To be taxed or not ?

[Liveera]

Hi guys,


I need to improve my knowledge and advisory services for my clients , growing quickly is a critical objective and I can’t be slowed down by taxation as I am taking risk to ensure that my clients obtained the best services to eliminate competitors. Could you expose me what’s the main benefit of having a company in Cyprus in terms of taxation. I saw that the corporate taxation was 12,5% but is there a special status for offshore revenues ? I wont’ be a resident of Cyprus since I need to go to Malaysia to meet my clients so my main residence is in Kuala Lumpur ? What’s the average price for a company in Cyprus ?

Thanks guys.

 

[JohnLocke]

You will be able to setup the Cyprus company non resident which would make it eligble to 0% corporate tax! Means you don't pay any corporate tax in Cyprus at all. You want to setup an EMI account for this entity for banking purpose.

 

[James Turner]

An EMI is a suitable option but normal banking is also a option for a Cyprus entity.

 

[JohnLocke]

Yes just today I got informed that Cyprus, Seychelles and even HK companies are able to open a bank account in Cyprus again. Thats part of a new directive

Under the new directive, Cyprus Banks are allowed to open / maintain an account for a company that would otherwise qualify as a 'Shell', if the following conditions are satisfied:

- The bank has adequate supporting documentation that the company is engaged in legal activities
- The identity of the ultimate beneficial owner is clear

 

[Liveera]

Thanks for your advice , can I know the average price to open a structure in Cyprus and if I don’t make revenues what expenses do I have to pay per year

 

[JohnLocke]

You may approach some of the agents around here or google. We will not allow sales related questions or answers here

 

[bombaelefant]

Yes just today I got informed that Cyprus, Seychelles and even HK companies are able to open a bank account in Cyprus again. Thats part of a new directive

Under the new directive, Cyprus Banks are allowed to open / maintain an account for a company that would otherwise qualify as a 'Shell', if the following conditions are satisfied:

- The bank has adequate supporting documentation that the company is engaged in legal activities
- The identity of the ultimate beneficial owner is clear

Do you know which banks are accepting them? I was banking with RCB bank and they closed my account even though I am doing proper business (although not in Cyprus but in Sweden with a permanent establishment in Sweden -so, no taxes paid to Cyprus-).

 

[JohnLocke]

What business are you into?

 

[bombaelefant]

What business are you into?

Construction.