Recent content by HSharpe

At the moment no reporting is performed. The money local AML law has obligated business to disclose UBO but the companies law does not. AML law was amended in 2018 or 2019. So it really remains to be seen.

We only have domestic companies in Cyprus. For certain types of operation, the tax leakage can be 0% (e.g. pure holding company) however fro investments and trading you would need to pay some taxes. i think the question to ask yourself is whether you would pay more taxes where you are.

The law tax rate is not for everyone. locals pay taxes at very high rates, at the moment we are at effective tax rate over 45% for income over 60K when you factor in tax, social insurance, special defence contribution etc.

Cyprus does not per se tax the income . . . it taxes the profit! Furthermore, I think these types of structures will raise several bells and whistles from the bankers and the auditors. Also seriously if the annual invoice is 20K and the run rate of the company is 4-10K I don't see the...

I have been working in Cyprus for many years. I think the best approach is to look for someone who has the rates and service level you would like. Sometimes the best for one client is not the best for the next client. Also, a different client might be happy to pay 300.000 on fees because they...

Ireland is not publishing number at the same time when its the second-largest fund jurisdiction in the world. The average wage is 4000 for the cleaning lady

Thank you for the mention of my site! Proposed laws are circulating in the Greek Language. I have been meaning to write up an article but never got around to it!

Only applicable to Cypriot domiciled individuals. None Domicile individuals are exempt from this.