Cyprus relaxed compliance and tax environment has attracted the interest of hundreds of Israeli businessmen who travel to Cyprus several days per week to contact their businesses. With the flight lasting of less than an hour and the low set up costs for obtaining access to the entire Europe through the use of a Cyprus Company, Cyprus seems to be the old-time favourite for the business community of Israel.
The considerably less strict Cyprus Regulator (CySec) of Investment and Forex Companies (especially when compared to the United Kingdom and New York regulators) made Cyprus an International Hub of Forex Companies especially amongst the Israel people who enjoy the regulatory, business and tax advantage Cyprus has to offer to their Investment or Forex companies.
Over the years we have experienced extensively the usage of Cyprus companies as holding of investments or acting as parent companies of various other companies in numerous jurisdictions. The 0% Dividend Tax Paid amongst group companies (in the vast majority of cases) and the group loss reliefs available seem to be the key factors for the usage of such companies.
In order to protect the anonymity of the directorships of multi-jurisdictional companies, some of our Israel clients use Cyprus Companies as the directors. These companies like any other Cyprus companies need to prepare accounts and audited financial statements as well as to comply with all local Tax and Registrar laws, like any other Cyprus company, even if they do not actually carry out trade. "Edit Content" from the Edit (Pencil Icon) Action Menu.
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