Lawyers in Cyprus are mostly qualified in the practices corporate law and tax law as many international businesses are moved to Cyprus and therefore there is a high demand on qualified Cyprus lawyers specialized in company incorporations, registration of companies, company formations.
The construction of the Cyprus Tax legislation and its collaboration with the business community is considered relatively easy and direct. The Cypriot Tax Authorities are fair and have a structured operative system. By providing an effective and translucent environment, the Cyprus Tax improves Cyprus’s competitiveness and contributes to making Cyprus an attractive jurisdiction.
The Cyprus Company that is not tax resident in Cyprus does not pay tax, but pays tax in the country in which it is considered to be tax resident.
If the majority of the directors are tax residents and the meetings of the Board take place in Cyprus the company is considered as a Tax Resident in Cyprus. If the Company is Tax Resident in Cyprus, the company takes advantage of the 10% Corporate Tax, of the Double Taxation Avoidance Treaty, the 0% dividends tax, 0% corporate tax on profits from trading in securities like shares or options or bonds, bills etc, capital gains exemptions , no contract stamp duties for many agreements.
Lawyers in Cyprus have wide experience and deep knowledge in this field and can therefore provide accurate advice for each case.
Source: Team of LawyersInCyprus.com
