I'm a IT Contractor working all around Europe working Cyprus Company?

[EliasIT]

I'm a IT Contractor working all around Europe and would like to known if working with a Cyprus company would be beneficial to me.


With a Cyprus company incorporated is it possible:


To make contracts with contracting agencies? Who will sign the contracts, the nominee director?


Can the shareholder be an employee of the company and have a salary? Which status, employee, self-employed, where are the taxes and social security payments made, the employees residence or place of work? who will take care of the formalities (paperwork at social security, inland revenue,...)


Who takes care of the taxes, for the employees?


What vat will apply doing business with European countries (excluding Cyprus)?


Besides the incorporation fees are there any fees for each invoice, and if yes how much?


What is the minimum capital to form the company?


Can payments to you be made by postal office or using western union?

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[JohnLocke]

To make contracts with contracting agencies? Who will sign the contracts, the nominee director?


Yes and if a nominee director is inserted the Nominee director will sign.


Can the shareholder be an employee of the company and have a salary?


That's possible but nothing most clients do.


Which status, employee, self-employed, where are the taxes and social security payments made, the employees residence or place of work?


You will have to manage this yourself or pay us for doing this for you, nothing we can recommend if you don't plan to be a resident of Cyprus.


Who takes care of the taxes, for the employees?


You will need to do so, or pay us for this work.


Besides the incorporation fees are there any fees for each invoice, and if yes how much?


Depends if you want us to do the accounting we will charge for this, otherwise there are fees for the annual audit and reporting of financial reports, the fee depends very much on the number of Invoices in/out you may have.


What is the minimum capital to form the company?


There is no minimal share capital, and it don't need to be paid in.


Can payments to you be made by postal office or using western union?


WU or Wire Transfer are the payment options available.


I hope the above clarify some of your questions and consideration.

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[EliasIT]

First of all many thanks for your cooperation. Regarding your answers I think having a Cyprus company to do my business might be difficult


If I explain the scenario maybe you can tell me in a more precise way if I could use your services to run my business...


I am an IT/SAP consultant that works all around Europe; I get the contracts from the contracting agencies.


Instead of having a third part involved in the process I would like to work with my own company (even if anonymous)


So the company would do business with the agencies and as an employee I would be assigned the work, that means I would have


to have a juridical (work contract) with the company - and having a salary, taxes and social security paid and also expenses (travelling, accommodation namely).


Can you please tell me if I could use your services (creating a Cyprus company) to run my business, regarding the scenario?

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[Belarious]

EliasIT did you had any luck with the company in Cyprus?

 

[Safa]

Generally you will always benefit from a Cyprus company if you want to avoid to pay high tax in other European countries beeing a European yourself! that said, you will need some tax advisor to help you for your needs specific.

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[system32]

Belarious said:
EliasIT did you had any luck with the company in Cyprus?
Click to expand...

Yes please share your expirience with us so it can help others 🙂

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[JohnLocke]

From a competition point of view and if done correct it can be very beneficial in regards to earnings and pricing of ones products to conduct any online business from a Cyprus company.

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[EliasIT]

Belarious said:
EliasIT did you had any luck with the company in Cyprus?
Click to expand...

Yes I started the incorporation of the company Monday this week it Im excited to get it all done.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
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[provider]

So no reply means you are busy doing business or you still not have your company?

 

[EliasIT]

Busy doing Business :tongue: No I didn't got my company yet but name is approved an registration is taking place so I'm fine.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[system32]

Good luck to you... it is worth waiting for the company registration to take place and get your business started.

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No matter what the level of ability, you have more potential than you can develop in a lifetime.

 

[EliasIT]

I promise everyone to give an update and I'm glad to say that My Seychelles company with Registration number 87052 has been succesfully incorporated with the help and great support of cclogic :thumbsUp::thumbsUp: - Only the bank account seems to be a little more difficult but we still have hope 😢 and since we are not in a rush then it is OK.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[TheGrave]

EliasIT said:
I promise everyone to give an update and I'm glad to say that My Seychelles company with Registration number 87052 has been succesfully incorporated with the help and great support of cclogic :thumbsUp::thumbsUp: - Only the bank account seems to be a little more difficult but we still have hope 😢 and since we are not in a rush then it is OK.
Click to expand...

How did the Cyprus setup work for you? I'm in the same situation as you are and thinking about alternatives for my current setup.