Registration of a company in Cyprus in most cases requires a personal presence. We also draw your attention to the fact that the establishment of a company is associated with the opening of a corporate bank account, which definitely requires a personal visit to identify and verify potential customers. Maximum income with minimum taxes? Modern Cyprus gives this opportunity to all businessmen and investors. The jurisdiction allows the registration of companies without reference to the current nationality of the founder, which may be an individual or legal entity. The state is one of the few on the territory of the European Union that allows reducing the profitability of a business with the withdrawal of assets to the most favorable areas of activity.
The advantages of the Republic of Cyprus include:
a simple and transparent registration procedure lasting from 4 to 6 working days;
high reputation of the country at the international level (Cyprus is not on any "black list" as an offshore jurisdiction);
lack of regulatory mechanisms to control the activities of CFCs (controlled foreign companies);
favorable conditions for the creation, development of holding structures (there is no consolidation tax);
a nominee service is allowed in order to maintain / enhance the confidentiality of the beneficiary;
assignment of a VAT number (VAT), allowing free trade with any companies in Europe;
complete absence of currency control plus a high level of service in the financial and banking sector;
filing of annual financial statements in accordance with international standards.
More here - https://en.wikipedia.org/wiki/Company
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