Cyprus company and a Nominee, Foreign or Local?

[guest]

This is one of the frequently asked questions we receive on a daily basis so we decided to make a block post about it for the public interest and the clients who consider to incorporate a Cyprus company but require more help and information before they are able to take a decision.


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[drillbill]

When do I need a foreign nominee?
If you have incorporated your company in Cyprus and you personally don’t want to be listed on any public company register, and nor do you want to pay any corporate tax, then you will need to appoint a nominee shareholder and director who are NOT resident in Cyprus. This is a much more expensive service for a startup company; however, if you do your maths then you will see that you don’t need to make a very high profit before you have earned this money back several times over.


What are the downsides of a foreign nominee?


The company can’t be registered for VAT.


Your can’t get a tax certificate in Cyprus for the company.

This can be accomplished with a Seychelles company even if I want to be registered fro VAT correct?

 

[clemens]

Yes I did so. Seychelles Holding acting both Director and Shareholder in the Cyprus company, latter is registered for VAT


Use a nominee if you want to protect your identity otherwise forget about it.