M. Marnerou & Co Ltd minimises your taxation burden. We review your taxation position annually or more frequently if required, in order to provide you with taxation planning advice before the end of the year. Action taken here will allow us to minimise your tax burden as part of your wealth creation strategy. TAXATION & VAT SERVICES We help our clients to plan their tax affairs ahead in order to keep their overall tax burden to a minimum and to comply with the ever changing complex regulations. Tax advice and planning can be provided in all matters of taxation such as Income Tax, Corporation Tax, Estate Duty, Capital Gains Tax and Value Added Tax for both local and International Business Entities. Further, we monitor changes in the local and international Tax legislation and inform our clients of the developments and of possible opportunities.

Tax Benefits

• The lowest tax system in the European Union at 10 % on taxable profits

• One of the most favorable Holding company jurisdiction(even a small holding of 1 % in foreign companies entitles the Cyprus Holding company to enjoy substantial tax benefits)

• Availability of Group losses relief without any time restrictions, under certain conditions

• No withholding tax on dividends paid to non-residents shareholders

• Exemption from taxation of capital gains apart from the disposal of immovable property situated in the Republic of Cyprus

• A sophisticated network of double tax treaties in operation

• Sales of shares and securities are tax free

• No taxation on dividend income

• VAT optional registration allowing them to claim back any VAT imposed on local expenditure and services offered

• Non resident companies are taxed only on the income derived in the Republic of Cyprus

• Salaries from services outside Cyprus for more than 90 days in a non-Cypriot resident employer or in the permanent establishment of a Cypriot resident employer are not taxed in Cyprus

• Low income tax rates for expatriates

• No inheritance tax
  Commercial Benefits
  

Commercal Benefits

• Membership of European Union as from 1 st May 2004

• Anonymity of the beneficial owners of a company

• Availability of English speaking schools High quality standards of professional services

• Excellent telecommunication system

• Freedom from exchange control

• High standard of banking system

• Strategic geographical location being at the cross-roads of Europe, Asia & Africa

• No formalities are present for obtaining work permits for EU citizens

• Provision of professional services at competitive & reasonable prices

• Low operating costs

• Pleasant climate being an island in the northeastern basin of the Mediterranean Sea

• High level of standard of living

• Low crime level

• English language is widely spoken

• Excellent health care system