Income Tax and Social Contributions free life in Portugal

[piratechain]

I have ties to Cyprus and know that a company would cost around 1.5k + 350€ annual levy + 300-400€ quaterly accounting fees + 2.5k for a yearly audit + 12.5% CIT + 2.65% on Dividend Distributions + in my case a local director or even 2 (not sure).

It adds up and Cyprus is not best option in my case

 

[MiltonStone]

piratechain said:
It adds up and Cyprus is not best option in my case
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If you only have a few thousands a year to maintain your company you should reconsider your business or your entire life.

 

[piratechain]

MiltonStone said:
If you only have a few thousands a year to maintain your company you should reconsider your business or your entire life.
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Good point 🙂
So far i am only working as a freelancer any make around 60k/year.

I get your point but a Cyprus company does not make sense, there are better options in that case.

 

[JimBeam]

James Spader said:
Which one would you prefer over Cyprus ?
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for the reasons stated below

piratechain said:
I have ties to Cyprus and know that a company would cost around 1.5k + 350€ annual levy + 300-400€ quaterly accounting fees + 2.5k for a yearly audit + 12.5% CIT + 2.65% on Dividend Distributions + in my case a local director or even 2 (not sure).

It adds up and Cyprus is not best option in my case
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I would avoid Cyprus as it can be quite expensive. You can almost have UAE company for similar amount of money or slightly more but then you won't be paying 12.5% CIT.