Cyprus non-dom tax residency + US LLC for internet business?

[Researcher]

What are benefits to getting Cyprus non dom tax resident status as individual and running a US LLC for internet business?

Are there any benefits of this over Cyprus non dom tax resident status with Cyprus registered LLC?

 

[Sols]

A lot of non-doms in Cyprus don't declare their offshore companies as tax resident in Cyprus (even though they probably are) and thereby don't pay the 12.50% corporate income tax. Cyprus isn't lifting any fingers to pursue non-doms at this point. That might change but probably not anytime soon.

Even so, many people opt for a Cyprus company because of ease when it comes to SOF/SOW declarations, because it's technically the right thing to do, because running an offshore company isn't quite as scalable in some cases, and so on.

 

[GrumpyMess]

A lot of non-doms in Cyprus don't declare their offshore companies as tax resident in Cyprus (even though they probably are) and thereby don't pay the 12.50% corporate income tax. Cyprus isn't lifting any fingers to pursue non-doms at this point. That might change but probably not anytime soon.

A lot of things have changed unexpectedly, so it may be soon. The company can be unmanaged during person's 60 days stay in Cyprus, that's why tax office is skips these persons. It's very strange that no one has published a response from the tax office on this issue.

 

[Sols]

A lot of things have changed unexpectedly, so it may be soon.

First time in Cyprus?

The company can be unmanaged during person's 60 days stay in Cyprus, that's why tax office is skips these persons. It's very strange that no one has published a response from the tax office on this issue.

The tax office doesn't respond. They have never officially said to non-doms to keep not paying tax. They just prefer their frappe and smoke breaks over bothering mostly wealthy foreigners that bring value in other ways.

Welcome to Cyprus. Siga-siga.