Why have a VAT id for a Cyprus company?

[epaphus]

Iam a foreigner from the EU, I wish to use this company to process payments and send them back to me.


Why do some people seek the company to have a VAT id? Would i need one?

 

[JohnLocke]

Well, if you are doing business in Europe you will need to have a VAT number for your Cyprus company in order to trade. If the purpose of the Cyprus company is more like an Holding company or for private investment you don't need a VAT number!

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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.​

 

[johnskywalker]

Its like a normal ID. A Vat ID is created for the sole purpose of identification of your Value Added Tax.

Try to read it more here VAT identification number - Wikipedia, the free encyclopedia

 

[Sany zeth]

this company? Which company you are talking about?