Cyprus – Why and for Whom?? 2023-06-27T09:08:40+00:00

Cyprus – Why and for Whom?

THE SCF GROUP HAS BEEN FORMING AND MANAGING CYPRIOT COMPANIES FOR OVER 25 YEARSCYPRUS – WHY & FOR WHOM?

Why? Notwithstanding the banking and financial crises that hit Cyprus after the 2008 Economic Crash, it has successfully rebounded and now enjoys a much more stable economic environment. Unlike Ireland, it is not anticipated that Cyprus will specifically gain from the UK’s departure from the EU but nonetheless it’s liberal corporate and capital gains tax policies together with its continued full membership of the EU will offer many attractions especially for the smaller more cost sensitive client.

The advantages of using a Cypriot company are many but include:
  1. Lack of bureaucracy – Its historic connection with the UK has ensured that Cyprus has far less bureaucracy than that of most continental countries
  2. Ready Made Companies are available quickly or Own Name Companies in around 8-12 weeks
  3. English is the main business language of Cyprus
  4. The Cypriot common law system is almost the same as that of the UK and is therefore considered to be much more business friendly than the slow and codified civil law system in Continental Europe
  5. Cyprus, like Ireland fully benefits from EU Directives and Regulations
  6. The Corporate Tax rate is 12.5%
  7. Capital Gains Tax generally only applies to Cyprus property and assets and not on the sale of international assets and/or shares
  8. Individual taxation can be very advantageous for foreign residents

For Whom? Cyprus is ideal as a holding/investing and/or trading location especially for smaller and online business activities. Where required our Cypriot office can provide a full range of management and control services without the inherent costs associated with opening up their own office in Cyprus.

PRIORITY ENQUIRY FORM

(Strictly Confidential No Obligation)

    SCF Legal & Corporate Management Services Limited

    Address: 250 Kings Road, Chelsea, London SW3 5UE

    Telephone: 020 7731 2020   Email: enquiries@scfgroup.com

    Registration number: 05462416

    © SCF INTERNATIONAL 2023

    A FULL RANGE OF LEGAL, ACCOUNTANCY & COMPANY MANAGEMENT SERVICES

    The SCF International  specializes in providing accountancy and management services for UK and Irish limited companies, UK & Irish company management services including the provision of (where necessary) domestic directors, domestic company secretaries, registered office address services, trading offices, value added tax (VAT) registration and management, payroll (Pay as You Earn PAYE), opening up and managing UK or Irish bank account facilities, raising  invoices and any and/or all other services required to establish a bone fide managed and controlled UK or Irish limited liability company.

    Our in-house team of legally and accountancy qualified experts can also provide advice on current UK & Irish tax laws/provisions including anti-avoidance provisions, EU directives and regulations, the impact of BREXIT for both UK and EU based businesses and other relevant. In addition, where required the SCF Group can also set-up and arrange the management of companies in tax efficient EU based jurisdictions such as Cyprus, Luxembourg or Malta or indeed any jurisdiction in the world including those in the Middle and Far East.

    Property de-enveloping services – In conjunction with leading UK firms of solicitors SCF can help transfer companies currently held by what were known as ‘offshore’ companies into either more tax efficient UK companies or directly back into the names of individual beneficial owners’ often without attracting stamp duty land tax (SDLT) but still avoiding the advance tax on enveloped dwellings (ATED).

    Our fiscal migration and tax planning department is operated by qualified lawyers and accountants and can advise both domiciled and non-domiciled individuals on how to mitigate their individual and corporate tax exposure be it in the UK or abroad. Our legal & business department can provide specialized advice on all domestic and international tax planning issues but also upon ‘key’ issues such as asset protection be it in the form of trusts and private interest foundations (PIF’s). In particular, SCF can provide advice to those intending to relocate to the UK on how to do so in the most tax efficient way.

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