Cyprus is an island nation in the eastern Mediterranean. It is best known for its sunny beaches and breathtaking mountain ranges. Most of Cyprus' income comes from tourism, exporting goods and selling real estate. The main languages in Cyprus are Greek and Turkish. English is spoken by most of the population.
Company formation
It usually takes about 5 days to set up a company
The minimum share capital of EUR 1000 and usually authorized capital of EUR 5000
A local director of the company is required to maintain tax residency in Cyprus and board meetings must be held within Cyprus.
The secretary must be or acquire a residency in Cyprus in order to maintain his tax residency in Cyprus
Information on the tax system
Cyprus corporate tax is 10% and is one of the lowest corporate taxes in the European Union.
The following activities are not taxable in Cyprus:
Profits from the sale of listed securities.
Receiving dividends for a Cypriot company.
Interest that does not arise from the ordinary course of business or is not directly related to the main activity of the company.
Cyprus has a double taxation treaty with more than 40 countries.
For more information on the Cypriot tax system or related questions, please contact us.
Company management
There is no annual fee to be paid to the state to run a business. Only the submission of annual returns is required according to the following rules:
A company registered before July 1st must submit the annual financial statements for the previous year to the tax office by December 31st of the following year.
a company registered after July 1st must file financial statements for previous years with the tax authorities before December 31st two years later.
Singapore, a global financial hub has drawn several US expats to its borders.
At present, about 26,500 US citizens are living here.
This post will tell you about taxes for US citizens living in Singapore and tax benefits and Singapore taxes.Let's know about tax rates for Singapore:Rate Amount0% On SGD 1 - SGD 20,0002%.
SGD 20,001 - SGD 30,0003,5% SGD 30,001 - SGD 40,0007% SGD 40,001 - SGD 80,00011,5% SGD 80,001 - SGD 120,00015% SGD 120,001 - SGD 160,00018% SGD 160,001 - SGD 200,00019% SGD 200,001 - SGD 240,00019,5% SGD 240,001 - SGD 280,00020% SGD 280,001 - SGD 320,00022% SGD 320,001 and upThe income tax levels for people are low in Singapore compared to many countries.
The system here is progressive.Who qualifies as a resident of Singapore?US expats are considered residents of Singapore for tax reasons if they worked or lived here a minimum of 183 days.
Also, non residents have their tax calculated at a rate of 15 percent, then pay the greater of that tax or the tax mentioned above.
offshore company formation in Dubai is less complicated than the mainland and free zones.
Dubai Offshore companies or business is an amazing tax-efficient and cost-effective structure for traders who want to set up foreign business.
Offshore company set up in Dubai and other jurisdiction can be easy system.
However, it requires you to understand the laws and regulations for offshore company formation in UAE.Offshore company is also known as the non-resident company which signifies it cannot occupy an office space in the UAE.
As you already know Cyprus is an island, so the simplest, most common and most importantly the cheapest way to get food Cypriots have at their fingertips.
The island is surrounded by a crystal clear sea, where many species of crustaceans and molluscs live, which are highly valued in many cuisines of the world.Cypriot cuisineAlmost every town in Cyprus, and especially in the main tourist centers of the island, there are many restaurants, taverns and bars serving dishes of both regional and international cuisine.
Generally speaking, in Cyprus you eat abundant but unsophisticated dishes.
Disappointed gourmets staying in the south will be comforted by excellent beer, brenda and Cypriot wine.
An interesting fact worth noting is that in the northern part of Cyprus restaurants serve slightly lighter meals and more willingly experiment with less known dishes.More original and carefully prepared dishes should be sought in restaurants run by immigrants (especially in the north, where excellent and ingenious cooks from Pakistan work), as well as in secluded corners of villages in the south, where local residents are served by rural restaurants, called exochika kendra, which offer a modest but very good menu.
The meze, the bar version of these delicatessen, is served in turn on no more than twenty small plates, which are reported to where the customer does not feel full.
