Just wanted to share my setup, which I 100% pieced together from all the threads I found over in the Mentor Group Gold forums.
I’m not gonna dive super deep into every little detail, just gonna list the key parts, if you’ve got MG Gold access, you’ll know exactly what’s what.
Here’s the breakdown...
First, I found a guy who hooks you up with nominees, they can do video verification, plus provide a utility bill and passport for your new director.
I hired my director for about €2,500/year. Pretty sweet deal for a full legit director if you ask me!
Then, for my Cyprus LTD, I split the ownership 25% each across four shareholders. Got some solid people for that too, only €500/year per shareholder.
No issues with video verifications either, even for meetings with banks or brokerage firms.
For the office, I rented a spot just outside Nicosia, pretty modern by Cyprus standards.
It’s a standalone building with water, heating, electricity, internet, fully furnished with new office stuff, reception desk, carpets, logo on the door and everything.
A couple of the shareholders actually work out of there daily, and we also hired a lady to handle the phones.
Makes it look good when banks, tax authorities, or anyone else calls, they can easily reach “management.”
Total yearly cost for everything? Around €19,000, and that includes bookkeeping and filing the yearly reports.
As for payouts, we only do dividends, fully tax-free.
We hold quarterly meetings where dividends are distributed. Most shareholders leave the money in the company to keep it growing.
I personally pull out a dividend every quarter, no salary for me.
Dividends get paid out to AlexPCS and other OCT card providers, so you can spend the money easily at stores, ATMs, whatever.
Hope this gives a bit of inspiration if you’re thinking about setting up something similar or just wanna get out of your home country and run a lightweight, tax efficient business that only pays corporate tax!
I’m not gonna dive super deep into every little detail, just gonna list the key parts, if you’ve got MG Gold access, you’ll know exactly what’s what.
Here’s the breakdown...
First, I found a guy who hooks you up with nominees, they can do video verification, plus provide a utility bill and passport for your new director.
I hired my director for about €2,500/year. Pretty sweet deal for a full legit director if you ask me!
Then, for my Cyprus LTD, I split the ownership 25% each across four shareholders. Got some solid people for that too, only €500/year per shareholder.
No issues with video verifications either, even for meetings with banks or brokerage firms.
For the office, I rented a spot just outside Nicosia, pretty modern by Cyprus standards.
It’s a standalone building with water, heating, electricity, internet, fully furnished with new office stuff, reception desk, carpets, logo on the door and everything.
A couple of the shareholders actually work out of there daily, and we also hired a lady to handle the phones.
Makes it look good when banks, tax authorities, or anyone else calls, they can easily reach “management.”
Total yearly cost for everything? Around €19,000, and that includes bookkeeping and filing the yearly reports.
As for payouts, we only do dividends, fully tax-free.
We hold quarterly meetings where dividends are distributed. Most shareholders leave the money in the company to keep it growing.
I personally pull out a dividend every quarter, no salary for me.
Dividends get paid out to AlexPCS and other OCT card providers, so you can spend the money easily at stores, ATMs, whatever.
Hope this gives a bit of inspiration if you’re thinking about setting up something similar or just wanna get out of your home country and run a lightweight, tax efficient business that only pays corporate tax!
