Cyprus is an island nation in the eastern Mediterranean. It is best known for its sunny beaches and breathtaking mountain ranges. Most of Cyprus' income comes from tourism, exporting goods and selling real estate. The main languages ​​in Cyprus are Greek and Turkish. English is spoken by most of the population.

Company formation
It usually takes about 5 days to set up a company
The minimum share capital of EUR 1000 and usually authorized capital of EUR 5000
To maintain tax residency in Cyprus, a local director of the company is required and board meetings must be held within Cyprus.
The secretary must be or acquire a resident of Cyprus in order to maintain his tax residency in Cyprus

Information on the tax system
Cyprus corporate tax is 10% and is one of the lowest corporate taxes in the European Union.
The following activities are not taxable in Cyprus:
Profits from the sale of listed securities.
Receiving dividends for a Cypriot company.
Interest that does not arise from the ordinary course of business or is not directly related to the main activity of the company.
Cyprus has a double taxation treaty with more than 40 countries.
For more information on the Cypriot tax system or related questions, please contact us.

Company management
There is no annual fee to be paid to the state to run a business. Only the submission of annual returns is required according to the following rules:

A company registered before July 1st must submit the annual financial statements for the previous year to the tax office by December 31st of the following year.
a company registered after July 1st must submit the financial statements for the previous years to the tax authorities before December 31st two years later.

https://www.baltic-legal.com/offshores-company-cyprus-eng.htm