Estonia vs Cyprus

[KetchupKebab]

Hi everyone,

I'm hesitating between Estonia and Cyprus for a full online business.
After a bit of reading, I have summarized the following:

Estonia pros

• Almost everything can be done online
• No need for a nominee director
• E citizenship (don't know much about it but there are some requirements)

Estonia cons

• 20% tax (vs Cyprus 12.5%)
• Most communication and all documents are in Estonian, unlike CY where you can get everything in English
• Opening a bank account is very difficult and tighter laws are being inforced since March 2017.

Cyprus pros

• Tax rate
• Documents in English

Cyprus cons

• Nominee director must be appointed if not resident (I've heard average price is 500€/month)

Anything to add/correct? Any piece of advice would be greatly appreciated as much of this is new to me. Is it possible to inc in CY without appointing a nominee director? and of course being non-resident?

 

[diablo]

Check this huge thread about Estonia e-resident! about estonian e-residency it may answer a few of your questions.

KetchupKebab said:
Cyprus cons

• Nominee director must be appointed if not resident (I've heard average price is 500€/month)

Click to expand...

not true, you can be a director and shareholder of the Company, nominees are not mandatory!

 

[KetchupKebab]

diablo said:
Check this huge thread about Estonia e-resident! about estonian e-residency it may answer a few of your questions.

not true, you can be a director and shareholder of the Company, nominees are not mandatory!
Click to expand...

Even as non-resident?

 

[JohnLocke]

KetchupKebab said:
Even as non-resident?
Click to expand...

Yes that is possible. Many are doing it this way!

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[Okanda Fernando]

average price for a nominee in Cyprus must be much less than EURO500. It is something below EURO250.

 

[eRabbit]

Hi,
How would it work if I had an Estonian company and was a tax resident of Cyprus? Would I be able to register the Estonian company with the Cyprus tax authorities and be liable to 12% tax due to the Cyprus-Estonian double taxation treaty? Would this be something complicated to do? Has someone ever done this? Would I also have to pay social security in Cyprus?