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Great be Aware of the risk. I heard strange stories were employees have been terminated when their employer learn this. Our discussion is not a professional advice. Have a nice day.

General speaking, in Cyprus you cannot be at the same time employee and self-employment. This is a big issue and tax authorities needs to fix this. I have the same problem. The solution is to have a separate company and issue invoices as for the extra activity. Again there is another problem...

A) you can declare deductions (expenses) related to you as an employee/person (i.e. subscriptions to be an architect for example, life insurance etc). I can see that you have more than 1 source of income (as employee) Are you an employee and at the same time you have extra activities (on your...

1. Employer has a legal obligation to calculate and deduct the PAYE therefore has the obligation to send you this form and suggest you to complete it. 2. Avoid to do it means that, ()a) you will lose the opportunity to request further tax deduction, because you can declare other personal...

Hi, There are a lot Companies that can provide these type of services. (I) open a Company (and a bank account) (II) offer director services. Just to note that most probable you will need extra services to run a CY company. What's exactly are your plan (single entity or group) and what is you...

Correct. However, please note that during your first submission of the tax return, there is a possibility that you need to prove that previously you was not tax resident in Cyprus and you need to explain and/or provide evidence the reason you did not submit last year's tax return. Therefore...

Correct Agree.

Yes but not "exceptional cases". The cases you are referring relates to individuals / legal entities already living or registered in Cyprus. If you read the various categories, most probable you will fall within the above category (number 5).

I was referring to this one

In order to be registered in Cyprus as person with valid tax ID you need to complete the attached form As you can see, you need to declare the country you waw previously tax resident (part B) Attachments TD2001_2018.pdf 361 KB · Views: 150

First off all there is no clear definition of substance. For groups with international transactions, the a risk cannot be eliminated. Each case needs to be treated separately. Your target is to minimize the risk at with the optimum cost. Strong criteria that prove substance: 1) Own or rent...

Hi, Did you check Cyprus? Gain on sale of shares is tax free.

Just to add that in order to remain active, I addition to the dormant accounts & tax return, you need to submit to the Cyprus Companies Registrar the Annual Return.

I agree with you. However, If tax will be increased to 15%, dividends payable to local residents (Cypriots) will be exempted from taxation (SDC) (now is 17%). For foreigners doing business in Cyprus, dividends payable was always free of tax.

The logic behind the change is the decision of G7 to implement an a minimum corporate tax rate to 15%. Since Cyprus's Economy rely on the services offering to foreigner companies, new tax incentives will be implement.

They will request to inform bank your expected turnover for the year. This is an extra requirement of Cy bank. For example if you can estimate monthly revenue of 10,000, then you will report annual estimated turnover of 120,000. In addition, they are requesting sources of income.

Hi, the options you have are the same option as other EU countries. Please note that bank in Cyprus now they requesting expected movement (except from all other)

Dividends are non taxable if you are not Cyprus Tax Resident. However, please note that you need to declare the dividend in your country you are living. If you move to Cyprus then you will become tax resident in Cyprus (you need to deregister as tax resident from the country you live now). In...

Now they are also requesting source of funds (AML) of the shareholder if the financing was made through equity finance.

Enougj difficult You need all the HK compamy corporate documents and full KYC of the shareholder /owner (source of funds, where. These funds are taxable etc). Also some banks do not open new accounts to foreigners individuals or companies.