Is this how it works?

realcat

Building Trust
Entrepreneur
Hi, can anyone confirm if i am getting this right about Cyprus and if its going to work as i have intended.

Business of online services.

1. Form a cyprus non-resident company and pay accountant firm to do all your tax related paperwork.

2. Pay zero tax in Cyprus

3. Send salary from your Cyprus company to yourself at home country and pay tax on it at home.
 

Admin

Forum Moderator
Staff member
Thats proparly how it works. You just forget that profits that you keep in the Cyprus company and which are not taxed have to be taxed in your home country regardless if you take the home or not. This apply for most countries global wide.

That's why you either need to make use of double tax treaty i.e. you pay a little tax in Cyprus and don't pay tax at home OR
You register the company non resident and even use nominees to try to proof the company is controlled and managed in Cyprus and not under your control.

You may even use other methods to proof that, but it's not to be discussed here.
 

negon

hannibal the cannibal
BANNED MEMBER
Entrepreneur
Hi, can anyone confirm if i am getting this right about Cyprus and if its going to work as i have intended.

Business of online services.

1. Form a cyprus non-resident company and pay accountant firm to do all your tax related paperwork.

2. Pay zero tax in Cyprus

3. Send salary from your Cyprus company to yourself at home country and pay tax on it at home.
That's how it can work at least!
 

bountymounty

Trusted Member
Business Angel
Mentor Group
Hi, can anyone confirm if i am getting this right about Cyprus and if its going to work as i have intended.

Business of online services.

1. Form a cyprus non-resident company and pay accountant firm to do all your tax related paperwork.

2. Pay zero tax in Cyprus

3. Send salary from your Cyprus company to yourself at home country and pay tax on it at home.
did you go with a Cyprus company setup?
 

realcat

Building Trust
Entrepreneur
No, i decided there is no need for that. In my country you pay tax only on profit you take out of company, reinvested money is not taxed.
Circumstances are good enough at home.
 

Latest Threads

Top