If you are already in Cyprus, you will know all the relevant details about the registration process for starting a firm in Cyprus. There are registering procedures are the same for resident and non – resident company’s in Cyprus. But the benefits offered by the Government of Cyprus vary for the resident and the Non – resident companies. The numbers of non – resident companies are increasing at a rapid pace because of the geographic location of Cyprus and also because of the tax regime offered by the law of Cyprus Government.
Since Cyprus is located across the continents of Asia, Africa and Europe, import and export of commodities required for setting up a new plant in Cyprus is made very easy. Also Cyprus has built in two international ports and international air ports. Since the location is in between the three major continents, also facilities are available for import and export of materials and commodities in and out of Cyprus, has made easy for international business companies to set up their plant out here in Cyprus.
The financial benefits offered by Cyprus Government:
Many residential industries and companies in Cyprus will come forward in collaboration to help the nonresident international business companies to ensure that they register successfully in Cyprus Law’s. They will assist and guide the investing company to register and to document all the necessary procedures in Cyprus Island. In addition to this there are several banks providing financial support for the entire business corporation for setting their company in Cyprus. The island of Cyprus has Double Treaty Tax network, which eventually cuts off all the tax limits. But the resident companies, that is, the administration and control of the company is in Cyprus itself.
Registration process to be carried out in Cyprus government:
Registration should be done in a sequence of operations right from getting approval for setting your company to your income tax audits. You have to first get approval for your company’s registration, proposed name of the company, registration process documentation, and final registration in the Cyprus government. The investing company should have shares for their company. The number of shares is mentioned in the Laws of Cyprus. Also, there should be a local director in addition to the main director for the company to be registered in Cyprus in order to check the income tax statements and other managing aspects of the company. A permanent address for your company should be selected.
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