Following international developments and regulations of the
OECD, EU and other relevant authorities, more corporations are
focusing on structures which incorporate the use of onshore
companies, as opposed to those from offshore jurisdictions. In
connection with this, there has been increased demand for both new
incorporations and the redomiciliation of existing offshore
companies to onshore jurisdictions in Cyprus.
A so-called offshore company may redomicile to Cyprus and
continue its operations under the laws of Cyprus, without winding
up the company in its current jurisdiction. This will open new
opportunities to investors and foreign companies who can take
advantage of the company's operation in its current
jurisdiction and at the same time benefit from being part of the
EU. Companies that redomicile become a Cyprus-resident company and
can benefit from the favourable taxation system offered by Cyprus
and the EU.
