Overseas Corp Setup
Overseas Corp Setup Made Easy for Global Entrepreneurs
Expand your business internationally with our comprehensive overseas corp setup services. We provide seamless corporate formation solutions in strategic overseas markets like Cyprus and the Philippines, covering everything from company registration and management to accounting, tax, HR, and compliance. Our expert support ensures smooth, efficient cross-border operations tailored to your business goals.
Cyprus Company Registration
Cyprus company registration offers a streamlined process with favorable tax benefits and easy access to the European market. Understanding the legal and regulatory requirements helps businesses establish smoothly and stay fully compliant.
Philippines Company Registration
Starting your business in the Philippines involves a straightforward Philippines company registration process. From document submission to tax registration, understanding each step ensures smooth incorporation and compliance with local regulations.
Frequently Asked Questions
What are the tax rates for corporations in Cyprus and the Philippines?
As part of your overseas corp setup strategy, it’s important to consider local tax environments. In Cyprus, the corporate tax rate is 12.5%, one of the lowest in the EU. Cyprus also provides tax exemptions on dividend income and capital gains from the sale of securities.
In the Philippines, the corporate income tax rate is 25%, but businesses may qualify for tax incentives depending on their industry or location—particularly when investing in certain economic zones or priority sectors, making it a strategic option for overseas corp setup.
Do I need a local partner to set up a business in Cyprus or the Philippines?
In Cyprus, no local partner is required to set up a business. Foreigners can fully own and operate their companies, making it an attractive option for international investors pursuing overseas corp setup.
Similarly, in the Philippines, foreign ownership is permitted for most types of businesses, but there are restrictions in certain sectors (e.g., mass media, public utilities). However, for some business types, a local partner or entity may be required to comply with specific regulations related to overseas corp setup.
What are the minimum requirements for setting up a corporation in Cyprus and the Philippines?
For an overseas corp setup in Cyprus, you need at least one director, one shareholder, and a company secretary (who can all be foreign). You also need a registered office address and to appoint a local registered agent.
In the Philippines, an overseas corp setup requires at least one director and one shareholder, with a minimum of 60% local ownership required in certain industries, depending on foreign ownership restrictions.
How long does it take to set up a corporation in Cyprus and the Philippines?
In Cyprus, the process of setting up a corporation is relatively efficient. Generally, it takes around 1 to 2 weeks to complete the entire overseas corp setup, provided all necessary documents are in order. This includes choosing a company name, submitting registration forms to the Registrar of Companies, obtaining a tax identification number (TIN), and setting up the required bank accounts.
In the Philippines, the overseas corp setup process can take longer, typically around 4 to 6 weeks. This timeframe includes the preparation and submission of required documents to the Securities and Exchange Commission (SEC), securing a business permit from the local government, registering with the Bureau of Internal Revenue (BIR), and obtaining other industry-specific licenses.
In both countries, engaging Yobbi Consultants can help streamline the overseas corp setup process and ensure all requirements are efficiently met.
Do I need to be a resident to set up a corporation in Cyprus or the Philippines?
In Cyprus, there are no residency requirements for company directors or shareholders. Foreigners can fully own and manage businesses.
In the Philippines, foreign ownership is allowed, but certain sectors require local ownership. Generally, foreign investors can fully own a corporation if the business complies with foreign ownership limits.
What are the reporting and compliance requirements for businesses in Cyprus and the Philippines?
Cyprus has relatively straightforward reporting requirements. Corporations must file annual tax returns, maintain proper accounting records, and submit audited financial statements. Cyprus also has a system of annual renewals for company registration.
The Philippines has more frequent compliance obligations, including monthly and quarterly tax filings, as well as annual financial reporting. Corporations must file with the BIR, and companies operating in economic zones might need additional compliance with local regulations.