Offshore Company or Cyprus company what you think is best?

[ponyphony]

I'm a very confused guy that have been reading this forum for a while and looking to get a picture of what the best decision for my business needs is.

I have several business activities some of them are online business but most is offline where I'm selling marketing stuff to companies in my local area.

I'm located in France and I hate the huge administrative burden, tax is not my issue I love to pay tax but the administration and the costs are killing my business.

So what is the major difference between an offshore company and a Cyprus company? I read that a Cyprus company can void to pay tax (i.e. same as offshore companies can) and that accounting and filing of tax each year can be done by an certified accountant in Cyprus without work from our site. This seems all to be good.

A Cyprus company would also look more legit towards my customers compared to Seychelles, Belize or Panama which will look very suspicious to them.

Please help me to decide.

 

[JohnLocke]

The sort answer to your question is, setup a Cyprus company it looks like what you want to do. From how I read your business and the way you are making money a Cyprus company would let your entire business look legit exactly the same way as your company in France already does. Some of your "offline customers" may ask you why to transfer the money to Cyprus account but that's easy to explain, it's part of the EU and you use it to collect payments from all your business activities because of Administration reasons.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[ponyphony]

Thank you for your quick response. I was thinking the same because of the fact that Cyprus looks more legit as an offshore company.

Do you know how long it take to setup a Cyprus company from start to when I can start invoicing my customers?

 

[happyjohn]

ponyphony said:
Do you know how long it take to setup a Cyprus company from start to when I can start invoicing my customers?
Click to expand...

My Company took only 5 days to be incorporated but I have heard it take up to 10 and even 15 days to get the company registered in Cyprus. Once it is registered and you have the Company number you can just get started.

 

[negon]

My Belize company took exact 1 business day to get incorporated and registration number to be available.

 

[ponyphony]

Okay great. Do I need to get may company registered for VAT if registered in Cyprus I see some posts about that it is required?

Another question is, would it be better to register a Seychelles holding company now and then the Cyprus trading or can I do the SC company later?

 

[JohnLocke]

ponyphony said:
Do you know how long it take to setup a Cyprus company from start to when I can start invoicing my customers?
Click to expand...

Takes only a few days to get the registration number of the company so you can get started invoicing your customers.

ponyphony said:
Okay great. Do I need to get may company registered for VAT if registered in Cyprus I see some posts about that it is required?
Click to expand...

It depends, if you are doing business within the EU you may want to be registered for VAT, this is not a issie neither, takes 3 days and is a very easy process.

ponyphony said:
Another question is, would it be better to register a Seychelles holding company now and then the Cyprus trading or can I do the SC company later?
Click to expand...

You normally want to registere the Seychelles holding company first and then the Cyprus company!

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[SasxInc]

ponyphony said:
I'm located in France and I hate the huge administrative burden, tax is not my issue I love to pay tax but the administration and the costs are killing my business.
Click to expand...

This is one of the main reason why we doing offshore company. Administrative is the real culprit of local businesses 🙁

 

[Jack Dui]

happyjohn said:
My Company took only 5 days to be incorporated but I have heard it take up to 10 and even 15 days to get the company registered in Cyprus. Once it is registered and you have the Company number you can just get started.
Click to expand...

Only 5 days? i wonder which agent or law farm you used. Can you please shoot me a PM, it'll be my pleasure🙂

 

[RamsayB]

ponyphony said:
Okay great. Do I need to get may company registered for VAT if registered in Cyprus I see some posts about that it is required?

Another question is, would it be better to register a Seychelles holding company now and then the Cyprus trading or can I do the SC company later?
Click to expand...

I think its easier to register a Seychelles rather than a Cyprus these days because of the growing population of Cyprus.

 

[GoGoldPro]

From what I have been discussing with an agent it's the exact same procedure to register a company in almost any offshore jurisdiction the questions is, which offshore jurisdiction is providing you with what you look for.!!

 

[drillbill]

You will find exception like BVI and Seychelles which are asking for reference letters and stuff like that.

Toggle signature
Hey, I don't make the news. I only report it! 😎

 

[Cyrus05]

GoGoldPro said:
From what I have been discussing with an agent it's the exact same procedure to register a company in almost any offshore jurisdiction the questions is, which offshore jurisdiction is providing you with what you look for.!!
Click to expand...

GoGoldPro is right, every country has the same aspect in regards to the applicants of an offshore company, but every country has also its advantage and disadvantage. Some might say Netherlands would be the best for IT related businesses since it offers a high speed but cheap and affordable internet which will be the most basic need of an IT business. It is also one of the top 10 mostly sought country for an offshore activity.