Jurisdictions

Cyprus Company Formation

Cyprus

Cyprus

Name checks for availability

You can suggest your own name for approval by the registrar of companies. For that purpose you need to provide us with 3 names of your preference to check availability.

Ready Made “Shelf” Companies

If you need a company immediately, we offer shelf companies. Shelf companies are regular companies but have been already incorporated .They are ready to be engaged into a business immediately. We can provide you with a list of shelf companies upon request.

Formation of new business entities

The most common and preferred legal entity in Cyprus is Limited Liability Company, that offers many tax advantages. It is a private company limited by shares. This means that the liability of its members i.e. the shareholders is limited to the amount they each contribute into the company`s capital by buying shares. So if a member buys let’s say €1000 of shares and the company goes bankrupt, he is responsible to pay €1000 only to the creditors of the company or better to the official receiver of the company and that is if he has not already paid for the shares he has bought. If he did, then he pays nothing else to the company`s creditors. His other personal property is not liable to confiscation by the courts. This is the big attraction of a Cyprus limited company. The directors and the secretary of the company are not liable either for the debts of the company, unless they have expressly undertaken a liability or unless by their actions can be made responsible for them.

Cyprus Limited Company Registration

A Cyprus limited company registration is usually done by a distance. Presence is not necessary. The provider is entrusted to do your company registration through fax, email and courier to register your Cyprus ltd without you in a few days. If you need to register a Cyprus limited company, first of all you must choose a name for it, a director and a secretary and finally appoint the shareholder/s. You can use nominee persons in these key positions. Also you must specify the size of the capital of your Cyprus ltd as this is important to issue shares to the shareholders. Such capital does not have to be paid at the time of the registration of the Cyprus ltd but the shareholders will owe this money to the company. The Cyprus limited company registration will be usually completed in a few days. The company kit with all the registration certificates will be dispatched to you by a courier. Thus, the Cyprus ltd is now a new legal entity ready to trade, to buy a car or a house, to buy and sell shares or to invest in gold and other precious metals.

All Cyprus companies are of the same type. You may add some words as trading, holding or offshore to a name of a company which will specify the business activity. The steps for its incorporation could not be simpler. Below we list some of the formalities for the Cyprus limited company registration:

Choose a name for your company. Our firm will submit it to the Cyprus Company Registrar for approval. A name must not consist of offensive words, must not be the same or very similar to one already existing, must not have the name of a country or a town in it because it may be misinterpreted (e. g. New York Services) and must not be very vague or misleading in any way;
Send us a copy of your passport;
Send us your residential address;
Fill in Curriculum Vitae (Resume);
Appoint directors and shareholders or nominee ones which we can provide.Nominate the Secretary. That is usually our company for a contact with government bodies;
Fix the size of the share capital. Usually, a capital of 1000 shares of one euro each is issued;
State a registered office address. Usually, our company’s address that is designated as the RO of the company;
Fill in the know your client questionnaire;
Send us a utility bill of not more than 3 months old;
Pay the fees.

As soon as the company is registered we will compile a company kit for you where we will file all the incorporation documents, memorandum, 2 articles, certificates, deed of trust, share transfer agreement, resolutions, power of attorney, letters, notices etc. and we will courier it to your office by DHL. Our fees are very reasonable and cost-effective. We state all of our fees and we always act openly and honestly to our clients.

A Cyprus Limited Company as a Trading Company

A Cyprus limited company can be used in the so called triangular trade with great success. So if the trader is resident in France he can use his Cyprus limited company to order goods in India for a client in Austria. In fact those goods will never arrive in Cyprus. They will be delivered directly to the warehouses of the client in Austria. Therefore no VAT tax will be paid in Cyprus, nor any other taxes or custom duties. Costs are also saved on logistics. Of course the value of the goods is paid to the Cyprus Company and it ends up in its account which can be in the country or in some other country. The transfer of money in and out of the country is completely free. So any money in the company`s account can be freely used to buy the next shipment of goods or pay bills, wages, salaries, taxes etc. Also a VAT registration number can be secured for you very fast.

Tax Benefits of a Limited Trading Company

The tax environment in Cyprus is very friendly for foreign investors . The government is also trying to assist with various programs and plans. Here are the main tax benefits for a Cyprus limited company trading through Cyprus.

Corporate tax is only 12.5%;
No tax on dividends paid out;
No tax on dividends earned;
No tax on profits from the disposal of immovable properties abroad;
No tax on revenues from businesses carried out abroad, like a hotel or a restaurant;
No tax on gains from the sale of shares or other securities in the country or out;
Only 2% tax from rights on intellectual property such as trade names or patents, music, films etc.;
No tax on the inheritance of any shares or other securities.

For more information on this type of company and its rights or obligations please feel free to conact us. Our company experts will be happy to give you free advices.

International Business Registration

Through the network of our agents in other jurisdictions we assist our clients with company formation services in following jurisdictions:

United Arab Emirates (UAE)

United Arab Emirates (UAE)

The UAE is a business-friendly climate, with modern infrastructure and a strategic location that offers numerous growth prospects for businesses. You can start a business in Dubai, Sharjah, Abu Dhabi, Ajman, Umm Al Quwain, Ras Al Khaimah, or Fujairah. We pride ourselves on having the most experience in assisting in all aspects of setting up companies in the UAE. Through our years of experience, we provide the best solutions for registering and setting up companies, which will allow your organization to easily and quickly start operating. We provide the best corporate services and advice and maintain close relationships with local authorities and government agencies. We offer first-class services for service centers and businesses in the UAE, free zone companies, and mainland companies. Our services allow you to effectively expand your business. Thanks to our experience and expertise, you will achieve your goals! Using our services, you can effectively grow your business, and our experience and professionalism will help you achieve your goals.

Registering a company in the UAE.
Opening an account with UAE banks.
Obtaining a UAE residence permit.
Financial reporting and audit.

British Virgin Islands

British Virgin Islands

A BVI IBC is typically used by clients wishing to operate worldwide from a secure, tax-exempt and confidential location.

The key features of a BVI offshore company are:

Privacy and confidentiality;
No minimum capital requirement;
No need to file audited accounts;
No taxation on foreign-earned income.

The offshore BVI corporations are capable of engaging in a wide range of activities including: investing, trading, property holding, financial management and practically any other legitimate business and investment endeavours.

BVI Incorporation Services

No need to travel to BVI to form an offshore company or to conduct its activities;
Ability to check and reserve the name of your offshore company on-line;
Allowance to own and manage sea vessels.

BVI Company Formation

There is no requirement for a local secretary;
BVI offshore companies may be formed with only one Director and one Shareholder;
Director and Shareholder of a BVI offshore company can be the same person;
Director and Shareholder of a BVI offshore company can be a corporate body;
Memorandum and Articles of Association of a BVI Business Company can be filed with the registry in any language (English translation required);
It is possible to use any internationally recognized ending for an offshore company name which states the limited liability of the company, as following: Inc., Incorporated, Ltd., Limited, Corp., Corporation, S.A., PLC, GmbH, B.V., N.V., LLC, LC, etc.

BVI Companies Share Capital Requirements

A BVI Offshore company can issue bearer shares;
Non par value shares are allowed for an offshore company incorporated in BVI;
Voting and nonvoting shares are allowed;
Shares may be paid up in cash or by assets transfer;
Share capital can be assigned in any internationally recognized currency;
Standard share capital is US$50,000.

BVI Corporation Taxation

BVI Company is a tax free offshore company;
There are no currency regulations for the offshore companies.

BVI Corporations Privacy and Confidentiality

No requirement to disclose beneficial owners of the offshore company to the Registry;
No requirement to disclose names of shareholders of the offshore company to the Registry.

BVI Companies Maintenance and Administration

No requirement for an annual audit;
You do not have to file books and records with the Registry;
Annual meetings of members and directors can be anywhere in the world.

Panama

Panama

Panama offers some of the tightest financial privacy in the world, combined with a globally recognized financial infrastructure. It is ideal for international business and investments. Panama offers top-notch estate planning and asset protection tools through a mechanism as a Private Interest Foundation, which feature is a separation of property of other owner’s assets. There are no reporting requirements to the Panamanian Government, the use of bearer shares is supported, records can be kept anywhere in the world, and registered agents are not required to file or record any company information.

Panama Corporation (Panama IBC)

Established under a tax regime that exempts earnings and profits generated internationally;
The Panama Corporation is an ideal tool for mitigating tax liability;
Usage of tax free treatments allows an offshore entity to be exempt of any tax on income, profit, estate, inheritance, CGT and dividends;
Offshore bank accounts are necessary for offshore operations, increasing capacity for international business and rendering a greater degree of privacy of Panama offshore companies.

Incorporation, Ownership and Administration

Panama offshore companies are owned by shareholders, while administration falls into the hands of the board of directors;
The President, Treasurer and Secretary form the board which consists of 3 persons;
In the absence of a third person an incorporation occurs with 2 persons where the Secretary or the President can be a Treasure also;
The Secretary and President must at all times be distinct persons;
US $10,000 is the standard share capital;
Meetings may be held as frequently as the directors choose to, in or outside Panama.

Record Keeping and Maintenance

Stock Register contains names of the shareholders in alphabetical order, place of domicile and date on which shares were bought;
The Book of Minutes for recording deliberations and resolutions is being taken at the meetings;
Proper records of accounts must be prepared and kept in any location;
Annual fees for continuing registration is assured by payment of applicable fees annually.

Privacy

We do our best to maximize the privacy of Panama Corporations by putting in place various mechanisms which secure the identities of persons who form a company. Nominees are being used instead of actual members for identity protection, since director names and addresses are filed with the Registry for incorporation purposes; Registered Office Is provided for a keeping of names and personal data of the actual owners along with other purposes.

Belize

Belize

Belize law provides huge benefits for International Business Companies that do not operate within Belize. The legal system is founded on English Common Law with strong legal protection for your financial privacy. Strong international banking infrastructure, combined with its offshore company legal statutes, puts this jurisdiction third in our world-wide list.

Belize Incorporation Services

There is no need to come to Belize to form the offshore company or to conduct its activities;
When you incorporate your Belize company on-line you use an encrypted SSL connection for your data protection;

Belize Company Formation

Only one Director and Shareholder is required for Belize offshore company formation;
Director and Shareholder of a Belize company can be the same person;
Director and Shareholder of a Belize offshore company can be a corporate body;
There is no requirement for a local secretary for the offshore company incorporated in Belize.

Belize Companies Share Capital Requirements

Voting and nonvoting shares are allowed;
A Belize Offshore company can have bearer shares issued;
Local fiduciary services for the holders of bearer shares are provided;
No par value shares are allowed for an offshore company incorporated in Belize;
There is no limit on the amount of the share capital for Belize offshore companies;
Share capital can be assigned in any internationally recognized currency;
Belize IBCs pay low annual fees.

Belize Corporation Taxation

Belize corporations are 100% tax free, no income, capital gains, profit or inheritance tax;
There are no currency regulations for the offshore companies.

Privacy and Confidentiality in Belize

No requirement to disclose beneficial owners or directors of the offshore company to the Registry Belize Companies Maintenance and Administration;
Annual meetings of members and directors can be held anywhere in the world;
You do not have to file books and records with the Registry;
Nominee officers are available for Belize Companies;
No requirement for an annual audit.

Seychelles

Seychelles

Issuing of the legislation favorable for tax-free offshore company formation — International Business Companies Act in 1994, the International Service Providers Act and other related acts, has resulted in an immediate attraction to the Seychelles islands by investors.

Seychelles Company Incorporation Services

Seychelles company incorporation is favored by many clients as there is still a wide choice of names for your Seychelles offshore company (IBC) in comparison with older offshore centers where names choices are limited;
There is no need to come to Seychelles to form the offshore company or to conduct its maintenance or administration duties;
Seychelles IBCs do not need more than one director and one shareholder;
Director and Shareholder of a Seychelles offshore company can be the same person;
Director and Shareholder of a Seychelles offshore company can be a corporate body;
There is no requirement for a local secretary for the offshore company incorporated in Seychelles.

Seychelles Companies Share and Capital Requirements

No paid up capital is required;
No par value shares are allowed for an offshore company incorporated in Seychelles;
Voting and nonvoting shares are allowed;
There is no limit on the amount of the share capital for Seychelles offshore companies;
Issuing of bearer shares is not permitted any more.

Seychelles Corporation Taxation

The offshore company is a 100% tax free IBC if the income derived outside of Seychelles;
There are no currency regulations for the offshore companies.

Seychelles Company Privacy and Confidentiality

No requirement to disclose beneficial owners of the Seychelles offshore company to the Registry;
Nominee directors and shareholder are permitted;
The particulars of the beneficial owners, directors and shareholders are NOT part of public record.

Seychelles Corporation Maintenance and Administration

No requirement for an annual audit;
You do not have to file books and records with the Registry;
Annual meetings of members and directors can be held anywhere in the world;
Seychelles Offshore companies may own and manage sea vessels;
Low annual fees for company maintenance.

United Kingdom

United Kingdom

UK LLP and Limited Company Acts provide two excellent companies which can be used for tax planning purposes. UK LLPs are governed by the Limited Liability Act of 2000 and the UK Limited Company is regulated according to the UK Companies Act of 1985.

UK Company Formation

A minimum oftwo (2) company members who can be individuals or corporations of any nationality is required for UK LLP formation;
One company director and one shareholder are needed for the registration of UK Limited Company (Ltd);
The appointment of a company secretary for UK LLP and UK Ltd is not mandatory but clients are encouraged to appoint a secretary;
All the documents required for UK Company formation are filed with the UK Companies House. Documents can be filed electronically or can be delivered. Electronic copies will be made for all forms and documents delivered to the Companies House;
The names of all UK Limited Companies must end with the word Limited or the abbreviation Ltd;
The word UK Limited Liability Partnerships or its abbreviation LLP must be added to names of all UK LLPs.

UK Companies Taxation

UK LLP is a pass through tax structure and the company itself is not a subject to a corporate tax;
Members of LLP will not pay local UK Income taxes on the income gained from the business operations out of UK;
Only if members of a UK LLP are residents of the UK, they will pay income tax on the earnings generated by the LLP;
UK Ltd company is subjected to a corporate tax rate of 20%;
Dividends paid by UK Ltd are not subjected to withholding taxes.

UK Company Privacy and Confidentiality

UK Companies( LLP and Ltd) must file annual financial reports which are available on public records;
Annual Meetings of shareholders are obligatory for UK Limited company and can be held at any locations;
UK LLPs are not obligated by law to hold Annual meetings;
UK Limited Company must prepare and file annual financial statements;
UK Limited Companies with turnover of less than $6.5 million don’t have to be audited accounts;
UK LLPs must prepare and file accounts with the local authorities.

Limited liability partnerships are hybrid tools with features of a corporation and general partnership. UK LLPs share certain traits in common with the LLC, which also was created by combining certain features of the partnership and corporation. Flowing from this structure, limited liability partnerships offer unique benefits:

The absence of a board of directors;
Easier decision-making;
No separation of director/shareholder powers and duties;
Gains, salaries/wages and earnings are treated as partner income for easier tax filing in an onshore/domestic context;
The option to be member-, or partner-managed;
Profits and losses are shared proportionally;
Separate legal entity distinct from it’s members Capable of structuring into a fully tax-sheltered vehicle.

UK Limited Compant (UK Ltd)UK Ltd. registration opens doors to specific benefits, such as:

Access to EU tax treaty privileges with countless countries;
Access to more than 100 anti-double tax treaties;
Opportunity for entry into EU markets.

Using your UK Limited company with an offshore company provides many commercial and tax opportunities. The UK Company will act as an agent for the offshore company selling goods and/or services on behalf of the offshore company in countries where UK companies are well respected. Furthermore, the UK Company can be engaged in trade in Europe to take advantage of the EU Tax benefits.

A UK Limited company can be used as a Holding Company in another company in a European country. This low tax UK Company will benefit directly from the European double tax treaties which means that there will be no double taxation on dividends paid out by the UK limited company. There is no withholding tax on dividend payments made by UK Companies even if the shareholders are non-residents.

UK Limited Companies have a low corporate tax of 20%, making this company one of the few low tax companies available in Europe.

Hong-Kong

Hong Kong

Hong Kong companies are one of the most popular and reputable types of offshore companies. The popularity and reputation of the Hong Kong tax haven is a result of its highly developed offshore business infrastructure, access to mainland China, strong banking and sophisticated incorporation procedures and corporate laws.

Corporate tax is charged only on profits which derive from a trade, profession or business carried on in Hong Kong. Consequently, this means that a company which leads it’s activity outside of Hong Kongis not required to pay tax in Hong Kong on international profit in Hong Kong. Hong Kong sourced income is currently subject to a rate of taxation of 16.5 per cent. There is no tax on capital gains, dividends and interest earned.

Hong Kong is an ideal location to set up a business not only because it is one of the world’s top financial centres but it is also a stable and well respected jurisdiction. As Hong Kong companies are legally required to file annual audited accounts, you will have more substance and can apply for Credit facilities with banks, trade services, credit cards etc. A Hong Kong company can conduct any type of business, and it’s activities are not restricted by the company name.

Please note that the company registry in Hong Kong is OPENED TO THE PUBLIC, therefore, details of the company Director(s) and Shareholder(s) are easily accessible to anyone. If you don’t want to disclose your name to the public we can provide you nominee directors and shareholders.

All Hong Kong Companies are required to keep accounting records of the following:

All sums of money received and expended, and the matters in respect of which the receipts and expenditure take place;
Sales and purchase orders;
All assets and liabilities.

The accounting records must be done according to GAAP international standards and contain the information necessary to give a true and fair view of the company’s affairs and to explain its transactions. We are able to assist our clients with preparation of the annual Profit/Loss Account and Balance Sheet then arrange an independent audit.