Swedish resident with Cyprus bank?

[Zett]

Hello.


I have a company registered in Seychelles and I am about to open a bank account in Cyprus.


I wonder if the Swedish national tax board somehow can get information that I own a bank account in Cyprus? And is it illegal for me to have a Seychelles company with Cyprus bank and pay no VAT or tax for internet hosting business? (As long as the money will stay on the bank account)


Regards

 

[tax-haven]

As far as I know the Seychelles has no TIEA nor DTA with Sweden so it will be difficult for any authority who's country now have signed an tax exchange agreement with the Seychelles to get access to personal information about their citizens.


It is not illegal to have a Seychelles company or any other offshore company which owns a bank account, the problem comes with the tax reporting, you will need to prove the company to be operating from the Seychelles! Personally I think it is no difficult but hey I don't live in Europe so don't have any problems like yours..

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[JohnLocke]

And is it illegal for me to have a Seychelles company with Cyprus bank
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No that's not the case, only if you don't declare the tax that has to be paid, or find an other way to leave the company without money.

I wonder if the Swedish national tax board somehow can get information that I own a bank account in Cyprus?
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You will not have any privacy protection with a Cyprus bank account against the tax authorities!

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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.​

 

[OAEC]

If the Swedish Tax Board ask the Cyprus Bank they will generally disclose the information. Seychelles Offshore Companies pay no tax in the Seychelles. Many people have a full nominee service in the Seychelles.