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“Cyprus Offshore Company” is no longer an approved term since the changes effected to the domestic laws in 2003. “Cyprus International Business Company” (IBC) is the term which now describes the company with foreign interests.
In addition to the aforementioned “basic applications”, the Cyprus International Business Company offers many considerable benefits to the foreign investor, the businessman or the entrepreneur:
A non-resident company is taxed only for its income generated in Cyprus.
Low corporate tax (10%), the lowest standard rate within the EU
Stable and secure business environment
Application of EU directives
No tax on profits from trading in securities
The foreign member of the company does not pay any tax on dividends
Tax-relief is allowed for foreign tax suffered irrespective of the absence of a double tax treaty
Losses are carried forward indefinitely
Group relief for tax losses is permissible, thus allowing losses of one company to be set off against the profits of another company in the group
A long list of double-tax treaties (more than 40)
Highly qualified personnel
Cyprus is a Business Centre in the crossroad of three continents, including the emerging markets of Middle and Far East
Modern and advanced telecommunications network.