I'm looking to sell my Cyprus company as it is no longer needed. I figured out it would be easier for me to sell it than to dissolve/close it and also it may be a good for someone who is looking to setup a new company (as it's way quicker and has a working bank account right away) or for someone that's looking to cut on some taxes by the end of this year (more about that down below).
So, the company was formed on 25th April 2017 by a reputable law firm with 30+ years of experience with the formation of Cyprus companies. Nominee director and shareholder was used since the formation.
The law firm is also a partner of Bank of Cyprus so the bank account was opened on 2nd June 2017 easily, without any issues and without any substance (office or employees in Cyprus). The cooperation with the law firm or the bank was good all the time and we never experienced any issues. VAT ID number was issued on 14th August 2017.
Company was formed for an online business (running an online website/portal). At one point, I decided to move my business to some other location and I now have this company that has no use for me any more (but might be useful to someone else).
The company never had any issues: no legal or tax issues, it never did any shady or unlawful things. All obligations were paid on time. It's as clean as it can be. Last year the company had a profit of €400k+ and paid about €65k in tax. All the accounting and auditing was done according to the standards by a authorized local accountants/auditors.
This year's sales income is only one invoice of about €3k and the costs are roughly €80k so this year a company will report a loss of about €77k. This might also be interesting for a potential buyer as he will pay no tax on these €77k (by the end of this year). That alone can save at least €9.5k in taxes (Cyprus CIT of 12.5% on 77k) but can be more depending on where the buyer has his other company/funds (depending on the CIT from the source country), but in general will save taxes on the first €77k.
The name of the company is pretty good, but that can be changed if needed. Company has no website. It has a verified postal address on Google Business.
Company levy (and other things) are paid until 25th April 2022.
Looking to sell it quickly, for the price of forming a new company.
For all inquiries or question please ask here or contact me at [email protected]
So, the company was formed on 25th April 2017 by a reputable law firm with 30+ years of experience with the formation of Cyprus companies. Nominee director and shareholder was used since the formation.
The law firm is also a partner of Bank of Cyprus so the bank account was opened on 2nd June 2017 easily, without any issues and without any substance (office or employees in Cyprus). The cooperation with the law firm or the bank was good all the time and we never experienced any issues. VAT ID number was issued on 14th August 2017.
Company was formed for an online business (running an online website/portal). At one point, I decided to move my business to some other location and I now have this company that has no use for me any more (but might be useful to someone else).
The company never had any issues: no legal or tax issues, it never did any shady or unlawful things. All obligations were paid on time. It's as clean as it can be. Last year the company had a profit of €400k+ and paid about €65k in tax. All the accounting and auditing was done according to the standards by a authorized local accountants/auditors.
This year's sales income is only one invoice of about €3k and the costs are roughly €80k so this year a company will report a loss of about €77k. This might also be interesting for a potential buyer as he will pay no tax on these €77k (by the end of this year). That alone can save at least €9.5k in taxes (Cyprus CIT of 12.5% on 77k) but can be more depending on where the buyer has his other company/funds (depending on the CIT from the source country), but in general will save taxes on the first €77k.
The name of the company is pretty good, but that can be changed if needed. Company has no website. It has a verified postal address on Google Business.
Company levy (and other things) are paid until 25th April 2022.
Looking to sell it quickly, for the price of forming a new company.
For all inquiries or question please ask here or contact me at [email protected]
