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Cyprus' requirements to create an offshore company as private (BEPS)

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curiousmarv

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Dec 6, 2017
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#1
Hi guys,

I'm living in Cyprus as non-dom. 2019 I want to create an Belize IBC. My original plan was to do that as subsidiary of my Cyprus Limited. But because BEPS and new CFC rules are going to happen EU wide I cancelled this plan.

So the solution is to create an Belize IBC as a private shareholder/director (no subsidiary and no direct connection to my Cyprus limited).

What are the requirements from Cyprus side (laws) to do that? I don't need anonymity but everything should be ok and 100% legal from Cyprus point of view!

More specific:
- Can I use my Cyprus address for this Belize IBC or is this too less substance?
- Can I be the shareholder of this Belize IBC or do I need nominees?
- Can I be the director of this Belize IBC or do I need a nominee?
 
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#2
Well, if you want the Belize entity to be legit and don't let it look that you try to avoid taxes or similar then you register a simple Belize corp with a Belize address and you will be appointed as shareholder and director of that company.

Pretty easy. At the end of the year you include the profits from the Belize corp. in your fiscal reports so no one will come after you.
 
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#3
Why would you connect these too entities at all? Now you changed your mind then just setup a Belize corp with nominees to stay private.
 
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#4
Admin said:
Well, if you want the Belize entity to be legit and don't let it look that you try to avoid taxes or similar then you register a simple Belize corp with a Belize address and you will be appointed as shareholder and director of that company.

Pretty easy. At the end of the year you include the profits from the Belize corp. in your fiscal reports so no one will come after you.
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Isn't it obviously that the company is managed from Cyprus and so has to pay taxes in Cyprus?

Or do you think the Cyprus tax authorities accept this on purpose...?
 
#5
Again, things change, you are referring to a thread older than 2 years!!
 
#8
therealmarv said:
yes this is totally outdated. I'm happy I've never done it at the end ;) Belize was very hot 2-3 years ago for Cyprus, nowadays it's not a good jurisdiction.
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Why is it not a good jurisdiction? Its still possible to be 100% shareholder of a belize company and having someone else as a director while paying out dividends as a non dom in Cyprus with 0% tax rate. This has not changed, so what do you mean?
 
#11
Siggi said:
Why is it not a good jurisdiction? Its still possible to be 100% shareholder of a belize company and having someone else as a director while paying out dividends as a non dom in Cyprus with 0% tax rate. This has not changed, so what do you mean?
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There is a 2.65% Health care tax on Dividends in Cyprus. From what I read you can still do the nominee thing. But for how long. EU pressure has already halted CBI program in Cyprus.
 
#14
boomy said:
@Fred respect to your business and operation, but you really spam the s**t out of it with your services.

Can we get back to topic @Admin why don't you clean up the threads?
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I do the housekeeping but I'm a little busy, please use the REPORT button next time :)
 
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