Managed Limited Companies
The key benefit of Cypriot limited companies is that once they are properly managed and controlled in Cyprus they will benefit from the indigenous corporate tax rates of only 12.5% plus an excellent double taxation treaty network with Eastern Europe inherited from their pre-European Union membership days when the relationship with the old COMECON countries was paramount. In addition, Cyprus offers excellent merchant naval registration facilities and in fact has one of the largest merchant navies in Europe. It is of course far cheaper using a managed company provider like SCF than establishing one’s own Cypriot office.
Uses for the Cypriot Tax Treaty Network
As stated, Cyprus has a uniquely favorable set of tax treaties with most East European countries (including those that have become recent EU accession states), which can provide for very tax efficient inward investment into these countries including tax exemption for building projects, few or no withholding taxes etc. In addition, the Cypriot tax treaty signed with Ireland in 1973 provides an ideal way for a Cypriot company to funnel surplus profits back into the West as Ireland has an excellent tax treaty network with most significant western and developed countries. For individual fiscal migrants to Cyprus many tax treaties provide a very favorable tax treatment for ‘imported’ income and capital especially where pensions are concerned.
Why register a Cypriot Managed Company?
- Pro-business environment
- EU Member State benefiting from all EU Directives
- VAT Rate of 19% (2014 onwards)
- Highly developed corporate and general law.
- Good communications.
- Active and positive member of the European Union.
- The Euro is the local currency
- Partnerships can be used to further mitigate tax
- Excellent double taxation treaty network.
- Highly educated population
- Major merchant naval jurisdiction
Double Taxation Treaty Network
The key benefit is that Cyprus has an extensive and very favourable tax treaty network with most East European countries despite its very low corporate tax rates. It is also an ideal base for many consultancy and small to medium sized trading companies.
ADMINISTRATION & ACCOUNTANCY SERVICES
Managed Cypriot Companies
The key service offered by the SCF Accountancy & Law is that of a fully managed Cypriot company where-by we can register your Company, act as the daily legal and accountancy administrators, liaise on your behalf with the Revenue, Cypriot Company House, maintain the registered office, company minutes and in fact everything necessary to provide you with a fully functional VAT registered Cypriot company including quarterly VAT returns, online banking, management and meeting rooms etc. – In fact, our Cypriot services are totally bespoke according to your needs.
Our Range of Fully Managed Company Services
- The appointment of a qualified accountant to act as Company Secretary
- The opening up of a bank account for your company with access provisions agreed by SCF, the bank and of course the beneficial owners
- A Full Management Agreement setting out the rights and obligations of all parties
- The provision of a Cypriot registered office address for service of process and official mail
- The application and obtaining of a Cypriot VAT number for your company
- The maintenance of all requisite company minutes, ongoing companies registration office submissions, annual returns and AGM preparation
- The annual submission of the Annual Assessment of Tax Form
- The management of the company’s VAT submissions, payments and VAT reclamations on a monthly or quarterly basis
- The maintenance of the company’s accounts supported by a quarterly ready for the submission to the Revenue Commissioners including the corporate tax calculation. Accountancy will be maintained in either SAGE or Quick Books format
- The appointment, if required or appropriate, of auditors
- Advice on general Cypriot tax mitigation and the company’s maintenance by a dedicated company accountant
Set-Up & Annual Maintenance Fees
Please see separate SCF Accountancy & Law Cyprus Fee Quotation
The Fully Managed Cypriot Company & Trading Office Package (Optional Extra)
This Package is identical to the Fully Managed Cypriot Company Package save that it includes SCF providing the day-to-day trading, telephone answering, website management (if required), order reconciliation, invoice issuing and trading office facilities for your Cypriot company operation which can be made bespoke to your exact needs all at a fraction of the cost of setting up and maintaining you own office in Cyprus.