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REDOMICILIATION OF A BVI COMPANY TO CYPRUS

A BVI company shall register with the Tax Authorities in Cyprus if it is managed and con-trolled from Cyprus. Once becoming a Cyprus Tax Resident, a BVI company has the same obligations under the Law as all Cyprus Tax resident companies, such as:

[a] Preparing annual audited financial statements under IFRS.

[b] Filling a tax form every year based on the audited financial statements.

[c] Declaring and paying tax on its worldwide income.

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