Hello, I have recently ordered Ready Made Cyprus Company with CClogic all is good with them and professionall like always, I'm Director of this company and this is resident Cyprus company, so I'm obligated to pay 12,5 % tax, in the next 2 weeks I'm thinking to appoint nominees directors/shareholders for this company due to anonymity with is important for me..and I'm thinking to change this company as non resident to get 0 % tax, can someone explain me if it is possible to change this company as non resident and if it reduce cost for accounting and audit yearly report ?? thank you for help
Resident or Non resident Cyprus Company which one to choose to reduce costs ?
- Thread starter ajo
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Yes costs for accounting are almost the same, since there are still obligations to file tax and keep books etc. Usually it is not a problem to change the status of the company if the director and shareholder are outside of Cyprus. Means, the company can get status as non resident and will not have to pay any corporate tax.
Once issue that may rise is if you want to be registered for VAT, that's not possible, also it is not possible to get a resident certificate for obvious reasons.
Feel free to ask additionally if needed.
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Once issue that may rise is if you want to be registered for VAT, that's not possible, also it is not possible to get a resident certificate for obvious reasons.
Feel free to ask additionally if needed.
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If some tax authority will catch you then one will face huge fines and in certain cases prison will be the result😱
I would recommend to check your offshore structure before you start doing any business and receive money.
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
I would recommend to check your offshore structure before you start doing any business and receive money.
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
Well if you make use of the double tax treaty between Cyprus and your country (if there is one) it is not tax evasion! That's what huge corporations like Google, Microsoft etc. are doing for ages.
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when company will be non resident (foreginers directors/shareholders) then Can I take out money from Cyprus to my home country and just pay here at my home country personal income tax, and everything will be ok, or it is still tax evasion because I'm not paying corporate tax anywhere?
You can do that. You just need to let you local tax office know the exact amount you have received from the Cyprus company and that need to be taxed. Sometimes the tax authorities will ask for beneficial ownership of the Cyprus company and what tax it pay in the offshore jurisdiction.
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
You may conslt a local tax adviser as well since sometimes there may be other issues or even solutions to reduce tax.
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