Isle of Man vs Cyprus
- Thread starter Dave
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I am a European, i tried everything to see if it was possible. Just like in Jersey,Guernsey, i have never found an agent accepting to incorporate for less than £3500 & still i was not sure banks would say yes even if i am a European. banks said no to me as non residents. Plus paypal said it is forbidden to use Paypal as merchant in those places. In my case payment gateways said 100% no.
But if you succeed post all the story here because for me you would be a hero.
The only jurisdiction that is a bit better it is Gibraltar. But their banks don't want small accounts. They want investor accounts just like in Switzerland.
But if you succeed post all the story here because for me you would be a hero.
The only jurisdiction that is a bit better it is Gibraltar. But their banks don't want small accounts. They want investor accounts just like in Switzerland.
Sure if you can find a payment processor it's not a problem.
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thank you - so if I can find such a processor IOM is preferable to Cyprus? or it is harder to use nominees in IOM ?
Yes, because if you register a Cyprus company to be non resident there is also no tax.
The question is if a Isle of Man company will require filing of tax and financial report including accounting!?
I wonder if it is much EASIER to prove your non-resident status in Cyprus than in say Hong-Kong?
The use of Cyprus Non-Resident Companies (Cyprus Companies which are not managed & controlled in Cyprus) - effectively not taxed for their non-Cyprus income in Cyprus - but, as a non-resident person it cannot enjoy the benefits of the Cyprus Double Taxation Treaties.
This means there will be WITHHOLDING TAX when sending dividends home from Non-Resident Companies???????
This means there will be WITHHOLDING TAX when sending dividends home from Non-Resident Companies???????
Well there are workarounds for this.. no problem at all, depending on which agent you use of course 🙂
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As long as you appoint foreign nominees it is the same either Cyprus or Hong Kong.. you will under any circumstances need assistance from a local tax lawyer.. at least in most cases.
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Would like to know the same? ATM I'm contacting different agents to check with them about price and requirements. Once I have found at least one or two reliable I will post them here. In the meantime should anyone know about someone reliable to use please POST, POST, POST here damn_(
No, real payment processors don't have this requirement. You can have a offshore or normal company in one jurisdiction but bank somewhere else.
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