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Idea Holiday & Home Finder Ltd
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Company Buying Property
  • Cyprus IBCs can be the owners of properties situated in Cyprus and/or abroad in which case 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 companies
  • 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 (34 countries)
  • no exchange controls