Opening Cyprus non-resident company + US C Corp (without going to Cyprus)

[BobaKH202]

Hey all,

I'm a US/EU Citizen who will be living in an EU country and will need to open a Cyprus non-resident company for daytrading activities and as well as US C Corp (will pay the US guilty tax as an expatriated American)

I have received quite a high quote for a service provider who assists with this, but I am curious if anyone has experience with opening one, and if this potentially something that is relatively straight forward (with a bit of work of course) to do? Essentially, I would need to form a Cyprus non-resident company, have a registered address, registered agent service, apostille documents for banking, two bank accounts and a brokerage account and as well open a US C Corp.

Could anyone point me in the right direction for whether or not all of the above steps could be done for less than lets say 1000 EUR by myself?

Best

David

 

[CyprusLaw]

BobaKH202 said:
Hey all,

I'm a US/EU Citizen who will be living in an EU country and will need to open a Cyprus non-resident company for daytrading activities and as well as US C Corp (will pay the US guilty tax as an expatriated American)

I have received quite a high quote for a service provider who assists with this, but I am curious if anyone has experience with opening one, and if this potentially something that is relatively straight forward (with a bit of work of course) to do? Essentially, I would need to form a Cyprus non-resident company, have a registered address, registered agent service, apostille documents for banking, two bank accounts and a brokerage account and as well open a US C Corp.

Could anyone point me in the right direction for whether or not all of the above steps could be done for less than lets say 1000 EUR by myself?

Best

David
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Hi in order to register a company in Cyprus you need a lawyer, it cannot be done without a lawyer. Please let me know what was the fee quote you received to tell you whether it is competitive or not

 

[BobaKH202]

CyprusLaw said:
Hi in order to register a company in Cyprus you need a lawyer, it cannot be done without a lawyer. Please let me know what was the fee quote you received to tell you whether it is competitive or not
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Well, for all of the above they priced me at 4500 EUR, which appears a bit excessive. Looking into it I have seen through a quick google search, at least for opening a Cyprus company prices ranging from around 1500-2000 USD. I haven't done enough research to know whether or not I would also need to pay some annual fees.

 

[CyprusLaw]

BobaKH202 said:
Well, for all of the above they priced me at 4500 EUR, which appears a bit excessive. Looking into it I have seen through a quick google search, at least for opening a Cyprus company prices ranging from around 1500-2000 USD. I haven't done enough research to know whether or not I would also need to pay some annual fees.
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Generally the fee is quite competitive, as long as director, secretary and reg office are included in the price. For these services plus banks accounts etc you are looking at 4-6K, noting that the nominee services are annual fees. You can find some shady providers online that offer low prices but would suggest to avoid this

 

[BobaKH202]

CyprusLaw said:
Generally the fee is quite competitive, as long as director, secretary and reg office are included in the price. For these services plus banks accounts etc you are looking at 4-6K, noting that the nominee services are annual fees. You can find some shady providers online that offer low prices but would suggest to avoid this
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Thank you for the feedback. Pity it is quite expensive, compared with other locations.

 

[lacomaco]

BobaKH202 said:
Thank you for the feedback. Pity it is quite expensive, compared with other locations.
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With an EU company, bank account, directors, shareholders with probably legal tax residency it is expensive? Compare it to Malta, Hungary and I am not even mentioning Switzerland, Liechtenstein, Luxembourg... Anyway "Cyprus company price" meaningless for comparison if the exact services are not mentioned not outlined

 

[CyprusLaw]

lacomaco said:
With an EU company, bank account, directors, shareholders with probably legal tax residency it is expensive? Compare it to Malta, Hungary and I am not even mentioning Switzerland, Liechtenstein, Luxembourg... Anyway "Cyprus company price" meaningless for comparison if the exact services are not mentioned not outlined
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Correct. Also you need to compare the level of service and exactly what is included. It is better to pay a higher price but set up a more concrete structure. Better safe than sorry

 

[BobaKH202]

Indeed, not saying that I will not pay the price, was just a little petty complaint from a little guy who wants to save as much money as possible setting up my tax avoiding company, but thank you very much so far for the guidance.

 

[lacomaco]

BobaKH202 said:
Indeed, not saying that I will not pay the price, was just a little petty complaint from a little guy who wants to save as much money as possible setting up my tax avoiding company, but thank you very much so far for the guidance.
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Tax residency proof, substance, banking compliance, place of management - I think the old times of running a structure with cheap fully legal solutions are over