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Advantages of jurisdiction:
Setting up a new company on the island can be done quickly and remotely, with minimal cost and personal involvement in the process.
To incorporate a company in Cyprus, you do not have to visit the country in person. With the rapid introduction of online systems, the entire process of setting up a company can take place remotely.
There is no clear requirement for the minimum amount of share capital of a company. It is determined individually and depends on the size and specifics of each particular company. For example, you can indicate in the share capital as low as 1000 euros.
All required certificates and certificates of incorporation can be provided in English.
It takes only 48 hours to obtain a VAT number. It allows you to deal with your European counterparts on much more favourable terms and increases the level of confidence in your company.
The islands legislation allows for nominee shareholders and directors, providing considerable privacy for investors.
The ability to redomicile a company from another jurisdiction. If you intend to relocate your company internationally, you can transfer your existing company to Cyprus.
Cyprus is not blacklisted by the OECD, so your business will operate in a reputable jurisdiction on a perfectly legal basis.
This country has one of the most loyal tax policies in Europe. So, owners of island firms can count on zero tax on income from securities transactions, real estate re-registration, income from subsidiaries and foreign branches, etc. The local government has done everything possible to encourage international businessmen to not only do business but also to live on the island.
You can always close a company with minimal bureaucratic procedures.
All closed companies can be restored to the commercial register within 20 years.