Having the lowest corporate tax rate in the EU, re-domiciliation of foreign (tax heaven) companies to Cyprus is a new trend which has growing momentum.
A foreign company can apply to the Registrar of Cyprus Companies to continue its existence under the jurisdiction of Cyprus, only if its Memorandum specifically provides for this.
An important advantage is that the business of the company can continue without interruption and therefore there will be a significant saving in administration and other costs.
Such re-domiciliation of Companies can be for both private and public companies, provided that their Memorandum of Association, or Constitution, allows re-domiciliation.
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