Cyprus and it is run from Cyprus, it will be a resident company and will pay taxes; if the company has foreign directors and is run from abroad, it can benefit from a ‘zero tax’ regime, but it cannot profit from the double taxation treaties with most of the world countries.
Cyprus has no black lists, a Cyprus company may receive invoices, pay and deduct any invoices from anywhere in the world.

Our group cooperates in Cyprus with the M&G TFS (Trust and Fiduciary Services) Cyprus Limited and offers the following services:

• LTD and Trust Incorporation
• Tax and Vat registrations
• Accounting and auditing
  (through affiliated professional accountants)
• Secretarial services
  (phone and mail forwarding)
• Bank accounts opening
  (two banks, one of which with direct mandate)
• Trustee and nominee services (of directors and shareholders)

Cyprus and its Banks.

There is a wide range of banks in Cyprus. They offer current accounts openings in foreign currencies, IBAN accounts and different types of credit and debit cards.
Our group of companies offers bank account openings in two of the Cyprus leading banks with international business unit and no audit is required. Cyprus banking positions are both for local entities (fiscal accounts) and for companies of other jurisdictions (international positions) and they can also be granted with liquidity, management or asset management mandates according to our customers’ requirements.

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Cyprus answers!.

Our group offers the following services:

• Mail and parcels forwarding
• Reception of invoices and accounting documents
  (for their accounting)
• Reception of phone calls
  and faxes on leased lines
  (plus listing in the local White and Golden Pages directory)

  FOR MORE INFORMATION  

Our office in Cyprus:

 M&G TFS CYPRUS LTD
7 Ifigenias Str. #7
Nicosia