The Republic of Cyprus is not in the list of offshore zones, but the conditions of registration and taxation of the company in Cyprus allows to include it to low-tax jurisdictions. There are special conditions regarding the taxation for companies that are operating outside of the Republic, but have Cyprus registration.
However, when choosing a jurisdiction for the incorporation of the company it should be noted that banks in Cyprus doesn’t provide services of express wire transfers. Considering this, Cyprus is not optimal country for registration for the financial company. Also, according to the established European standards, all the data about the founders and shareholders of the company are in the public access.
As to the auditing and reports – the company must maintain an annual financial report to the Central Bank of Cyprus and the declaration of income to the tax authorities of the Republic.
|Limited by guarantee Liability Company (with share capital or without share capital)||
Limited Liability joint stock company
of registration or liquidation of company in jurisdiction