Having a legal company in cyprus

[wachu]

Hello,

I want to incorporate a legal company in cyprus for my web business.

So according to this :
Cyprus

I will have the 12.5 company tax rate and my personnal tax in my country.

Is that correct ?

 

[negon]

Seems you never got a reply to your thread 🙂

Yes that is correct you pay 12,5% tax. You can also register the company non resident so there is no tax to be paid! This is sometimes a better solution depending on what business you are into.

 

[Starlights]

where can i find cheap and good accounting service for my cyprus company i try search internet but not find any good someone could recommend any?

 

[clemens]

You typically find it with the service provider that register the company for you!

Toggle signature
One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[Starlights]

clemens said:
You typically find it with the service provider that register the company for you!
Click to expand...

Okey thanks for the TIP 🙂

 

[JohnLocke]

wachu said:
Hello,

I want to incorporate a legal company in cyprus for my web business.

So according to this :
Cyprus

I will have the 12.5 company tax rate and my personnal tax in my country.

Is that correct ?
Click to expand...

That's correct. You can register the company non-resident and avoid to pay tax at all! You can also register the company simply onshore and pay the 12,5% tax on profits but ask your CPA to help you to reduce the profits legally! So you can register the Cyprus company for VAT and comply to the European VAT regulations.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[bountymounty]

wachu said:
Hello,

I want to incorporate a legal company in cyprus for my web business.

So according to this :
Cyprus

I will have the 12.5 company tax rate and my personnal tax in my country.

Is that correct ?
Click to expand...

where did you get your company setup?

 

[Royce Office Cyprus]

Admin said:
That's correct. You can register the company non-resident and avoid to pay tax at all! You can also register the company simply onshore and pay the 12,5% tax on profits but ask your CPA to help you to reduce the profits legally! So you can register the Cyprus company for VAT and comply to the European VAT regulations.
Click to expand...

If you register your company as a non-tax resident, then you'd have to pay taxes in your home country.

 

[JohnLocke]

That's correct, the question is about corporate tax and not personal tax. There are hundred of threads on this forum alone that outline it clearly that you have to pay personal tax from your personal income i.e. when you transfer money from the company to your self.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[diablo]

Royce Office Cyprus said:
If you register your company as a non-tax resident, then you'd have to pay taxes in your home country.
Click to expand...

Agree, if one is looking for 0% corporate tax you simply register the Cyprus company non resident! You can't get a certificate of residency nor can't you get VAT registration for this company if you do so. For most it will work just fine.

 

[GrumpyMess]

diablo said:
Agree, if one is looking for 0% corporate tax you simply register the Cyprus company non resident! You can't get a certificate of residency nor can't you get VAT registration for this company if you do so. For most it will work just fine.
Click to expand...

Doing this way will be any corporation tax in my home country(no cfc law)?

 

[negon]

you can't make use of double tax treaty if you don't pay tax somewhere.

 

[extremedox101]

i'm so glad and thankful i don't have to pay taxes/vat on my income , the taxation sound so taxable .hi%#

 

[GrumpyMess]

auric said:
you can't make use of double tax treaty if you don't pay tax somewhere.
Click to expand...

so if I am not paying the corp tax in Cyprus I will have to pay this corp tax in my country?

 

[lostman]

GrumpyMess said:
so if I am not paying the corp tax in Cyprus I will have to pay this corp tax in my country?
Click to expand...

that is how it works normally! But this only apply if you want to make use of double tax treaties.

 

[GrumpyMess]

lostman said:
that is how it works normally! But this only apply if you want to make use of double tax treaties.
Click to expand...

By double tax treaties you mean witholding tax? I don't care of it. I just don't want to pay the corporation tax for Cyprus company in my home country.

 

[JohnLocke]

No, double tax treaty means if you pay tax in country A you don't have to pay in country B where you live! This is only available for corporate tax in the situation where you can proof the company has paid tax in country A.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[GrumpyMess]

Admin said:
No, double tax treaty means if you pay tax in country A you don't have to pay in country B where you live! This is only available for corporate tax in the situation where you can proof the company has paid tax in country A.
Click to expand...

So owning a Cyprus non resident company has no benefits if I am still liable to a corporation tax in my country

 

[diablo]

it is the exact same thing with any offshore company. The question is if you pay tax or not that's why people setup anonymous corps from time to time.