Mentor Group
Offshore Company Formation and Management Services
Turner Little - Company Formation Agents & Banking Intermediaries.Chat to a member of our sales team.

Malta or Cyprus, and a few questions

Wintermute

New member
I have a company registered in the Seychelles, generating revenue on online services. I want to spend some of the money on investing in Cryptocurrencies and properties. My bank provider is pretty restrictive, and does not allow transfers to Cryptocurrency exchanges, so I want to move to a new solution.

I have been thinking about forming a Limited company in Malta or Cyprus, with a nominee director for privacy, and move the business activities to that company instead. I have a few questions regarding this solution. All of my clients are from EU. I myself also live in EU.


* I am planning on using an EMI as a bank account for daily operations, does this make sense? or is it better with a bank account in the country which I form the company? The EMI will of course be registered to the company. I am thinking in regards to that if the EMI starts reporting the account balances to my local countrys tax authorities, can it cause any kind of trouble for me, as long as the bank account is registered in a offshore company with nominee directors?

* If I own a company with nominee directors in Cyprus or Malta, will I have to pay any kind of personal tax in my local country for money not yet transferred to myself personally?


* I want to pay out salary to myself from the new company, I will ofcourse have to pay my local tax of the money when they enter my local bank account, but will I have to pay company tax of the money I pay out as salary?


* If I start investing in property and renting it out, for example through Airbnb, is that best done using a company in the local country, or can it be done through the company in Malta or Cyprus?


* Will I have to pay company tax of the money I spend for investing in Cryptocurrencies?


* If I want to transfer money from my Seychelles company to the new company, how is that done? I read that I can just invoice the Seychelles company from the new company, for digital services?


* Are there companies providing advice and accountant regarding this? I dont want to accidentally do something which is considered illegal.


* Is Malta or Cyprus preferred?


* Does this solution make sense?


I hope someone can answer my questions.
 

Martin Everson

Offshore Retiree
Mentor Group Gold
Elite Member
That's a lot of questions and there is only 24hrs in a day :)

Questions all make sense but I don't want to put financial advisors out of business by answering them all ;-)
 

Wintermute

New member
That's a lot of questions and there is only 24hrs in a day :)

Questions all make sense but I don't want to put financial advisors out of business by answering them all ;-)
Of course not Martin. ;) I am of course also willing to pay for advice. Can any one by any chance point me in a direction to a good trustworthy financial advisor?
 

blueweb

Corporate Services
Mentor Group Gold
Elite Member
Will I have to pay company tax of the money I spend for investing in Cryptocurrencies?
depends on where you incorporate. Most offshore jurisdiction have no tax!
I want to pay out salary to myself from the new company, I will ofcourse have to pay my local tax of the money when they enter my local bank account, but will I have to pay company tax of the money I pay out as salary?
no, pretty easy.. but you will get the attention of your tax office most properly.
If I start investing in property and renting it out, for example through Airbnb, is that best done using a company in the local country, or can it be done through the company in Malta or Cyprus?
It will always look suspicious to people if they can see what country your company is located and it differ from the currenct country! However, Cyprus and Malta is EU and for that reason not unsual!
 
Mentor Group

Latest Threads

Mentor Group
Top