WHY SET UP COMPANIES IN OFFSHORE
AND FOREIGN ONSHORE JURISDICTIONS

There are a number of reasons why more and more business entities are using foreign companies incorporated in offshore or onshore jurisdictions. Whether it is the predictable and understandable legal environment, simple accounting and tax systems or better enforcement of the law, Czech companies are relocating their headquarters or simply setting up offices abroad. Reduce your administrative burden, get rid of unnecessary bureaucracy and focus on what you do best – your business. If you invest in cryptocurrencies, we offer our services related to the establishment of a company whose business is cryptocurrency trading.

THE MAIN ADVANTAGES OF USING AN OFFSHORE COMPANY INCLUDE

  • Absolute confidentiality of information
  • Property protection
  • Low or zero income tax
  • No inheritance or gift taxes
  • Protection against inflation
  • Limitation of legal obligations
  • Reduction of operating costs
  • No restrictions on the handling of foreign exchange
  • Support and relief from local government
  • Access to North American and European capital markets
  • No restrictions on international trade
  • No tax return required
  • No import/export limits
  • No costly bureaucracy

NEWS

Cyprus – current information

Annual Levy 2022 The deadline for the payment of the Annual Levy for the year 2022 is extended until 31 December 2022, without the imposition of any additional penalty, as voted on 30 June 2022 by the House of Representatives Register of beneficial owners The Department of the Registrar of Companies and Intellectual Property of the Ministry of Energy, Trade and Industry, informs the business community that the operation of the interim solution for registration in the Register of Beneficial Beneficiaries for companies and other legal entities will continue beyond July 31, 2022 and until the implementation of the final solution for which the Department will make an announcement soon. It is recommended that those companies or other legal entities that have not yet fulfilled their obligations to update the Register of Beneficial Beneficiaries based on the provisions of Directive KDP112/2021 of the Comptroller of Companies, hurry to do so. With the commencement of operation of the final solution, the provisions of article 11 of the Directive are automatically implemented, which provides for the imposition of a financial burden on the company and each of its officials, for failure to comply with the relevant provisions of the Directive, as well as the provisions of article 61A(10 )(f)(i) of the Prevention and Combating of Money Laundering Law of 2007, which provides that failure to fulfil the obligation to submit information on the beneficial owners of companies and other legal entities constitutes a criminal offense.

CONTACT US

London

Nicosia

Tel.: + 357-220-30-900    E-mail: cy-office@afinex.eu

Ramat Gan

Tel.: + 972-33-74-1113    E-mail: il-office@afinex.eu

Moncton

Tel.: + 1-506-801-1012    E-mail: ca-office@afinex.eu

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