Cyprus Company... what does it cost?

[kekmaw]

Hello folks!

I will be opening a Cyprus company within short.
I get paid royalties by a US company which makes Cyprus perfect thanks to the tax treaty with the US, so no withholding tax.

For this reason, my company will be a onshore copmany at Cyprus, I will not live there however.
Because of this, I will need a nominee director etc on Cyprus. I got questions about what it costs however.

I've been talking with a few of the bigger companies like PWC, OCRA etc. Based on the numbers they gave me, it's pretty damn expensive! Not to incorporate, I don't care aobut that one time fee, but the yearly costs of keeping your company running there seems pretty crazy, if I should belive their numbers.

It's the secretary, office, director, complience fees, audit, accounting, all of that would basically cost me €6-8k a year with 300 transactions. Even if we cut out the accounting costs, say outsource that cheaper to a freelancer, it would still cost a bunch.

I would like to hear your experiences with this, people that do run a onshore company at Cyprus?

 

[negon]

Well it costs me roughly 2500 euro every 12 month to maintain the company, accounting and filing of taxes. On top of this there is the Duty Fee from the government that has to be paid aprox 550 euro. That's it. Comparing to what I safe in taxes, the privacy level and various other benefits I get every year from this company I don't mind to pay that fee!

 

[kekmaw]

Well it costs me roughly 2500 euro every 12 month to maintain the company, accounting and filing of taxes. On top of this there is the Duty Fee from the government that has to be paid aprox 550 euro. That's it. Comparing to what I safe in taxes, the privacy level and various other benefits I get every year from this company I don't mind to pay that fee!

€2500 ain't bad! What services do you pay for?

 

[negon]

Well it costs me roughly 2500 euro every 12 month to maintain the company, accounting and filing of taxes.

The services listed above

 

[JohnLocke]

It's not that expensive as PwC or KPMG told you. Okay if you use these big consultancy firms then it may cost these amounts but if you find an agent that is fair in his pricing and still certified accountant you will pay these 2 - 3k euro for a 12 months period in total!

 

[pinacol]

What's cheapest price to keep the company for 1 year?

 

[kekmaw]

The services listed above

Which company helped you with this for that price?

 

[negon]

Well the company that originally incorporated my business in not in business any longer But I moved it to another agent which gave me the same fee for filing of tax report and accounting on recommendation by Admin.

 

[bat123]

Well the company that originally incorporated my business in not in business any longer But I moved it to another agent which gave me the same fee for filing of tax report and accounting on recommendation by Admin.

Would you mind telling us which company's service you are using? I',m trying to incorporate in Cyprus recently. If it is not allowed to discussed in public, can you send private message of the name of that company?
Regards,

 

[negon]

You can just post what you want.. it's just not allowed to post sales related threads here if you are an agent

Which company have you been using for your incorporation in Cyprus?

 

[bat123]

You can just post what you want.. it's just not allowed to post sales related threads here if you are an agent

Which company have you been using for your incorporation in Cyprus?

Haha, Ok.

Which company have you been using for your incorporation in Cyprus? The one you were recommended by Admin.

 

[negon]

Which company have you been using for your incorporation in Cyprus? The one you were recommended by Admin.

Exactly.. using them for most of my stuff so I don't have to worry about anything new that may suddenly be a requirements after payment!