According to the Cyprus law, it’s compulsory to have a local registered office in Cyprus. The incorporation documents must be kept at this address. At McMillan Woods, we offer special virtual office packages which include a local address to organizations that cannot open a physical office in Cyprus.
(a) Politically Exposed Persons (PEPs), who hold or have held public office over the past five years.
(b) Persons against whom a criminal investigation was conducted.
(c) Persons under criminal investigation.
(d) Persons sentenced to imprisonment for serious offenses (eg. bribery, tax evasion, etc.), even though the sentence period has expired.
(e) Persons affiliated with legal entities which are under restrictions by the European Union (EU), eg. shareholders or senior executives of companies that are included in a list of sanctions.
(f) Persons affiliated with legal entities which have been restricted by the European Union (EU) but are no longer associated with them, eg. former executives of the companies who, at the time the sanctions regime was introduced, controlled them. This condition does not apply to those who had resigned before the sanctions were imposed.
(g) Persons who have fallen under sanctions by third countries (eg. US, Russia, Ukraine).
(h) Persons related to legal entities who have fallen under sanctions by third countries.
(i) Persons investigated or being under investigation, or those who have been convicted for criminal offenses, including persons wanted by EUROPOL or INTERPOL.
(j) Persons who have fallen under sanctions by the United Nations Security Council (UN).
Cyprus has one of the lowest tax rates in Europe, the efficient legal, the accounting and banking system, the European standard of living, the hospitality, friendliness and the high level of competence of Cypriots as well as the strategic geographical location and the good social and industrial infrastructure are among the factors contributing to the success of Cyprus as an international business centre.