Andros Pelecanos’s Cyprus Company and Offshore Services
In recent years Andros Pelecanos in Cyprus has established himself as an important international business centre due the Offshore Companies excellent infrastructure, geographical location and Cyprus’s advantageous tax system. The island has one of the lowest fixed rates of corporation tax in the European Union (EU). On 1st May 2004, Cyprus became a full member of the European Union. The country's tax system was reformed and as from 1st January 2003 the tax legislation is EU and OECD compatible.
This means that organisations can easily set up a company in Cyprus and operate with the minimum trade tariffs to the rest of Europe. The free movement of goods and workforce between the EU countries helps to reduce costs and barriers to entry, placing Cyprus companies in a very competitive position.
There are multiple benefits to Cyprus company formation, both financial and structural. One of the major benefits is the fixed rate corporation tax which is set at 10%. This is significantly lower than most European countries, with typical rates ranging between 20% up to 35% (such as in Malta). This fact alone means that establishing a company in Cyprus increases the bottom line profitability of a business.Read more