Recommended Offshore Jurisdictions:
Cyprus
When establishing an offshore company or a Branch of a foreign company in Cyprus details of beneficial ownership must be provided to both the registration agent and the Central Bank of Cyprus. However, if nominee directors and shareholders are used no information need be on public record save that relating to the said nominees.
At the time of registration, personal bank references and passport photocopies will be required together with details on the type of business activities. Under local law information appertaining to beneficial owners cannot be released under threat of penal consequences. In addition, the accounts submitted to the Central Bank at the end of the financial year are also strictly confidential.
Nevertheless, the Cypriot authorities will release information Mere illicit transactions are involved once the proper procedures have been followed, however, Cypriot courts will not enforce another country's civil tax claims. Bank & Jurisdiction Confidentiality Rating: 4 Stars
Bank System Rating: 3-4 Stars |
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