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Cyprus Company Formations

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Cyprus is locatedin the heart of the Mediterranean and is the third largest island after Sicilyand Sardinia. Its capital in Nicosia. It has good avaition links. Theofficiallanguage is Greek, Turkish and English. English is wide used in commerceindustry and Government.Cyprus joined theEuropean Union a long with Malta in May 2004 and like Malta has also adoptedthe Euro replacing the Cypriot Pound. Its legal system is modelled on theBritish system.

The beneficialowners of a Cypriot company  may remainconfidential under certain conditions such as shareholders being corporateIt has manydouble taxation agreement. Shelf companies are also available. When a privatecompany is wholly foreign owned it is referred to as an IBCHere are some ofthe features of an International Business Company ( IBC )

Minimum subscribed members   one
Minimum number of directors one
Need for directors to be locally based   no but local director is advisable
Company Secretary Requirement       Yes and local is advisable
Usual  Authorised Share Capital  8543 euros
Paid up Share Capital requirement     1708 euros
CorporationTax  10%
Government Fee  nil
Accounts Required        Yes
Requirement to file accounts        Yes
Audit Required    Yes
Annual Return         Yes

We at RoyalCompany Formations would be happy to assist you in all your Corporate needs inCyprus
 
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