A Cyprus offshore company needs to have one Director and a shareholder. A shareholder and Director may be one person or legal entity, a citizen of any country. AFORTIS Group advises the use of Cypriot Directorships as a nominee service in case the company plans to obtain the status of a tax resident in Cyprus and, accordingly, benefit from double taxation treaties. To get this status, the number of Cyprus-resident directors must be bigger than the number of non-resident directors. For example, if you decided to become a Director of a Cyprus company, you must have at least two directors-residents of Cyprus. The minimum share capital is limited to 1000 EUR, while the minimum nominal value of one share is 1 EUR.
A Cyprus company is not an offshore company. It is obliged to pay a 12.5% corporate income tax at the end of the year, file financial reports and pass an audit. Information about the beneficiaries of the Cyprus company is confidential when using a nominee service.