An International Business Company is a legal entity incorporated in Cyprus, that:
- is owned beneficially by non-residents, either directly or through nominee shareholders
- performs its business activity exclusively outside Cyprus.
A Cyprus IBC enjoys certain tax and non-tax advantages that make it a very attractive entity for international tax-planning purposes.
The establishment of a Cyprus IBC requires that a specific 2 stage procedure is followed for:
- obtaining a Central Bank of Cyprus permission
- incorporating the IBC with the Registrar of Companies
The whole process for the establishment of an IBC, provided that all required documentation is in place takes around 10 working days.
