Incorporation in Cyprus
Setting up a company in Cyprus
We noticed some years ago that our members were getting some pretty bad deals on legal and accounting services in Cyprus and decided to create Hügge Consult to ensure a fair service that matches the requirements of most digital entrepreneurs.
Cyprus has made it very attractive for digital nomads or simply individual business with a favorable tax system ofr corporate and individuals, while having a startup-friendly 60-day rule setup, which means that individuals spending at least 60 days a year in Cyprus, under certain conditions, is considered a Cypriot tax residence. In other word a perfect way to establish your startup. The standard corporate tax rate is 12.5%, one of the lowest levels in the EU.
A correct setup is important, and it can be done in a certain way that supports the modern digital lifestyle. We know the procedure and have expert partners on the side, so that you can focus on your business.
Other benefits besides the Cyprus weather
Tech companies producing Intellectual Property (IP) can apply for an 80% tax exemption, reducing the corporate tax rate to an effective 2.5%. Tax rates for individuals are among the lowest in the European Union.
No income tax is required on the first €19,500 of personal income.
Non-domiciled tax residents do not pay tax on dividends, interest or rental income earned abroad.
Investments in innovative small businesses can be deducted from taxable income, up to an annual limit of €150,000.
Dividend payments are exempt from taxation, enabling most tech entrepreneurs to minimize their overall tax burden.