BVI or Cyprus
- Thread starter akshdalal
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A Cyprus company will most often look more legit towards business partners and customers while a BVI company will have better tax benefits.
In my opinion, you will not lose anything if you are going to pay your taxes right. It may not be good on your sheets but you can just imagine the help that you giving to a country. Having a clear conscience is sometimes better than having a profit-loaded business.
You can legally reduce the tax burden by consulting a tax adviser who knows about tx rules in your local country and in the offshore jurisdiction where you incorporate. In your case I would only look at what benefits each jurisdiction has for your business setup. BVI or Cyprus!
That's possible, also you will need some documents in place and the right structure. That said, a BVI company can be used for the same purpose. However, you want to look at who you are doing business with and if they have any troubles with a BVI company.
The BVI is cheaper to maintain because you don't have to file any tax report each year or do book keeping! Cyprus is a more trusted country to have your company incorporated. It depends on the business activity what jurisdiction will work best for your business I say.
Doing business in Europe it seems Cyprus is one of the better places to establish your company and business and preferred over any offshore jurisdiction like BVI seems to be(I'm still new into all this so forgive me if I'm wrong) Cyprus seems to be more recognized and an onshore jurisdiction so it is offshore.
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