Eraclis Fiduciary Ltd

Cyprus is becoming a very popular choice for businesses to open Cyprus International Business Companies or IBCs (formerly known as 'Cyprus offshore companies') due to its generous tax incentives. 

Cyprus joined the European Union in May 2004 and this, combined with its strategic location at the crossroads with Europe, the Middle East, Africa and Asia, has made it a perfect location for international business companies.

Recently the Cyprus Government by a Council of Ministers directive has decreed that citizens of third countries can secure permanent residence permit by investment.

Its double-tax treaties are particularly beneficial and the further advantages of Cyprus as an offshore jurisdiction include:

• tax benefits - only 12.5% tax rate for companies. Cyprus has one of the lowest tax regimes in Europe.

• confidentiality - the shares can be held by nominees so that your anonymity is safeguarded

• excellent infrastructure, with professional accounting, legal (primarily based on English law) and banking services of a very high standard as well as a very advanced telecommunications network. Cyprus has two airports, in Larnaca and Paphos, providing frequent flights to many destinations, serving a number of international routes.

• with what is probably the best telecommunications network in the Eastern Mediterranean region, Cyprus has through the years managed to develop and maintain a state-of-the-art infrastructure. including Voip, VPN, VSat, leased lines connecting EU countries and the rest of the world, Audiotex, video conferencing, videotext, electronic mail, message handling system X.400 and voice mail services.

• a wonderful climate with long, hot summers and short, mild winters

• high standard of living with excellent, relatively low-cost health care and spacious housing, a beautiful landscape, combining the sea and the mountains.

• high quality private Russian and English schooling for children.

For more information about Cyprus feel free to contact our offices.