Cyprus
Cyprus is a European jurisdiction with attractive tax laws and a number of advantages for tax planning.
On the island, you can register a Limited Liability Company (LTD). This is the most popular type of enterprise and must have a limited liability symbol in its name, i.e. Limited/Ltd.
To register a company with management outside Cyprus, a director is needed – a private person / enterprise, a non-resident of Cyprus. All business activity and source of income must be outside of Cyprus. Local loans to Cypriot firms are not allowed and all local payments are recorded. Annual invoices and reports are sent to the Central Bank. According to innovations in the legislation, a non-resident company pl A company managed in Cyprus is a tax resident.
The director is an individual or a company resident in Cyprus, and the shareholder can be either domestic or foreign (individual or firm).
Advantages:
-it is a European jurisdiction with a favorable tax environment for non-residents;
-information about the beneficiaries of a registered company in Cyprus is confidential and is not contained in a public register;
-the island’s authorities hold the image of an open state in front of the Financial Action Task Force on Money Laundering (FATF) and the Organization for Economic Cooperation and Development (OECD).