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Isle of Man vs Cyprus

#3
I am a European, i tried everything to see if it was possible. Just like in Jersey,Guernsey, i have never found an agent accepting to incorporate for less than £3500 & still i was not sure banks would say yes even if i am a European. banks said no to me as non residents. Plus paypal said it is forbidden to use Paypal as merchant in those places. In my case payment gateways said 100% no.
But if you succeed post all the story here because for me you would be a hero.

The only jurisdiction that is a bit better it is Gibraltar. But their banks don't want small accounts. They want investor accounts just like in Switzerland.
 
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#8
Dave said:
or the real question is opening a bank account in local banks? can you NOT open a bank account in Cyprus and connect a payment gateway to it?
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Sure if you can find a payment processor it's not a problem.
 
#10
Dave said:
so the real question if the price of incorporation right? woudl it NOT BE OFFSET BY ZERO CORPORATE TAX if you earn at least 10000 or 20000 per year?
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Yes, because if you register a Cyprus company to be non resident there is also no tax.

The question is if a Isle of Man company will require filing of tax and financial report including accounting!?
 
#11
auric said:
Yes, because if you register a Cyprus company to be non resident there is also no tax.

The question is if a Isle of Man company will require filing of tax and financial report including accounting!?
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I wonder if it is much EASIER to prove your non-resident status in Cyprus than in say Hong-Kong?
 
#12
The use of Cyprus Non-Resident Companies (Cyprus Companies which are not managed & controlled in Cyprus) - effectively not taxed for their non-Cyprus income in Cyprus - but, as a non-resident person it cannot enjoy the benefits of the Cyprus Double Taxation Treaties.

This means there will be WITHHOLDING TAX when sending dividends home from Non-Resident Companies???????
 
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#13
Dave said:
The use of Cyprus Non-Resident Companies (Cyprus Companies which are not managed & controlled in Cyprus) - effectively not taxed for their non-Cyprus income in Cyprus - but, as a non-resident person it cannot enjoy the benefits of the Cyprus Double Taxation Treaties.

This means there will be WITHHOLDING TAX when sending dividends home from Non-Resident Companies???????
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Well there are workarounds for this.. no problem at all, depending on which agent you use of course :)
 
#14
Dave said:
I wonder if it is much EASIER to prove your non-resident status in Cyprus than in say Hong-Kong?
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As long as you appoint foreign nominees it is the same either Cyprus or Hong Kong.. you will under any circumstances need assistance from a local tax lawyer.. at least in most cases.
 
#17
Dave said:
no one who has experience with Isle of Man companies?
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Would like to know the same? ATM I'm contacting different agents to check with them about price and requirements. Once I have found at least one or two reliable I will post them here. In the meantime should anyone know about someone reliable to use please POST, POST, POST here damn_(
 
#18
Dave said:
do all payment gateways have this rule in STONE that you need to bank in the same country as your incorporation?
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No, real payment processors don't have this requirement. You can have a offshore or normal company in one jurisdiction but bank somewhere else.
 
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