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- International Business Companies are taxed at 4,25% on their taxable profits up to and including year 2005. After 2005 will be taxed at between 0 - 10%.
- The minimum authorised and issued (paid up) share capital required for Cyprus International Business Companies (IBC's) is CYP1.000 but if the company is to open an office in Cyprus then the minimum authorised and issued share capital must be CYP 10.000.
- In accordance with Cyprus Company Law a company must have at least one registered shareholder.
- For a foreign person to become a shareholder (or for one of our nominee companies to hold shares for him) a permit from the Central Bank of Cyprus is required.
- There is no minimum number of Directors. Our firm provides local Director if the client wish us to act in this capacity.
- Iacovou & Co. can offer professional services due to the specialization on the International Business Company Services. The following are the most common services that provided by our firm:
- Registration of Cyprus International Business Company
- Provision of Registered Office and Nominee Cypriot Company Secretary
- Provision of Cypriot Nominee Shareholders
- Provision of Cypriot Nominee Directors
- Preparation and submission of Audited Accounts and other necessary reports
- Bookkeeping services
- V.A.T. Services
- Feasibility Studies
- Other (e.g. opening individual or company's bank accounts
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