is this true about offshore incorporation in Cyprus ?

[yuri]

I have found this on this site, doesn't seem that professionally designed, and i dont know what to say, i have never heard of them until now. mods: if posting this url is against rules, please remove it.


<>

• 10% taxation.
  
• bank reference to real owner of the company;
  
• information about the shareholders: name, address, nationality, place of residence.
  

so does this mean, the business owner's identity will be found out easily?


additionally, 10% taxation on income ? what if it is an internet adult site that generates income from all over the world, but the site itself is hosted in Netherlands.


how does incorporating offshore in Cyprus compare with other places? what are some clear advantages and disadvantages ?


please help, I am trying to learn as much as possible about this....


many thank you for reading.


Yuri.

 

[JohnLocke]

Welcome aboard Yuri, thank you for posting, it is indeed against the forum rules to post urls before you have made 15 posts so for now it is removed.


In regards to your question:


Well, it depends very much on how you form the company and if you appoint any nominee director and shareholder, if you do it is difficult to trace down the owner of the company since this would require a local court order and this is not easy to obtain.


For international business where the shareholders and beneficial owner is not a resident of Cyprus and where the company will not do any business with a Cypriot the company is exempted from any tax, means you pay 0% tax.


Comparing Cyprus with any other offshore jurisdiction is difficult, since Cyprus is not really considered as offshore but rather low tax jurisdiction, other offshore countries like Belize, Seychelles or BVI etc. have benefits which Cyprus don't have, and we often recommend people to make it clear for themself what it is the goals are they seek. Also one might consider to have a Holding ocmpany for instant in Belize or Seychelles and have the trading company in Cyprus this offers a lot of new oportunities in regards to privacy, assets protection and tax planning.

 

[yuri]

Hello Admin,


I apologize for posting the URL.


Thank you very much for clearing this up. I had thought from the other site, that I had to pay tax, which I thought was quite strange.


I am running an internet adult entertainment site (completely legal), and need a way to maximize my anonymity through offshore incorporation.


The reason I do this, is not unique, like many other people in the adult industry, it is easier for our lives in that people do not associate our names with the adult trade.


So, anonymity is my number 1 concern.


Additionally, is Cyprus relatively stable country compared to say Panama, Belize ?


Thank you very much for responding, I think this is a great community, and I look forward to being part of it!


Regards,


Yuri.

 

[JohnLocke]

Np problem, looks like you are not beloning to the common spammers


Well, Cyprus is a stable country they are at least as stable as the Belize and Panama, you can do somem ore research on this on google etc...


Since privacy is your number one concern, then you will have to make use of a nominee director and shareholder, it will help you archive what you seek.


You can gain great privacy by appointing nominees to the company, many Adult businesses and other online businesses have found that to incorporate a company in Cyprus will give them flexibility, privacy and also save them taxes.

 

[clemens]

I would also consider Belize or Seychelles, since you will need to find a adult payment processor and therefore don't need to have a European company it may be faster provide an additional layer of privacy.


For adult processing I would recommend the no.1 in Adult payment processing CCBILL.COM they can help you also if the company is a Seychelles, BVI or Belize Company.

 

[yuri]

where can i find more info on explaining the differences for:


nominee vs. foreign nominee ?


what is difference between just having nominee director vs. nominee director & nominee shareholder ?


so does company formation in Belize or Panama offer greater privacy ?


yes, CCBill appears to be the de facto choice.


I express many thanks for taking time to assist me through this! Thank you!

 

[rotaro]

Sorry for jumping in here, but the question in regards to nominees what also interest me.....

 

[JohnLocke]

nominee vs. foreign nominee ?

Having nominee directors/shareholders as locals (Cypriot) will help you personally to proof that the company is fully managed out side of your home country, will help you in reducing TAX.


To have nominees direcotros / shareholders as foreigner will help you to convience the local authorities in your home country that the company is managed abroad and also the company will not be subject to any tax IF no business takes place in Cyprus or to any Cyprus company.

what is difference between just having nominee director vs. nominee director & nominee shareholder ?

It depends very much on your needs and the purpose of the company, nominee shareholders will hide the identity of the beneficial owner, also to have a nominee director will both hide the beneficial owner but also let you operate the company anonymously.

so does company formation in Belize or Panama offer greater privacy ?

I won't say so, it might just be more difficult for any authoritie to gain access to the beneficial owner and other company information by incorporating in those countries since they are outside of the EU, that said, then Cyprus is offering a great privacy protection.

 

[badseed]

Actually you will not be able to process Visa if you sign up with CCbill with a company that is outside the Visa Regions: US, Canada, UK or EU.