Hi friends, I am a digital entrepreneur, I have just arrived in Cyprus from Spain and I have some general doubts that many people who have recently moved to Cyprus may have.
1º The 60 days to be a tax resident as a person in Cyprus, do they count from the arrival at the airport or from the day of obtaining the yellow slip?
2º Currently I have rented an office for one year for the company and an apartment to live, the electricity, internet and water bills for my apartment are in my personal name. The duration of this contract is 1 year as well. As I am only going to be in Cyprus 60 days a year, an external company is going to put the apartment on airbnb, booking... to try not to waste money on having my apartment empty.
Can this structure of having my apartment rented on airbnb and booking the days that I am not in Cyprus, can I lose the status of "permanent residence" in Cyprus?
The earnings from this apartment would go to my LTD in Cyprus.
3º I have seen in this forum that many people recommend "local directors" if I am only going to be in Cyprus for 60 days. But my question is, what is the point of having a local director, if in the case of an inspection, this director has not done any "management and control" since the payments to my clients have been made by me as a shareholder, most of them outside time of cyprus, the bank accounts have been opened and managed by me and he has given me a general power of attorney (which I have read may refuse my tax residency from the company if I request a certificate from the government of cyprus in the future for using a general power of attorney)
I am simply putting his name on my LTD but this person has no substance in my company other than a simple name and being a local Cypriot.
thanks a lot friends!
1º The 60 days to be a tax resident as a person in Cyprus, do they count from the arrival at the airport or from the day of obtaining the yellow slip?
2º Currently I have rented an office for one year for the company and an apartment to live, the electricity, internet and water bills for my apartment are in my personal name. The duration of this contract is 1 year as well. As I am only going to be in Cyprus 60 days a year, an external company is going to put the apartment on airbnb, booking... to try not to waste money on having my apartment empty.
Can this structure of having my apartment rented on airbnb and booking the days that I am not in Cyprus, can I lose the status of "permanent residence" in Cyprus?
The earnings from this apartment would go to my LTD in Cyprus.
3º I have seen in this forum that many people recommend "local directors" if I am only going to be in Cyprus for 60 days. But my question is, what is the point of having a local director, if in the case of an inspection, this director has not done any "management and control" since the payments to my clients have been made by me as a shareholder, most of them outside time of cyprus, the bank accounts have been opened and managed by me and he has given me a general power of attorney (which I have read may refuse my tax residency from the company if I request a certificate from the government of cyprus in the future for using a general power of attorney)
I am simply putting his name on my LTD but this person has no substance in my company other than a simple name and being a local Cypriot.
thanks a lot friends!
