What is a Cyprus I.B.C.
A Cyprus I.B.C. is a private limited liability company limited by shares. This is the most commonly used type of company in Cyprus. Why register a Cyprus I.B.C? The responsibility of the owners of the company is limited to the sum of the capital contributed.
A powerful tool to low taxes. This is what the Cyprus I.B.C. is. The registration of a Cyprus I.B.C. is fast and your presence is not needed. Operate your Cyprus I.B.C. from your country. You don`t have to maintain a real office in Cyprus. You can get a Cyprus Bank Account for your Cyprus I.B.C. in ten days approximately!
Constituents of a Cyprus I.B.C.
Name of the Company
1.You must approve the name of the company by the Registrar. It takes about three to four days. Take care not choose the same name as that of an existing company. We offer you a list of pre-approved company names.
Capital and Shares
2.The Capital of your I.B.C. You can declare any currency. You are allowed to make your capital one Euro upwards. You have to pay a once off tax on the capital of 0.6%. If you desire later you can increase the capital at any time. You do not have to pay the capital of the Cyprus I.B.C. in cash. You simply owe the money to the company. For more reading on this go to Cyprus I.B.C. Capital.
3.The Shares of your company. It is possible to issue any number of shares. You may divide the capital into any type of shares such as common shares, non-voting shares, no dividend shares etc.
Officers of the Company
4.The Director of the Cyprus I.B.C. You must appoint a Director for your company. Anyone can be a Director if he is of age and a non bankrupt. You can appoint as many directors as you like. You can use the services of a Nominee Director if you like. We offer this service.
5.The Shareholder of the Company. You have to declare a name to be Shareholder in your Cyprus I.B.C. You can have up to fifty shareholders for your Cyprus I.B.C. The Real Owner of the company is the Shareholder. You can appoint a Nominee Shareholder if you like. We offer this service.
6.The Secretary of your company. You may use more than one Secretaries if you like. There is no limit. You have to appoint anyone as Secretary of your Cyprus I.B.C. He has formal duties only. It is required by the Cyprus Company Law.
Official Address
7.The Registered Office Address. The Cyprus Company Law requires you to have an official address in Cyprus. We offer this service to our clients. It is a formal address where the Registrar, The Tax , the Vat and other Government departments may send notices.
Taxes Paid by the Cyprus I.B.C.
1.Corporate Tax paid by the Cyprus I.B.C. is only 12.5% on the net profits of the company from its worldwide trade including that of trading in Cyprus. All expenses going towards generating the income of the company are deductible from the revenue. You can pay Corporate tax three times a year. Once in July, once in December and once after you file audited accounts and the Tax Office announces the final assessment of tax.
Other Taxes
2.Dividend Tax on the profits of a Cyprus I.B.C. is 0%! This is one of the major tax advantages you get with your Cyprus company registration.
3.The tax on Profits from trading in Securities such as shares is again 0% Tax!
4.Tax on the price of selling its own shares by a Cyprus I.B.C. is still zero!
5.The profits of any permanent establishment abroad bear no tax in Cyprus!
6.There is no tax on capital gains from the sale of assets abroad!
7.No tax on dividends received by a Cyprus I.B.C.!
If you need to begin your Cyprus Company Registration, please Contact us now!
