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ARTICLE · 09 NOVEMBER 1999

The Practitioners’ Guide To Company Formation In Cyprus

CyprusEnvironment

CONTENTS

INTERNATIONAL ENTITIES
TAXATION AND OTHER ADVANTAGES
TYPES OF ACTIVITY
SHIPPING COMPANIES
INTERNATIONAL BANKING
INSURANCE COMPANIES
INTERNATIONAL TRUSTS

INTERNATIONAL ENTITIES

1. Introduction

The Cyprus Company Law, Chapter 113, is based on the English Companies Act of 1948. Therefore the legal system and return forms are identical to those in the UK.

2. International Business Companies

2.1 Requirements

Shareholders of international business companies should be non-residents and under the Exchange Control Law, the Central

Bank of Cyprus is responsible for issuing permits to such non-residents wishing to acquire equity in legal entities in Cyprus.

2.1.1 Central Bank permit

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