The term Cyprus International Business Entities (IBEs) refer to entities (whether incorporated or not) established in Cyprus, belonging to foreign individuals or entities. From the legal point of view, the international business entity does not differ in any way from an entity of the same legal form registered in Cyprus and owned by local residents. In fact the term “IBE” is not a legal term but simply a description used for convenience by professionals to describe entities which are wholly owned by aliens and whose activities have a significant international dimension in addition perhaps to local operations.
A foreign individual is a person who is not a citizen of Cyprus and does not hold a permit for permanent residence in Cyprus. An international business entity may take any of the following legal forms:
- Limited Liability company (IBCs)
- Branch of an overseas company
- General or limited partnership