64, Lordou Vyronos Street, Mylonas Tower, 1st Floor
6023 Larnaca, Cyprus
Tel. +357 24656496
Fax. +357 24656281

Tax Planning

Anastasios Z. MYLONAS & Co LLC, provides superior services relevant to your tax structures.

We provide tailored to your needs structures as to be benefited from the tax advantages of the Cyprus regime. Through our associates we can build structures involving various jurisdictions as to meet your needs. We consult on the development of a viable International Tax Strategy, in conjunction with your overall corporate strategy. Our consulting covers:

  • Corporate taxes
  • Withholding taxes
  • Capital gains taxes
  • Capital and transfer taxes
  • Transfer pricing issues
  • Double tax treaty issues
  • EU Directives and tax planning
  • Trusts and corporate tax planning
  • Trusts and personal tax planning

The widely known structures involve a Cyprus International Company, in which the characteristics are shown below.

Cyprus International Business overview

The International Business Company is considered as non-resident for exchange control purposes and it can operate freely foreign currency bank accounts with any bank in Cyprus or abroad.

The net profits of the company are liable to income tax at the rate of 12.5%. Whereas tax is paid abroad, a double taxation relief is provided.

The beneficial owners of International Business Companies are not liable to additional tax on dividends or profits over and above the amount paid or payable by the respective company.

No capital gains tax is payable on the sale or transfer of shares in an International Business Company. No estate duty is payable on the inheritance of shares in an international business company in the case of the death of a shareholder. No capital gains tax is paid by the transfer of immovable property owned abroad (outside Cyprus).

International Business Companies do not pay stamp duty on documents which relate to transactions connected with their normal overseas activities.

An International Business Company does not pay on its net profits any kind of special contributions or defense contribution.

Royalties paid by the Cyprus International Business Company to non-residents are not subject to withholding tax if the use of such rights is outside Cyprus.