Why Choose Cyprus For Setting Up An Investment Firm?

Why Choose Cyprus For Setting Up An Investment Firm?

The regulatory authority that grants the authorization of a Cyprus Investment Firm (CIF) is the Cyprus Securities and Exchange Commission (CySec) and the legal framework for the registration and operation of a CIF is the Cyprus Investment Firms Act of 2002.

A CIF can provide services and activities within Cyprus and abroad. The services that can be provided by a CIF are investment services and ancillary services.

Factors that attract investors to register a CIF:

Low Taxes in Cyprus

  • CIF is a registered company in Cyprus with a corporate tax on net profits of 12.5%, one of the lowest rates within Europe.
  • Tax exemption on dividend income.
  • Dividends, interest and royalties that are paid to non-resident shareholders have no withholding tax.
  • The CIF’s clients can also benefit from zero taxation on income from capital gains.
  • Cyprus has double taxation treaties with more that 50 countries.

Clients

Registration of a CIF grants access to 450 million citizens of the European market and the permission to operate representative offices in any other European Union member state.

Also by obtaining a license from CySec the CIF can have access with both European and Asian clients, if the company is Asian.

Low Costs of setting up a CIF and its on-going operation

Cyprus’ jurisdiction offers a very a low cost for setting up a CIF with the engagement of all professional bodies.

Also, the operation of a CIF is considered 30-50% lower that other jurisdictions.

Time

To obtain a license from CySec for the provision of investment and ancillary services is much faster than in other countries of EU.

The whole procedure from the registration of a company within the Cyprus Company Registrar and until the final approval by CySec takes about 6-8 months.

Michalis Anastasiou
Advocate
09/06/2016

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