The articles below will give you an overview of the fiscal advantages and business atmosphere in Cyprus. If you wish to set up an holding company in Cyprus, please contact us.

Cyprus Tax Reform 2003
In July 2002 the House of Representatives of Cyprus has enacted the long discussed tax reform. Taxes are reduced substantially, both for corporations and individuals. Major changes in the tax legislation are also effected.
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The Tax Advantages In Establishing a Holding Company in Cyprus
Cyprus is a prime venue for the worldwide operations of multinational corporations, particularly through the use of Cyprus holding companies. The corporate structure involves the ownership of a foreign subsidiary by a resident Cyprus holding company which is in turn owned by a parent corporation.

Why Cyprus?
Cyprus has wisely managed to differentiate itself from tax havens and establish itself internationally as one of the most important low tax jurisdiction. It has therefore managed to escape the suspicions and control of the tax authorities of other countries. The country has enacted Tax legislation which has received the approval of the EU and the OECD, remains away of the various black lists of international organizations (OECD, FATF, etc.) Moreover, it now enjoys one of the highest reputations in the world of international financial centres thanks to rigid controls and supervision and anti-money laundering legislation and regulation.

Tax Residency Status - Declaration for Corporate Customers
The Government of Cyprus has recently introduced major tax reforms in preparation for the country’s accession to the European Union. The new Tax Law became effective as from 1st January 2003. It brought about an important change in the taxation criteria and residency is being determined by the residency basis rather than the source basis as it used to be in the past. Cyprus residents, for tax purposes under the new legislation are considered to be companies which were incorporated and have a permanent establishment in Cyprus, (e.g. there is a fixed business base through which the business activities are carried out partly or exclusively), and are registered with the Registrar of Companies.

Cyprus: Double Taxes Treaties
Cyprus offers a wider network of double tax treaties to companies which operate in the island. These double tax treaties offer many advantages the primary one being that the avoidance of double taxation of income earned in any of the contracting countries.