Cyprus company tax residence

[Alenka]

Hello everyone!

1. If I have Cyprus company with 0 employees and I (management) was 70 days in Cyprus(ruling the company) and other days other countries but no more than 100 days, will my company be considered as a Cyprus tax resident company?
2. If I want to obtain personal tax residency I have to rent the flat. I have a friend of mine in Cyprus. Can he help me with that? Rent me housing (share) for free on paper? So that I do not pay huge sums for a year of personal housing. Or how is this rule circumvented?

 

[CyprusLaw]

1. The best way would be to appoint a local nominee director, as the main test for a company’s tax residency is to show management and control in Cyprus.

2. With respect to the flat, you can make a rental agreement with your friend to show that you are renting a place in Cyprus.

 

[Alenka]

1. The best way would be to appoint a local nominee director, as the main test for a company’s tax residency is to show management and control in Cyprus.

2. With respect to the flat, you can make a rental agreement with your friend to show that you are renting a place in Cyprus.

Can they rental agreement be for free? Or like 1$ per month?

 

[CyprusLaw]

Can they rental agreement be for free? Or like 1$ per month?

The best way for the agreement to be drafted will be decided and explained to you by your lawyer and by your accountant.