Cyprus company with Malaysian residence for trading?

[Kakarot]

that's better than UAE because the company fees alone each year are over 5000 USD.‌

Can you elaborate please on how one needs to structure a general trading company in‍ cyprus to achieve the lowest tax possible?

banks are easy enough to get there?

I'd need to lease a home there to qualify for this right? And spend 60 days⁠ of the year to be tax resident there -- so how are rental rates there?⁤ It's ok to sublet my place out when I'm not there 10 months of the⁣ year?

 

[JohnLocke]

I totally agree, but then again as @GANGE already said:

 

[Kakarot]

Can you elaborate Don on how you structure and achieve this with a general trading‌ company in cyprus?

"In practice, many traders are running Cyprus entities with simple nominee structures.‍ Pay like 4k annually, let lawyers do the paperwork, and enjoy life with 0% tax"⁠

the basic loophole is that you cannot be the UBO -- you need a cypriot⁤ citizen as your UBO? or just the director or majority shareholder or...

 

[Don]

It's generally structured as passive income, where you will︀ remain UBO.
Regarding banking, most use EMI-s. Banking is easy only when you have a︁ lot of money with clear SOF.
Regarding renting a home in Cyprus, yes it will︂ be required if you intend to qualify as a non-dom. You can sublet it, and︃ in some cases, we offer a solution where you pay a very low rental fee︄ year-round without actually using the premises, only to fill the requirements on paper.
For real︅ estate, please check Bazaraki.com - No.1 classifieds website in Cyprus. Sell or buy cars, real︆ estate, motorcycles, computers, electronics and much more. Free registration.

As with everything, I agree that︇ there are certain drawbacks and risks attached.
The key is choosing the right service provider︈ and diversifying as much as possible to mitigate risks.
If I was too worried I︉ would first test the setup out for a while without putting too much money in︊ there, to establish trust.
I also recommend visiting Cyprus and the service provider physically.

 

[Piano]

Hello Don,︄

do you have any recommendations for service providers in Cyprus ?
yourself ?

 

[Don]

Hi! Yes. Will pm you.

 

[amork83]

Why not just apply for the cyprus non dom by registering and trading as self‌ employed? Minimum social security plus health tax and accounting fee will put you at about‍ 5 % tax? Please correct me if I'm wrong.

 

[CyprusLaw]

Social security would be 15.6% and GHS 2.65%

 

[amork83]

My belief was that income stemming from sale of securities would not count towards social‌ security, thus you would only have to pay 15,6% on a minimum of ca 8-9k.‍ Incorrect?

 

[GrumpyMess]

What are the reliable options from such structures other than trusts? I suspect‍ nominals won't help with place of effective management? However as far as I know the⁠ company can't be resident in both countries as a general rule. That's why CFC law⁤ appeared.

Can anyone confirm this?