Our valued sponsor

Solo entity for SaaS prototyping and soft dev. services contracts

Hi, I'm looking for ideas for non expensive solo entity setup for following activities:
1. software development services, b2b contracts (probably not more than $15k / month)
- should be fine for for US, EU, UK companies to deal with this entity
2. SaaS business prototyping (most projects pure tool/utility tech/software without anything tricky):
- should be really easy to set up something like Stripe for new project and start accepting payments from customers
(from zero to small volume (up to 15-20k)(some ideas will fail for sure and make something like $100)).

General requirements:
- ideally once formed should work for few years without need of constantly dealing with updated regulations and any banks, EMIs rotation etc.
- easy access to payment providers like Stripe
- should be not the issue to mix income from personal software dev. contracts and few SaaS projects
- entity should be fine if no any income for few months.
Optional:
- should allow to hire contractors (remote) on temporary basis.

Currently I non-EU citizen and Cyprus resident (pink slip) (so in any case I must pay taxes in Cyprus).

I already have Georgian sole proprietorship but unfortunately that won't help with SaaS stuff I'd mention.
Looks like in Georgia the Stripe need usually covered by forming UK LTD/LLP or something like this.

Didn't study a lot about Cyprus entities possibilities but currently I have impression that it doesn't has sense because it bit costly and could mess up with my residency permit.

Thanks.
 
Hello

Actually using a Cyprus vehicle for all activities mentioned above will be your best solution for a long-term tax optmised setup.

For instance you can utilise the IP Box Regime and get an effective tax rate of 2.5% corporation tax.

For your residency not to be affected you can become Director of your Cyprus company but just sit on the Board and no be an official employee of the Company (under Payroll).

Please let me know if you need more details and will be happy to PM you
 
For your residency not to be affected you can become Director of your Cyprus company but just sit on the Board and no be an official employee of the Company (under Payroll).

Thanks. For sure, I have to study little bit more about that. - Is it really covers non-SaaS usage too? - I'm not sure that is possible to do active software development contracts without being official employee of it (in this case, the company will have customers, but there won't be a single person who, on paper, is responsible for the actual execution of the work.). Probably that part could be done via Georgian entity but in that case it might be too much of cost dealing with Cyprus entity just for SaaS experiments.
 

Latest Threads