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Offshore Company Set Up. The Benefits of Setting up an Offshore Company

An offshore company can offer many benefits and advantages to its owner that would otherwise be impossible to attain without it. With the rise of globalization, setting up an offshore company has become ever more advantageous and easier to accomplish. The benefits to gain from an offshore company will always depend on the the jurisdiction of the offshore company and to a certain extent, it will also depend on the laws of the country of residence of the company’s owner. It is therefore necessary that you not only pay attention to the offshore jurisdiction but that you also consider your local laws to make sure that every step you take is in line with the law.

KGN Services specializes in Offshore Company Setup, establishment of branches of foreign companies and opening bank accounts.

The Major Reason

The major reason people setup offshore companies is to take advantage of international laws. Lots of people falsely assume that offshore companies are all about money laundering and tax evasion, but this can’t be any further from the truth. There are fundamental laws that are necessary in every society, and such laws are always somewhat identical worldwide, like marriage, age of adulthood and criminalization of theft and murder. But when it comes to money and business practices, there is really no internationally accepted standard or code of ethics that a government should follow in the management of its economy and the businesses within it.

Many countries in need of foreign capital and investments have fashioned laws that make their local business climate attractive in one way or the other, especially for well to do foreigners. By becoming properly educated about these different laws, you can then decide to legally take advantage of them by setting up an offshore company of your own. Some of the favorite offshore destinations of the world include Anguilla, Seychelles, Belize, The British Virgin Islands, The Cayman Islands, Cyprus, Denmark, Dominica, Gibraltar, Ireland, Hong Kong, The Netherlands, Nevis, New Zealand, Seychelles, Singapore, Panama, The Marshall Islands, The United States of America and The United Kingdom.

The U.S.A. and the UK are interesting jurisdictions for an offshore company setup, for non-resident individuals who are not really interested in tax havens but rather want to make use of the other benefits of having an offshore firm.

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Cyprus Company Registration Prices

Cyprus Company Formation Package Includes:

Starting at: €1790

Cyprus Ready-Made Companies

We have a number of Cyprus ready-made companies available as of today.

Why Choose KGN Services?

We’ve been helping business owners since 1996

Incorporating your business is our focus

We make a complex process fast and easy

We work closely with Companies Registries to guarantee our service

Fastest offshore companies & accounts – Most competitive pricing worldwide

People Also Ask

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

Cyprus company registration costs starting at 1790 EUR (incl. Nominee Director).

How do I register a company in Cyprus?

The formation of the company must be finalised before registering a company. Afterwards, an application must be submitted to the Cyprus registrar.

Is Cyprus Offshore?

Cyprus is not offshore. Cyprus is not a tax haven, so it’s not considered to be an offshore jurisdiction.

How much tax do you pay in Cyprus?

There’s a corporate tax that a company would need to pay in Cyprus. Since it’s not a tax haven, this low and favourable tax is required and must be paid.

Interested in Offshore Company Formation?

Services related Cyprus Company Formation

KGN Services provides the following services related Cyprus Company Registration:

Cyprus Company Formation – Set up a company and open a bank account in Cyprus

Cyprus has become a target for individuals and corporations who want to start their businesses in places with low taxation rates. Cyprus is among the many countries with the lowest corporate tax rates across the European Union, with a 12.5% tax rate, attracting many businesses to take an interest in starting a company in Cyprus.

Cyprus Company Registration

There’s an increasing amount of interest in building a company in Cyprus these days thanks to their favourable low tax rate. Additionally, because of this tax rate, Cyprus has become the gateway to the European common market, which is chosen by various non-EU companies and corporations. It also serves as the portal for investment to countries from the West, through to Russia, South America, Middle East, and Asia.

The Advantages of Company Registration in Cyprus

Many companies have arisen in Cyprus for a number of reasons, but mainly because of the tax rates implemented in the country. Additional advantages of having a company in Cyprus include:

1.Companies and entrepreneurs are allowed to legitimately conduct their business and be subjected to a low corporate tax rate.

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

3.Companies in Cyprus can also benefit from the network of double taxation treaties where almost 60 countries are signatories, including the UK, the US, China, Canada, Russia, and many more.

How to Register a Company in Cyprus

Registering a company in Cyprus is unexpectedly easy. Although a Cyprus company registration is completely different from a Cyprus company formation, the registration completes the company formation itself.

When registering a company, you have two main options: to start a new company or to use a pre-formed one in Cyprus. Generally, the registration proceeds as follows:

To be able to fully conduct business in Cyprus, a Cyprus company must be registered with the Cyprus Registrar of Companies. Once the necessary procedures for Cyprus company formation are finalised, the Cyprus company registrar search will start. The company shall submit an application to the Cyprus Registrar of Companies to apply for company registration.

How to Register a Company in Cyprus

To be able to fully conduct business in Cyprus, a Cyprus company must be registered with the Cyprus Registrar of Companies. Once the necessary procedures for Cyprus company formation are finalised, the Cyprus company registrar search will start. The company shall submit an application to the Cyprus Registrar of Companies to apply for company registration.

How Much does it Cost to Register a Company in Cyprus?

You might be asking yourself, ‘how much does it cost to open a company in Cyprus?’. Generally, for a new organisation, registering a company in Cyprus starting at 1790 euro.

A Registered Cyprus Company

After a company is fully registered, there’s a need to further register for VAT. What is VAT in Cyprus? It’s a tax in Cyprus that consumers pay and reflects on the cost of a product. In Cyprus, VAT is set at 19%. When all necessary registrations and applications are made, the company will finally gain a Cyprus company registration number. The registration number is proof that the company is legally registered and allowed to run its business. The Cyprus company registration number format usually has nine characters, eight of them being numbers, and the last character is always a letter.

Cyprus – General Information

Location: Middle East, island in the Mediterranean Sea, south of Turkey; note – Cyprus views itself as part of Europe; geopolitically, it can be classified as falling within Europe, the Middle East, or both.

Area: total: 9,251 sq km (of which 3,355 sq km are in north Cyprus), land: 9,241 sq km, water: 10 sq km.…

Natural resources: Copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment.
Population: 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 European law supremacy.
 
International organization participation: 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 most important 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 appraisals of hydrocarbon deposits in Cyprus’ exclusive economic zone (EEZ), which estimated gross mean reserves of about 130 billion cubic meters. Though exploration continues in Cyprus’ EEZ, no additional commercially exploitable reserves have been identified. Developing offshore hydrocarbon resources remains a critical component of the government’s economic recovery efforts, but development has been delayed as a result of regional developments and disagreements about exploitation methods.

Currency: Euro.

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