CY company with only 1 customer - okay ?

[bigbite100]

Hello, is it legal to have a CY company with only 1 (foreign business) customer? or will authorities have a problem with that?

 

[CyprusLawyer101]

Perfectly legal.

 

[troubled soul]

Nobody cares in any part of the world that Your company has one customer or billion customers ............unless you are doing something illegal

 

[jinobino]

azb1 said:
Nobody cares in any part of the world that Your company has one customer or billion customers ............unless you are doing something illegal
Click to expand...

Sorry to contradict you but when this happen usually the suspect is that you own the "customer" company and doing some tax evasion🙂

I believe the above doesn't apply to Cypriot tax authorities🙂

 

[CyprusLawyer101]

jinobino said:
Sorry to contradict you but when this happen usually the suspect is that you own the "customer" company and doing some tax evasion🙂

I believe the above doesn't apply to Cypriot tax authorities🙂
Click to expand...

Allocation of operations definitely does not usually mean tax evasion.

 

[jinobino]

Agreed.

But on certain countries you have to prove it and not the tax authority.

 

[CyprusLawyer101]

A transfer pricing study proves it and it even a voluntary preparation grants peace of mind and diversion of the risk from client to professional.