Looking to transfer my tax residence to Cyprus. I have a UK company already, and one other director (not a shareholder) in the UK. I may render this dormant and close it.
I'm planning to set up a Cyprus company. To my mind, the main advantage of doing this is for the 60d tax residence. It's true that corporation tax is low, but you have to offset high accounting costs and other requirements (like maintaining an apartment year-round). But for banking, private indemnity insurance, and reputation, Cyprus is far from being the best choice out there. It also has ATAD, so it's probably best to use it for service contracts and things like that which don't involve an accumulation of goodwill and other such assets.
So what other companies can safely be operated from Cyprus, perhaps with lower accounting, corporation tax, insurance costs and better banking? Singapore? Dubai? Georgia?
Would any such option help give me a foot in the door when it's time to leave Cyprus, and convince the Cyprus taxman in turn that I've genuinely moved on, without having to spend hundreds of days accumulating credit card transactions and utility bills in the new place?
I'm planning to set up a Cyprus company. To my mind, the main advantage of doing this is for the 60d tax residence. It's true that corporation tax is low, but you have to offset high accounting costs and other requirements (like maintaining an apartment year-round). But for banking, private indemnity insurance, and reputation, Cyprus is far from being the best choice out there. It also has ATAD, so it's probably best to use it for service contracts and things like that which don't involve an accumulation of goodwill and other such assets.
So what other companies can safely be operated from Cyprus, perhaps with lower accounting, corporation tax, insurance costs and better banking? Singapore? Dubai? Georgia?
Would any such option help give me a foot in the door when it's time to leave Cyprus, and convince the Cyprus taxman in turn that I've genuinely moved on, without having to spend hundreds of days accumulating credit card transactions and utility bills in the new place?