BVI or Cyprus

[akshdalal]

After getting lots of replies from other members, I have decided to be part of either Cyprus or BVI. Comparing 'Cyprus' and 'BVI' company, which one will be better if I will invest in 'Beverages' business?

 

[JohnLocke]

A Cyprus company will most often look more legit towards business partners and customers while a BVI company will have better tax benefits.

 

[akshdalal]

I will prefer BVI, as I want to pay least possible taxes to government. Will it hurt on longer terms?

 

[taruniis]

In my opinion, you will not lose anything if you are going to pay your taxes right. It may not be good on your sheets but you can just imagine the help that you giving to a country. Having a clear conscience is sometimes better than having a profit-loaded business.

 

[clemens]

In my opinion' date=' you will not lose anything if you are going to pay your taxes right. It may not be good on your sheets but you can just imagine the help that you giving to a country. Having a clear conscience is sometimes better than having a profit-loaded business. [/quote']
Depends very much on the point of view.... I prefer to have a loaded business

 

[clemens]

I will prefer BVI' date=' as I want to pay least possible taxes to government. Will it hurt on longer terms?[/quote']
No not at all, it depends on what you want to use the company for. From what I read a BVI company can be perfectly fine for your use.

 

[taruniis]

Depends very much on the point of view.... I prefer to have a loaded business

That is right but how are you going to feel when you know that not all the profit are yours anyway? Paying taxes is a responsibility.

 

[akshdalal]

I don't wish to evade taxes, just reduce them legally! But looks like I will have to do this only if my profits would be bare minimum.

 

[JohnLocke]

You can legally reduce the tax burden by consulting a tax adviser who knows about tx rules in your local country and in the offshore jurisdiction where you incorporate. In your case I would only look at what benefits each jurisdiction has for your business setup. BVI or Cyprus!

 

[jorge]

It's not a problem to reduce taxes when setting up a Cyprus offshore company. Actually you can move your money between several entities without to pay tax if you just do it the right way!

 

[JohnLocke]

It's not a problem to reduce taxes when setting up a Cyprus offshore company. Actually you can move your money between several entities without to pay tax if you just do it the right way!

That's possible, also you will need some documents in place and the right structure. That said, a BVI company can be used for the same purpose. However, you want to look at who you are doing business with and if they have any troubles with a BVI company.

 

[marcel]

If you have a small budget a BVI company is the jurisdiction to go, a Cyprus company costs more and you will have more costs also each year to maintain the company!

 

[pontiacG8]

The BVI is cheaper to maintain because you don't have to file any tax report each year or do book keeping! Cyprus is a more trusted country to have your company incorporated. It depends on the business activity what jurisdiction will work best for your business I say.

 

[pontiacG8]

That's possible, also you will need some documents in place and the right structure. That said, a BVI company can be used for the same purpose. However, you want to look at who you are doing business with and if they have any troubles with a BVI company.

I agree, we were able to get our TOTAL tax rate down to 4% in the company structure we setup. Before we connected our business to offshore structures we paid 25% corporate tax and aprox 40% personal income tax!

 

[Cauddyensutty]

Doing business in Europe it seems Cyprus is one of the better places to establish your company and business and preferred over any offshore jurisdiction like BVI seems to be(I'm still new into all this so forgive me if I'm wrong) Cyprus seems to be more recognized and an onshore jurisdiction so it is offshore.

 

[ImKing]

BVI is good for Internet markting biz. Cheaper and easier to manage.

 

[Sany zeth]

Beverage business.. hmm have you taken the license of beverage business?