Offshore Company Formation – An Option for Tax Benefits

One of the most common reasons why you will find many companies in offshore company business is tax advantages. Companies search for new tax savings basins from where they can operate without obligations towards government or other law enforcement agencies of the land. Offshore company formation is a relatively new concept, as it is there for last 2-3 decades, but the kind of surge it has got in last one decade is quite remarkable. Many companies search for tax jurisdictions from where they derive a higher ROI, which propel their business in a win-win situation.

Recently, many such jurisdictions came into existence. These jurisdictions allow companies to setup offshore units in a very hassle free manner, which attracts many other new entities. After induction of Cyprus into European Union, this Mediterranean island country has become one of the hottest destinations for offshore companies.

When you or your company is looking for expansion as offshore company formation, you are the last person to be worried about. Nowadays you will find consultants who literally bring your work down to understanding and signing documents. Consultants are thorough professionals with load of experience on their back, who can help you in all legal formalities of setting up Cyprus company formation. Their proficiency in setting up offshore companies, managing offshore bank accounts, setting up trust etc. is unparalleled.

What makes Cyprus company formation a beneficial business deal?

Cyprus at present is among one of the most trusted tax jurisdiction, which is recognized by EU’s onshore businesses and authorities. Cyprus being a part of EU has other major benefits. Most important aspect of being Cyprus company formation helps companies get investors and association with business tycoons. This area has high potential of rising as a focal point of world business in the years to come; therefore global investors are also prompt in financing projects in this island country.

• Cyprus legal service providers are very efficient and fine professional in their territory. Also the fiduciary setup of Cyprus is an effective one.
• In past Cyprus was considered as offshore tax shelter, but after induction of this island nation in EU and acceptance of the Euro improved Cyprus’s prospect as one of the most preferred offshore company formation in the world.
• Around 45 countries have signed double tax agreement with Cyprus. Among these countries US, Canada, United Kingdom, Russia, India, China and various other developing and developed counties are important ones. This double agreement system works as a tax evasion gateway for offshore companies.
• Double tax agreement is acceptable in most countries around the world which includes European Common Market counties and other European Union directives.
• Cyprus has 10% corporate tax, which is least in whole of EU.
• As Cyprus company formation you can register a company by using shared capital. However, shares are allowed to permit ownership provided stockholders are engaged to the maximum with firm. This ownership will only cease once payments are completed on original shared amount.

So, with this much of benefits there is no doubt why Cyprus is one of most favoured offshore tax shelter for many companies.

Author Resource:

Perry Crowley has pointed out to the growing trend of offshore company formation that provides several noteworthy advantages to businesses. The author favors Cyprus as an offshore destination for incorporating a business. For Cyprus company formation, he recommends the services of Genshape Management Limited that is having a wealth of international business experience in a wide selection of countries.