Services
- Audit and assurance
- VAT related services
- Taxation and international tax planning
- Accounting
- Management consulting
- International Trusts
- International Business company services
Cyprus for Commercial reasons
- Membership of European Union as from 1 st May 2004
- Anonymity of the beneficial owners of a company
- High standard of banking system
- Freedom from exchange control
Cyprus for tax reasons
- The lowest tax system in the European Union at 10 % on taxable profits
- One of the most favorable Holding company jurisdiction(even a small holding of 1 % in foreign companies entitles the Cyprus Holding company to enjoy substantial tax benefits)
- Availability of Group losses relief without any time restrictions, under certain conditions
General or Limited Partnership
Procedures for setting up a partnership:
The procedure to set up an international business partnership is similar to that explained earlier under the section "Limited liability companies."Disadvantages of partnerships
The main disadvantage of the partnership is that the partners have unlimited liability and that is the reason why they are seldom used.Limited partnerships
To avoid the disadvantage of unlimited liability partnerships, investors wanting limited liability decide to set up a limited liability partnership.Under a limited liability partnership, individual partners can be limited liability partners, while a Cyprus International Business entity can be a general partner with unlimited liability.