Cyprus Offshore Companies

<BODY><P><FONT COLOR="#990000">Cyprus offshore companies have several featuresthat distinguish them from other offshore companies, making Cyprus a morepreferable location for the incorporation of offshore companies.</FONT><P><B><FONT COLOR="#990000">Cyprus Geography and Politics</FONT></B><P><FONT COLOR="#990000">Cyprus is an independent state located in theEastern Mediterranean. It has been an important trading post for over 2000years as it is situated in the center of three continents. Europe, Africaand Asia.</FONT><P><FONT COLOR="#990000">Greek is the first language but English is alsospoken by most people, particularly in commercial circles, as Cyprus wasa former British colony.</FONT><P><FONT COLOR="#990000">The economy is now thriving. Light industry, agriculture,tourism and finance all contribute.</FONT><P><B><FONT COLOR="#990000">Taxation</FONT></B><P><FONT COLOR="#990000">Cyprus offshore companies (i.e. those owned by non-residents,and deriving their income from outside Cyprus) are subject to 4.25% taxon their profits. However, in practice, careful planning can reduce thisto zero. This makes Cyprus a low tax jurisdiction rather than tax freejurisdiction.</FONT><P><FONT COLOR="#990000">Cyprus Corporate law is similar to the EnglishCorporate law, as the Cyprus Companies Law is based on the English Company'sAct of 1948.</FONT><P><FONT COLOR="#990000">As Cyprus companies are low tax rather than notax they enjoy far greater commercial freedom to do high profile internationaltrade. Cyprus has concluded double taxation treaties with over 26 countries.</FONT><P><FONT COLOR="#990000">Cyprus offshore companies must have a registeredoffice in Cyprus. They are usually structured with nominee directors, secretaryand shareholders whose details are placed on public file. This type ofstructure guarantees total confidentiality on Company records.</FONT><P><FONT COLOR="#990000">The beneficiary's details remain confidentialand are not placed on public file although they must be disclosed to theCentral Bank of Cyprus. The beneficiary may be a natural person or corporatebody. Cyprus has strict commercial secrecy laws and Central Bank employeesare bound by law not to divulge privileged information to any third party.</FONT><P><FONT COLOR="#990000">It is through these CONFIDENTIALITY requirementsthat Cyprus companies enjoy a greater international reputation than othercompanies in other jurisdictions.</FONT><P><FONT COLOR="#990000">Cyprus also benefits from a modern banking systemand has a growing reputation as an offshore financial center.</FONT><P><B><FONT COLOR="#990000">SHAREHOLDERS</FONT></B><P><FONT COLOR="#990000">A minimum of two shareholders are required anddetails appear on the public file but anonymity can be retained by theuse of nominee shareholders. Bank references on the beneficial owners mustbe submitted to the Central Bank of Cyprus but these details are protectedby secrecy laws.</FONT><P><B><FONT COLOR="#990000">DIRECTORS</FONT></B><P><FONT COLOR="#990000">A minimum of one director is required and detailsappear on the public file but anonymity can be retained by the use of thirdparty directors.</FONT><BR><FONT COLOR="#990000"> </FONT><BR><B><FONT COLOR="#990000">TIME SCALE</FONT></B><P><FONT COLOR="#990000">Normally it will take approximately 4-7 workingdays from the receipt of bank references on the beneficial owners for incorporationto be achieved. Ready made companies are available but the requirementto provide bank references on the beneficial owners means that such companiescannot be activated until references have been received in Cyprus.</FONT><P><B><FONT COLOR="#990000">FURTHER INFORMATION</FONT></B><P><FONT COLOR="#990000">For more detailed information on Cyprus offshoreentities, please click on the appropriate link in the left frame. Alternatively,you can contact us for more information.</FONT><P><FONT COLOR="#990000"> </FONT><P><FONT COLOR="#990000"> </FONT><BR> <CENTER><FONT COLOR="#FF9900"> </FONT><B><FONT COLOR="#000066"><FONT SIZE=+2>Chambers& Co</FONT></FONT></B></CENTER><CENTER><FONT COLOR="#000066">Advocates & Legal Consultants</FONT></CENTER><CENTER><FONT COLOR="#000066">Corner Kaningos & Olympion Str.</FONT></CENTER><CENTER><FONT COLOR="#000066">Themis Tower,</FONT></CENTER><CENTER><FONT COLOR="#000066">3737, Limassol, Cyprus.</FONT></CENTER><CENTER><FONT COLOR="#000066">Tel: +357 5 358515</FONT></CENTER><CENTER><FONT COLOR="#000066">Fax: +357 5 358518</FONT></CENTER><CENTER><FONT COLOR="#990000"> </FONT></CENTER><CENTER><FONT COLOR="#990000"> </FONT><IMG SRC="enve.gif" HEIGHT=31 WIDTH=61></CENTER><CENTER><FONT COLOR="#990000"><A HREF="mailto:richard.chambers@virgin.net">E-Mail</A></FONT></CENTER><CENTER> </CENTER><CENTER><FONT COLOR="#990000"><A HREF="http://vzone.virgin.net/richard.chambers/o100.htm">Backto our Home Page</A></FONT></CENTER><UL><UL><UL><UL><UL><UL><UL><UL><CENTER> </CENTER><CENTER> </CENTER><CENTER> </CENTER></UL></UL></UL></UL></UL></UL></UL></UL><CENTER> </CENTER><CENTER><B><FONT FACE="Times New Roman,Times"><FONT COLOR="#000000"><FONT SIZE=-2> </FONT></FONT></FONT></B></CENTER><CENTER><B><FONT COLOR="#000000"><FONT SIZE=-1> </FONT></FONT></B></CENTER><CENTER> </CENTER><CENTER> </CENTER><CENTER> </CENTER><CENTER> </CENTER><CENTER> </CENTER><CENTER><FONT COLOR="#000066"> </FONT></CENTER><FONT COLOR="#000000"> </FONT><BR> </UL></UL></BODY></HTML><P><B><STRONG><FONT SIZE=+1>cyprus offshore companies,incorporation and managementservices. offshore companies Cyprus</FONT></STRONG></B></P><P> </P><P><B><STRONG><FONT SIZE=+1>CYPRUS OFFSHORE COMPANIES, offshore companies in cyprus;incorporation, formationand management services.</FONT></STRONG></B></BODY>