Just to clarify Cyprus is not a tax haven. And that’s exactly what is attractive. Tax havens are generally black listed, Cyprus has a number of tax incentives but at the same time does not hold the risks of tax haven jurisdictions.my question is... why is cyprus considered such a strong tax haven?
I don't see the major perks exactly. 12.5%... is good, but not great, with better options even in the EU, and certainly much stronger options worldwide.
I don't see what the hype is with cyprus exactly? What's the major reasons so many choose apparently it?
It has it's own category section on this website -- why?
Sorry if missing something obvious, I'm new to researching cyprus.
No, the company has to pay 12.50%. You pay yourself dividends on your cash reserves, which is how much the company has in the bank minus liabilities (such as costs and taxes).So if i operate a general trading company in cyprus -- I can simply call all my company's profits dividends right? And pay them out to me the principle shareholder as a dividend payment.
And then I'm essentially paying 0% corporate tax... and 2.65% personal income tax.... And i just need to lease an apartment there year round... and stay there a total of 60 days per year to be tax resident right?
Banks are not friendly but if you're resident and not engaged in anything they don't like (crypto, gambling, adult), you should be able to open an account with Bank of Cyprus, Hellenic, or Alpha.And bank accounts are ok to open in cyrprus for my company? Banks are friendly?
Wonder if it would be possible to obtain non domicile status for this company in Cyprus if the UBO also not live there, so it will be 0% tax if that has not changed?But for an active trading company selling products from china to USA -- I cannot avoid the 12.5% corporate tax rate no matter how I structure it?