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Q&A: 5 Answers about Establishing/Expanding a Company in Cyprus | Case of Cyprus

1. What is the suitable location for an entrepreneur?

In modern financial trends, businesses are constantly seeking new opportunities and possibilities. The choice of the right location for establishing or expanding a business is more critical than ever. And this is where Cyprus comes to the fore.

2. Why should someone choose Cyprus to establish their company? What advantages does its internationalism provide?

In Cyprus, we succeed in operating in a stable tax environment, where corporate tax is 12.5%, the dividend distribution tax is zero, and there are significantly reduced employee social security contributions of around 25%. Of course, we cannot overlook the avoidance of double taxation between Greece and Cyprus for Tax Resident Foreigners, as well as the taxation of worldwide income.

3. Can you provide an example (case solution) of one of your clients?

Mr. Manolis attempted to establish a company in Cyprus with the goal of providing support as a Web Developer for a major project in the United States. By undertaking the Accounting support for his company, we managed to apply the provisions and provide Personalized Tax Planning to avoid Double Taxation between Greece and Cyprus, saving him €28,000 in extra tax burdens and fines.

4. What should one pay attention to when establishing a company abroad, specifically in Cyprus?

It is important that the company harmonizes with the applicable tax and insurance legislation. This is achieved by certain expenses that enhance the company’s status. Such expenses are considered necessary services for the Physical Headquarters of your Company, such as renting a professional office, utility bills, creating a website for the Cypriot company, uniform corporate identity, registration in corporate directories in Cyprus, etc. Business tools that document your business in terms of the tax mechanism.

5. What process is followed after the establishment of a company in Cyprus?

Immediately after the company is established, we conduct a tax seminar for the entrepreneur, adjusting Tax and Insurance obligations to the state of Cyprus, their business activity, and the goals they want to achieve. The tax seminar is repeated annually and ad hoc, in case there are changes and modifications.

We proceed with an analysis of the comparative chart illustrating the tax and insurance burdens, resulting in the net income of the entrepreneur.

Why Epidosis?

Great experience since 1986

We have the necessary experience to organize and implement your business idea.

360° Services

We offer complete solutions, from the establishment of a company to its legal representation.

Personalised Tax Planning

We tailor our tax planning to your specific needs in order to achieve the right result.

High Specialization

Our considerable experience in setting up a company abroad is our passport to ensuring that your new venture is a complete success.