top of page
Cyprus International Business Company
In simple terms, a Cyprus International Business Company (IBC) is a normal limited liability company which is used as a tool, legally, by corporations and individuals throughout the world to direct profits out of high tax countries into offshore jurisdictions or international financial centers thus taking advantage of low or zero tax and double tax treaties. The beneficial ownership and business activities of the Cyprus International Business Company lie inside and/or outside Cyprus.
Employment of Non-EU Nationals
Non-European Union individuals can be employed as long as at least one support staff member is of Cypriot or European nationality, and as long as the non-EU employees and their employers have signed a contract for a minimum duration of 2 years, designating them as essential personnel. The required minimum gross monthly salary is €2500 for each non-EU employee.
The residence and employment permit is initially granted for a period of 2 years, with the capability of renewal.
Obtain Cyprus Citizenship
Non-Europeans’ Employees of a Cyprus International Business Company can submit an application for naturalization after 5 years of residency and employment in the republic, instead of 7 years.
By way of explanation, these is a citizenship by investment program which allows investors to obtain Cypriot passport by setting up an Cyprus International Business Company.
Favorable Tax Regime
Cyprus International Business Companies enjoy substantial tax incentives:
1) Flat rate of 12,5% tax on net profits
2) Zero tax if management and control is outside Cyprus
3) No withholding tax on payment of dividends, interest and royalties
4) Dividend income received is wholly exempt from Cyprus tax
5) Profits from sale of shares and other securities wholly exempt from Cyprus tax
6) Interest received wholly exempt from Cyprus tax (unless it arises from the ordinary course of business)
7) No capital gains tax on sale of immovable property situated overseas
8) No exchange control restrictions
9) Wide network of Double Tax Treaties to avoid double taxation
Why choose Cyprus?
At George C. Stylianou Law Office, we understand that choosing the right location for your business is crucial. That’s why we offer expert legal advice and assistance for those considering doing business in Cyprus. With an attractive tax system, a strategic location, and a stable and open economy, Cyprus is an excellent choice for businesses of all sizes and industries.
bottom of page