Office rent for Cypriot companies
The territory of Cyprus is widely known thanks to the transparency of its legal framework, execution of the standard rules specified by the European Union, and the Organization for Economic Cooperation and Development (OECD). A comfortable taxing scheme of this country has quite a significant influence on its popularity too.
In order to obtain a benefit from the agreements of the dual taxation absence, according to the typical OECD convection, a company, which was registered in Cyprus, has to be an actual owner of the revenue distribution and the tax resident of the country it was registered in.
During the process of the formation of the company in Cyprus, a business owner, as well as his tax consultant, will have to take into account how the “real” office rent should be brought into life, which will make it possible to use a bottom tax rate in 12,5% of the corporate tax in Cyprus.
The party, which was registered in Cyprus, has a simple implementation scheme. According to it, the management and the control confirmation which is carried out in Cyprus, together with the tax authorities payments, is deemed to be that Cypriot company.
How to rent an office in Cyprus
Thus, for the purpose of avoiding any negative consequences because of the absence of an office, as well as to evade high tax rates, it is needed to take into consideration the important factors of the successful office rent by the Cypriot organization.
The first key to the negative implications avoidance is to make sure that the executives of the facility are all qualified specialists – their biggest fraction also has to consist from the residents of Cyprus. Another important aspect is the presence of the employees, which must be socially insured and take part in the company’s working life. Both the employees and the working space have to be insured. Another requirement is an office – you have to have your own company’s headquarters in Cyprus. You would necessarily need a website, which has to contain your actual email address, phone and fax numbers. In addition to the listed measured, don’t forget to create one of the organization’s financial accounts held by a Cypriot banking establishment with the native resident as a signatory.
It’s very important to conduct the annual audit by the Cypriot auditors, who work for the Institute of the Certified Public Accountants of Cyprus (ICPAC).
You have to take all of the listed points seriously, as soon as they’re the essentials for the substantial company’s plan realization. However, the decisions of such importance have to be elaborated by the experienced accountants and tax consultants.
If you need help with the company’s office rent in Cyprus, our specialists will gladly provide you with the professional help.