Cyprus

At a Glance

The island of Cyprus is the third biggest in the Mediterranean (9,250 sq km). Cyprus has a nearly ideal Mediterranean climate, with more than 300 warm, sunny days a year, and a brief, mild winter with occasional rain.

Types of Companies

The relevant legislation is Cyprus Companies Law, Cap. 113, which is virtually a copy of the English 1948 Companies Act. A private company is one which by its articles restricts the right to transfer its shares, limits the number of its members to 50 and prohibits any public subscription to shares or debentures.

Offshore Legal and Tax Regimes

The offshore regime in Cyprus has changed as part of the island's accession to the EU, and as a result of agreements with the Organisation for Economic Cooperation and Development (OECD). Cyprus was excluded from the OECD's June 2000 'harmful' tax haven blacklist in return for pledging a commitment to amend its tax practices.

Further Information

At a Glance

Types of Companies

Offshore Legal and Tax Regimes