First I want to let clear I was searching a way to work in EU on the best conditions (like all 
), but primary goal is setup an structure who work legally in the most convenience way to myself, optimizing taxes and wealth safety. So if someone have experience working in Man or both, please bring some light.
After many hours researching I don't see the point to work from Cyprus instead of Man, unless your a going to setup Holding or similar structure. (not taking on account the Brexit issue, because its uncertain how its gonna end, maybe after still is a good way to trade with EU, not sure if will be better or worst, the time let us know).
Let's say I research for physical goods and services, Import-Export business looks even better&faster dealing from Man (up to now, after brexit...), gambling, banking too, etc... in theory they also are pro-crypto.
let's compare:
This post try to treat on a general way to get info valid for all, personal circumstances may vary the final results.
Everybody opinions are welcome, so don't be shy!!
Cheers
), but primary goal is setup an structure who work legally in the most convenience way to myself, optimizing taxes and wealth safety. So if someone have experience working in Man or both, please bring some light.After many hours researching I don't see the point to work from Cyprus instead of Man, unless your a going to setup Holding or similar structure. (not taking on account the Brexit issue, because its uncertain how its gonna end, maybe after still is a good way to trade with EU, not sure if will be better or worst, the time let us know).
Let's say I research for physical goods and services, Import-Export business looks even better&faster dealing from Man (up to now, after brexit...), gambling, banking too, etc... in theory they also are pro-crypto.
let's compare:
- Setup cost&Maintenance: more or less EQUAL.
- Privacy: not sure but look better from Man's, in Cyprus since March nominee setup as the usual way, will not work, must be real structure, real office, real director (not running 1000 companies),... This point doesn't care to much to me, but maybe is interesting for others.
- Dividends: 0% Man Vs 12.5% Cy (trading have special treatment)
Not withholding tax in both cases and If you choose setup Man and become "Special resident in Cyprus" can get for 0% your dividend, so win-win and clean-clean. From Cyprus I read about from some people who moves up to 70% of the money to offshore before yearly taxing with invoices, so get 3,75%, but at minimum is grey line.
- Vat: 0% Man* Vs 19% Cy (Both EU vat)
I read some of you make it work some business avoiding Vat, but not legal way. Don't know is if too risky, maybe for servicies B2C is ok, but B2B or phisical goods...
*not sure if this is real or still apply.
- Accounting: no much info of Man costs, but Cy is far from easy and cheap, if you move a few invoices monthly is ok, if not... $$$
- Banking: no idea from Man, but CY not easy, usually needs and introducer, banks require see you and a bunch info of company, referencies,... and neither cheap on fees.
This post try to treat on a general way to get info valid for all, personal circumstances may vary the final results.
Everybody opinions are welcome, so don't be shy!!
Cheers
