Cyprus company with 0% corporate tax?

[dotbloup]

I can read on several websites that if a Cyprus company is managed & controlled from outside of Cyprus then there is no corporate tax.

I wonder if someone here or if you know someone who succeeded in getting this Corporate tax = 0%

Is it difficult to get?
Are there downsides like local tax authorities investigation or tax audits or any other thing?

 

[haslan]

It is not difficult. You want to tell your agent that you want it to‌ be "non resident" and then have him to register the company. You will still need‍ to file tax report each year and maintain accounting but you will not pay any⁠ tax!

a non Cyprus resident company can't be registered for VAT and can't obtain a⁤ resident certificate since it is not Cyprus resident.

For most online business this is the⁣ perfect setup to avoid any taxes.

 

[dotbloup]

Great information!

What do they require to prove that the management takes place outside of‌ Cyprus ?

thank you in advance

 

[JohnLocke]

You can simply do it by appointing foreign nominees. Otherwise say you are going to‌ register the company in Cyprus and are appointed shareholder + director the company can without‍ problems be registered foreign, offshore / non resident 😉

 

[negon]

Only foreign nominee director or sharholder as well?

 

[pesto]

If a company has to be non resident then foreign nominees are mandatory I have‌ been told.

 

[cosmo]

and it Works exactly like that. Just be‍ aware of that you still have to maintain accounting and file a tax report. This⁠ has also been discussed several places on this forum before but I wanted to mention⁤ it.

 

[cutmetwo]

But no tax has to be paid right?

 

[negon]

As mentioned‌ a few times before. There is no tax to be paid if the company is‍ registered abroad / non resident. You will, however, have to file a tax report each⁠ year!

 

[FullDISK]

I would like to know too how is charged Cyprus company non-resident.
Today compensates a‌ Cyprus Company?
Also, about the Banks and Paypal, any problem?

 

[poketax]

PayPal forget it the normal way you need some documents to make it happen! I‌ own a Cyprus non-resident corp. since June 2016 no tax to be paid this year!‍ It is the biggest hurtle to get the PayPal to work as we want it.⁠ I have spend months to convince PayPal support to accept my setup!

 

[cutmetwo]

But you got your paypal account approved now or still pending?