Cyprus Offshore

Published on Tuesday, November 02nd, 2004
Offshore Investment » Offshore Tax Havens

Summary: Both the Republic of Cyprus & the Turkish Republic of Northern Cyprus offer certain offshore opportunities - both to the individual and those interested in investing in Cyprus.

Cyprus OffshoreA consideration of the offshore opportunities in Cyprus.

Both the Republic of Cyprus & the Turkish Republic of Northern Cyprus offer certain offshore opportunities - both to the individual and those interested in investing in Cyprus.

Republic of Cyprus Offshore

The Greek Cypriot controlled ‘Republic of Cyprus’ continues to offer a wide variety of offshore possibilities and opportunities to international investors and businesses despite its entry into the EU in May 2004.

From the formation of offshore entities to the registration of ships under the Cyprus flag, from the establishment of offshore banking units to international commercial arbitration and the establishment of offshore trusts.

Cyprus in recent years has developed widely as a centre for international and offshore business.  Cyprus offers a unique combination of offshore and tax efficient advantages for the conduct of the affairs of internationally focused individuals and businesses worldwide.

Furthermore, an offshore entity incorporated in Cyprus can enjoy a low taxation treatment, can benefit from a very high number of double taxation treaties and a high level of professional services together with the respectable status of the Cyprus registered entity.

Turkish Republic of Northern Cyprus Offshore

The Turkish Cypriot controlled ‘Turkish Republic of Northern Cyprus’ (TRNC) also offers a fairly broad range of offshore advantages to businesses and individuals alike.

Some of the general advantages of North Cyprus are: -

The government of North Cyprus actively encourage and promote the development of North Cyprus as an international fiscal and business centre.  Therefore legislation is liberal, enterprise is welcome.

Anonymity, privacy and confidentiality of beneficial owners of offshore entities is assured.

These entities are exempt from exchange control restrictions.

These offshore entities and their expatriate staff are free to maintain transferable bank accounts in any currency in North Cyprus and abroad.

Offshore entities and their expatriate staff can import or purchase locally any office and household equipment and cars free from custom duty.

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