Cyprus has been an off-shore jurisdiction until 2004. Since 2004 Cyprus is a member State of the European Union. With one of the lowest corporate income tax rates in the EU, probably the best banking services in the EU, no tax on dividends for non-residents, a relatively low incorporation cost and an «off-shore like» business spirit Cyprus is the ideal jurisdiction in the EU to register your new company. Cyprus companies are European companies providing the seriousness and flexibility you need to conduct business internationally.