Cyprus company with nominee director and a Belize company as shareholder

[Source]

Hey Guys & Gals,
I am a new member and new to these subject in general, so bear with me 🙂
I am considering the following setup for a new Software development company:
Cyprus company with nominee director and a Belize company as shareholder with nominee director.
My questions:
1. As a Spanish resident, what are the risks to be reported over CFC rules and how to avoid it? How well is my identity pr
2. The clients are medium to large american companies. Payments to be made with wire-transfers. Should I open a bank account? or this will increase the chances to be reported? Will the american companies have problem paying?
3. If i use EMI option, and will want to save the money to buy a property in a couple of years, how can I do that? and will that tip off the authorities as to where I got this money?
4. Is there a better setup to avoid paying 12.5% tax to Cyprus?

Thank you

 

[negon]

Hello,

1. You identity is not protected as soon as you open a bank account. Otherwise if you only register a Belize corp. your personal data is well protected.
2. The American companies will not have a problem to pay you at all. Reporting is the same as I mentioned above.
3. EMI only works with DARKS if you want to avoid to be reported. WorldCore and AdvCash say they don't report but I don't believe that this is applicable long term.
4. You simply register the company non resident, so you want pay any corporate tax. You will still be applicable to personal world wide tax income.

 

[Source]

Thank you auric, followup if i may:
1. Do you think I can just use Belize corp without Cyprus corp? Does it poses a problem for American companies to work directly with Belize? What benefits does Cyprus give me?
2. If I open a company bank account, does it mean I automatically get reported? Is this a potential risk for me in Spain? I understand that Cyprus banks only report passive company accounts at the moment...
3. As much as I like the Darks idea, I'm not sure it fits my line of business, because I am in personal contact with the client, including meeting in USA. do you agree?

Cheers

 

[negon]

Regardless how you are doing it, a Cyprus company looks much more lregit compared to a Belize corp. Cyprus is part of the EU regardless that it is a low tax jurisdiction it's still EU and more trusted.

2. That's correct and how it is right now, no one knows about the future.
3. Agree, it would look strange somehow and could course you trouble.

 

[Source]

Can I become a resident in Cyprus and thus avoiding the CFC rules? Perhaps paying rent and bills etc. Then I can establish the company with out nominee. Will it be difficult for the authorities to prove I am not a real resident?
What are the dangers of nominee director & shareholders going bad and somehow put the assets on the company at risk? How can this be avoided?
Thank you