Cyprus company considered to be offshore company?

[plotoffshore]

Do you please clarifiy if a Cyprus company is considered to be a offshore company? Some say no it is a European company and others say it is indeed offshore company????

 

[JohnLocke]

You can register a Cyprus company to be non resident i.e. offshore or resident i.e. onshore. Hope this answers your question.

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[buzzoffshore]

Thanks Admin. So a Cyprus company is offshore company if not registered in Cyprus, did I understand that correct?

 

[JohnLocke]

Thanks Admin. So a Cyprus company is offshore company if not registered in Cyprus' date=' did I understand that correct?[/quote']
Yes that's correct!
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[plotoffshore]

A Cyprus company registered non resident in Cyprus is considered offshore, if that's correct how I understand it then I will have to re-register my company.


Does a offshore Cyprus company pay tax?

 

[JohnLocke]

If the ,company is registered non residen then there is no tax to be paid in Cyprus.

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[plotoffshore]

Thanks Admin, very helpful😎

 

[alain]

That's actually great to know.. However, f you are doing serious business you won't avoid to pay a little tax at least!

 

[JohnLocke]

That's actually great to know.. However' date=' f you are doing serious business you won't avoid to pay a little tax at least![/quote']
Please elaborate??
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[plotoffshore]

As I read my local tax rules, they require me to pay somewhere tax in order to avoid to pay tax in my country! That's for personal income only of course.

 

[JohnLocke]

Yes you will need to pay tax somewhere in order to make use of the double tax agreement. Usually you will want to pay the tax in a low tax offshore jurisdiction.

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[clemens]

Within the EU you will have to pay tax in the country where you earn your money. There are simply possibilities to optimize your tax that way if you are willing to move.

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[clemens]

Do you please clarifiy if a Cyprus company is considered to be a offshore company? Some say no it is a European company and others say it is indeed offshore company????
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It is considered to be offshore if you for instant don't live in Europe. But in Europe it will be considered a low tax jurisdiction rather than offshore jurisdiction.

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[plotoffshore]

Thank you for clarification Jpay, it's good to have you here. What if Cyprus company is registered nonresident, still offshore right?

 

[JohnLocke]

If a Cyprus company is registered nonresident it is actually considered to be an offshore company. Anyway, also Cyprus companies registered resident can be considered offshore 😉

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[plotoffshore]

Thank you for your awesome explain.. I think I got the point now and we are operating and working on several different offshore companies including Seychelles, Cyprus, Belize and BVI ! Your awesome guys.

 

[JohnLocke]

Thank you.. seems you are happy with all your offshore enities, I'm glad to hear so. Do you plan additional incorporation in different offshore jurisdictions maybe?

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[buka]

If your doing business within the EU, Cyprus is the no1 destination for tax savings and conducting business.

 

[JohnLocke]

Many use a Cyprus company for trading in Europe because of tax reasons.

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[plotoffshore]

How good is my privacy protected in the following offshore entities in Cyprus:

• Offshore Cyprus Trust
  
• Offshore Cyprus Foundation
  
• Offshore Cyprus Company

I write offshore because the entity should be non resident as I read in order to avoid TAX!


Any help is much appreciated?