Global business in Cyprus

[worldbiz]

Hi everyone,


I am EU citizen established in the UK. I am starting an online travel marketplace where travelers all over the world will buy tours from travel agents all over the world. As a global business I thought I could try to incorporate the business in Cyprus to benefit from lower taxes. I would like to ask for your advice concerning two points:


1. Is it really advantageous to incorporate in Cyprus since I will bring the profits back to the UK?


2. Will I be able to operate the company from the UK managing forex transfers to travel agents' bank accounts all over the world from a Cyprus bank?


Thanks for your advice.


Best regards.

 

[JohnLocke]

Well for the profits the company generate there is an advantage but for personal income you need local tax advise to accomplish it. Many use a Cyprus company for the purpose to reduce their tax burden in Europe.