ESTABLISHMENT OF OFFSHORE COMPANY

Establishment of offshore company. The advantages of setting up an offshore company

An offshore company can provide the owner with many benefits that would otherwise be impossible to achieve without it. With increasing globalization, it has become more and more advantageous and easier to set up an offshore company. The benefits of an offshore company will always depend on the jurisdiction of the offshore company and to some extent also on the legislation of the country where the owner of the company resides. It is therefore necessary that you are not only aware of the offshore jurisdiction, but that you also consider your local legislation to ensure that all your steps are in accordance with the law.

KGN specializes in setting up offshore companies, setting up branches of foreign companies and opening bank accounts.

The most important reason

The main reason people create offshore companies is to take advantage of international laws. Many people mistakenly assume that offshore companies are all about money laundering and tax evasion, but that couldn’t be further from the truth. There are basic laws which are necessary in every society and such laws are always roughly the same throughout the world, e.g. marriage, age of majority and criminalization of theft and murder. But when it comes to money and business practices, there really isn’t any internationally accepted standard or code of ethics that a government should follow in managing its economy and the businesses that are covered by it.

Many countries in need of foreign capital and investment have designed laws that make their local business climates attractive in one way or another, especially to wealthy foreigners. By being properly informed about these different laws, you can decide to take advantage of them legally by setting up your own offshore company. Some of the favorite offshore destinations in the world include Anguilla, Seychelles, Belize, British Virgin Islands, Cayman Islands, Cyprus, Denmark, Dominica, Gibraltar, Ireland, Hong Kong, Netherlands, Nevis, New Zealand, Seychelles, Singapore, Panama, Marshall Islands, USA and Great Britain.

The USA and the UK are interesting jurisdictions for setting up an offshore company for non-residents who are not interested in tax shelters, but who want to take advantage of the other advantages of having an offshore company.

Do you have questions? Need advice?

Send an inquiry or request a confidential recall using the contact form at the bottom of this page.

Prices for registering companies in Cyprus

Package for setting up a company in Cyprus includes:

Check whether the intended company name is available and thus possible to register

Initial business approval

Preparation of application documents

Registration of a standard company with a maximum share capital of €1,000 including court fees and stamp duties

Transfer of subscribers’ shares

Allocation of new shares appointment of directors

Furnishing of the registered office

Submission of statutory declarations and issuance of share certificates

Nominee director (resident in Cyprus)

Secretarial service for 1 year

From: €1790

Why choose KGN?

We have been helping business owners since 1996

Our focus is to incorporate your business

We make a complex process quick and easy

We work closely with the company registers to guarantee our service

Fastest offshore companies and accounts – The most competitive rates worldwide

People also ask

How much does it cost to register a company in Cyprus?

Registration costs for a company in Cyprus start at EUR 1790 (incl. nominee director).

How do I register a company in Cyprus?

The company formation must be completed before a company can be registered. An application must then be submitted to the Cypriot Registrar.

Is Cyprus offshore?

Cyprus is not offshore. Cyprus is not a tax haven, so it is not considered an offshore jurisdiction.

How much tax do you pay in Cyprus?

There is a corporation tax that a company must pay in Cyprus. Since it is not a tax haven, this low and favorable tax is required and must be paid.

Are you interested in setting up an offshore company?

Services related to Cyprus Incorporation

KGN offers the following services in connection with the registration of companies in Cyprus:

Company formation in Cyprus

Registered office services

Secretarial service

Nominated shareholder / nominated director

Opening bank accounts

Complete Cyprus Company Administration Services

Mailing address

Virtual office

Bookkeeping and auditing

VAT registration

EORI registration

Trademark registration

Family office

Company formation in Cyprus – Create a company and open a bank account in Cyprus

Cyprus has become a destination for individuals and companies who want to start their business in places with low tax rates. Cyprus is among the many countries with the lowest corporate tax in the entire EU with a tax rate of 12.5%, which attracts many companies to be interested in starting a business in Cyprus.

Registration of companies in Cyprus

There is a growing interest in setting up a business in Cyprus these days thanks to the favorable low tax rate. Moreover, due to this tax rate, Cyprus has become the gateway to the common European market, which is chosen by various companies and companies from countries outside the EU. It also acts as a portal for investment to countries from the West to Russia, South America, the Middle East and Asia.

The benefits of company registration in Cyprus

Many businesses have sprung up in Cyprus for various reasons, but primarily because of the tax rates introduced in the country. Other advantages of having a company in Cyprus include:

1. Companies and entrepreneurs are allowed to operate legally and are subject to a low corporation tax.

2.Companies registered in Cyprus have the option to be registered with a full 100% ownership.

3.Cyprus businesses can also benefit from the network of double taxation agreements signed by almost 60 countries, including the UK, USA, China, Canada, Russia and many more.

How to register a company in Cyprus

Registering a company in Cyprus is surprisingly easy. Although a Cypriot company registration is completely different from a Cypriot company formation, the registration is an end to the company formation itself.

When you need to register a company, you have two main options: to start a new company or to use an already established company in Cyprus. In general, registration takes place in the following way:

Application for a company name

Incorporation

Establishment of bank accounts

In order to conduct business in Cyprus, a Cypriot company must be registered in the Cypriot Register of Companies. Once the necessary procedures for establishing a company in Cyprus are completed, the search for the Cypriot company registrar begins. The company submits an application to the Cyprus Registry Office for registration of a company.

How to register a company in Cyprus

How much does it cost to register a company in Cyprus?

You may be asking yourself: “How much does it cost to open a business in Cyprus?”. In general, the registration of a company in Cyprus for a new organization starts at 1790 euros.

A registered Cypriot company

When a company is fully registered, it is necessary to register further for VAT. What is VAT in Cyprus? It is a tax in Cyprus that consumers pay and which is reflected in the price of a product. In Cyprus, VAT is set at 19%. Once all the necessary registrations and applications have been made, the company will finally get a Cypriot company registration number. The registration number is proof that the company is legally registered and has permission to operate. The Cypriot company registration number usually consists of nine characters, eight of which are numbers and the last character is always a letter.

Cyprus – General information

Location: Cyprus considers itself part of Europe; geopolitically, it can be classified as part of Europe, the Middle East, or both.

Area: total: 9,251 km2 (of which 3,355 km2 in northern Cyprus), land: 9,241 km2, water: 10 km2.
Natural resources : Copper, pyrite, asbestos, gypsum, timber, salt, marble, clay pigment.
Population: (July 2017 est.): 1,221,549 (July 2017 est.).

Capital: Nicosia.

Time zone: UTC+2.

Languages: Greek, English

Government type: Presidential democracy.

Legal system : Mixed legal system of English common law and civil law with the supremacy of European law.

Participation in international organisations: Australia Group, C, CD, CE, EBRD, ECB, EIB, EMU, EU, FAO, IAEA, IBRD, ICAO, ICC (National Committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF , IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NAM, NSG, OAS (Observer), OIF, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO , UNHCR, UNIDO, UNIFIL, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO.

Economy : Tourism, finance, shipping and real estate have traditionally been the main services. Cyprus has been a member of the EU since May 2004 and adopted the euro as its national currency in January 2008. In October 2013, a US-Israeli consortium completed preliminary assessments of the hydrocarbon deposits in Cyprus’ Exclusive Economic Zone (EEZ), which estimated gross average reserves of approx. 130 billion cubic meters. Although exploration continues in the Cyprus EEZ, no further commercially exploitable reserves have been identified. The development of offshore hydrocarbon resources remains an important part of the government’s economic recovery efforts, but development has been delayed by regional developments and disagreements over exploitation methods.

Currency: Euro.

KGN | Offshore company in Cyprus | Company formation in Cyprus