New Developments For The Cyprus Limited Liability Companies

Cyprus is and has been for many years now an established International Business and Financial Centre because of the incentives, the good infrastructure, and its considerably extensive network of Double Tax Treaties (DTTs). Cyprus EU membership and compliance with EU and OECD standards, in line with its most favourable tax regime and transparent legal system, places Cyprus amongst the most favourable jurisdictions.

Cyprus standard Corporate Tax rate of 12.5%, which is one of the lowest tax rates in the European Union, makes the island ideal for international tax planning purposes.

As it is well known, and as a general principle of international taxation, a Company is primarily subject to tax in the country where it is considered tax resident. Therefore, in Cyprus, a Company is considered to be tax resident in Cyprus if its management and control is exercised in Cyprus.