| FORMATION OF CYPRUS IBC (OFFSHORE)
What is an international business company (IBC)? (Offshore)
The term international business company (or offshore business)
refers to any legal entity whose beneficial ownership and business
activities lie outside the country of incorporation i.e.
- its shares must belong directly or indirectly exclusively to
aliens, and
- its income must be derived from sources abroad and business
carried out outside the country of registration. However if the
shareholder of the company is a European
citizen then the company is allowed to carry out its activities
also within Cyprus.
- IBCs (offshore business) are legal, recognized by the authorities.
- The procedures of establishing and operating such entities are
simple and related costs low.
- Incorporating
an IBC (offshore company)
as a vehicle for your corporate
or private business enables you to operate anonymously and without
many of the restrictions involved in "onshore business".
- It offers substantial tax benefits
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