If it wasn't so damn difficult to get a BVI company I would have setup one straight - but the documents required, KYC etc. is way too much.
Cyprus non dom + offshore company, most tax efficient setup?
- Thread starter Researcher
- Start date
- Status
Let´s talk numbers here.
So if i read everything correctly you need the cyprus non dom = 0% dividend tax.
Then you need an Offshore Corp (Seychelles f.ex) with preferably substance, which you can buy in this country relatviely cheap. A nominee director for 1.5 - 2k a year should be enough to look like you have substance.
Then you can be shareholder of that seychelles company and pay yourself 0% tax dividends to cyprus.
Cost for that = around 7k for cyprus limited for incorporation and accounting fees for a year
Cost for seychelles with nominee = 3k.
So for around 10k you should︀ be set and relatively legal right?
Can seychelles companies pay out dividends without problems to︁ EU banks?
So if i read everything correctly you need the cyprus non dom = 0% dividend tax.
Then you need an Offshore Corp (Seychelles f.ex) with preferably substance, which you can buy in this country relatviely cheap. A nominee director for 1.5 - 2k a year should be enough to look like you have substance.
Then you can be shareholder of that seychelles company and pay yourself 0% tax dividends to cyprus.
Cost for that = around 7k for cyprus limited for incorporation and accounting fees for a year
Cost for seychelles with nominee = 3k.
So for around 10k you should︀ be set and relatively legal right?
Can seychelles companies pay out dividends without problems to︁ EU banks?
It depends for which country, I will be surprised for the long run.
If you are not managing the company in Cyprus and it is deemed non-resident, it might be possible on CY side. Then, it also depends of shareholder tax residency.
Might even be less.
Also, if you are dealing with EU companies, some of them might not like to deal with a Seychelles company.
Let's see other replies.
If you are not managing the company in Cyprus and it is deemed non-resident, it might be possible on CY side. Then, it also depends of shareholder tax residency.
Might even be less.
Also, if you are dealing with EU companies, some of them might not like to deal with a Seychelles company.
Let's see other replies.
Why would you need a company for that? I always thought you could just go and live there as an EU citizen.
Thank you Sols for clearing that up. I would have been really surprised if you needed the company.
I doubt that that's true. But I'm sure it's something service providers will tell you...
I doubt that that's true. But I'm sure it's something service providers will tell you...
100%.
There are arguments for why having a company can be advantageous (non-dom and/or 60-day). But what these service providers "forget" to tell you is that it also happens to be lucrative for them and not strictly necessary. Package deals become truisms.
There are arguments for why having a company can be advantageous (non-dom and/or 60-day). But what these service providers "forget" to tell you is that it also happens to be lucrative for them and not strictly necessary. Package deals become truisms.
Exactly, you can also hire up locally as a barista to enjoy easy access to the 60-day-rule (and 60+ girls).
The requirements for the 60 day rule are the following:
- the individual stays in Cyprus for at least 60 days in the tax year,
- exercises a business and/or is employed in Cyprus and/or holds an office with a Cyprus tax resident company at any time during the tax year,
- maintains (by owning or leasing) a permanent home in Cyprus.
Correct. See my post above. You︃ can get hired at CyprusLaw(yer) or any bar and enjoy 60 days while getting some︄ pocket money for brewing coffe and preparing drinks.
- Status