Cyprus company and tax rate, seek advice please

[orangeye]

Hi,


What is the current tax rate a Cyprus company pay 0% or 10%?


I have read that Cyprus companies pay 10% corporate tax but that it is possible to pay 0% it is not clear to me how this is possible :conf:

 

[JohnLocke]

If the company is registered resident it has to pay 10% corporate tax if it is non resident it don't pay any corporate tax, however, you can't register a non resident company for VAT if that is a requirement!

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[orangeye]

Thank you very clear now 🙂

 

[orangeye]

What makes a Cyprus company resident vs non resident?

 

[JohnLocke]

If the company is controlled abroad and not in Cyprus then it is considered non resident, otherwise it is resident.

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[orangeye]

Gow can the company be controlled abroad if I own it?

 

[JohnLocke]

Your question is the answer! While you live abroad the Cyprus company is controlled and Managed abroad as well, the only exception may be if you appoint Local (Cypriot) nominees in the Cyprus company then it could be considered managed onshore so it will be applicable to 10% corporate tax!

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[orangeye]

I realise a Cyprus company can be non resident then can't be registered for VAT which is a problem if doing business within Europe, so better to register Cyprus company onshore right?