General Overview. Having implemented a particularly favourable taxation regime, having joined the EU, and having signed a number of tax and cooperation treaties with Russia, Middle East, China, India and other countries, Cyprus is a high standing jurisdiction chosen by many international entities for offshore business purposes. Geographic location, European business environment and culture, as well as a big number of signed double taxation treaties make Cyprus have significant advantages over other offshore jurisdictions.

Holding Companies. Cyprus is chosen by many international companies as a country for establishing their holding company, as due to low taxes combined with an extensive number of double taxation treaties, Cyprus is a very  attractive jurisdiction.

Banking Sector. For offshore banking purposes, it is possible to establish administrative banking units, subsidiaries or braches of foreign banks, as well as representative offices of international banks.  The government issues an appropriate license to every banking institution, where all the authorized activities and banking services are precisely indicated.

Investment Funds. Investment funds regulations requirements have been amended over the last years, in order to make the industry more secure and more transparent. Different types of companies may be formed for offshore investment management business purposes.

Insurance Sector.  Captive insurance companies must follow regulations of an insurance company, but it may be given further facilitations, such as reduced minimal capital, liquidity and solvency margins. Taxes are not payable in case an offshore captive insurance registered in Cyprus belongs to a foreign owner and profits are derived from an activity conducted abroad.

Shipping Registry.  Ship registration fees of vessels of different types are low, similar to other offshore jurisdictions. Procedures are fast and efficient.