• Cyprus IBCs can be the owners of properties situated in Cyprus and/or abroad

There are many tax and other benefits

Cyprus IBC: definition

• IBC is a legal entity which is established by non-resident individuals or corporations. There is no limitation any longer in conducting business activities outside Cyprus only. They have all the rights of local co.
• IBC may maintain offices in Cyprus or may operate from the offices of its Accountants/ Auditors

Taxation & Benefits to IBCs'

• low taxation of income - uniform tax rate of 10% on net profit
• UK corporate tax scale 19%-30%
• no withholding tax on dividends
• able to registered for VAT purposes
• all revenue expenses incurred for the earnings of income are allowed as a tax deduction
• full estate duty exemption on inheritance shares
• full stamp duty exemption on contracts
• Income from permanent establishment abroad is exempt from income tax in Cyprus
• Losses can be offset against profits from other activities. Tax losses can be carried forward & set off against taxable income without any limit
• low income tax for expatriate employees
• duty-free facilities (company car, office equipment etc)
• large number of double taxation treaties
• no exchange controls