International Tax Planning
We can help you with:
- International Tax advice and structuring for investments and transactions
- Reviewing and advising on existing and/ or proposed structures
- Analysis and interpretation with regard to the applicability of double tax treaties and EU Directives
- Tax advice for non-resident and non-domiciled individuals planning to work and live in Cyprus
- Obtaining Tax Ruling from the Cyprus Tax Authorities
- Obtaining Tax Residency Certification
- Substance services.
Cyprus has inevitably attracted many multinational corporations, small / medium enterprises and high net worth individuals as it offers one of the most favourable tax regimes in Europe.
Cyprus acceded to the European Union in 2004 and its tax regime is fully compliant with EU and OECD regulations.
Given the considerable benefits of a Cyprus relocation, it is no surprise that the number of companies choosing to base their headquarters on the island has steadily risen in recent years.
These benefits include:
- Strategic geographic location, at the crossroads of three continents – Europe, Asia and Africa and a business-friendly time zone
- EU Membership
- High standard of living, low crime rate (one of the lowest in the EU), very good education and health care systems
- Excellent transport and telecommunications networks
- Highly educated, qualified, multilingual workforce and efficient business environment
- Modern banking and legal infrastructure
- Business-friendly legal and tax environment
- One of the lowest flat Corporate Tax rates in the EU, at 12,5%
- Tax-exempt gains from the sale of securities [exempt from taxation]
- No withholding tax on interest and dividends paid to non-residents
- No withholding tax on royalties granted for use outside Cyprus
- No inheritance and gift taxes
- No capital gains tax, except on gains from the sale of immovable property in Cyprus or from the sale of shares of a company owning such property
- Extensive network of Double Tax Treaties, with more than 50 countries.
Cyprus company designations in international tax structuring vary. The main ones are Holding Company, Trading Company, Financing Company, Intellectual Property Holding Company, Securities Trading Company, and Ship Owning and Management Company.