Will a non resident Cyprus Company which is exempted tax, have to file annual report

[clemens]

Wondering if a non resident / foreign copany in Cyprus which don't have to pay any tax due to its status still have to file the annual Report?


If there is no tax to pay then there should be no reason to file the report 😕

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[JohnLocke]

Hi Clemens,

All Cyprus companies, Tax Resident or Non tax resident must prepare audited financial‌ statements and file tax returns.

 

[pluma]

Sounds somehow strange, why should a non tax resident company need to file a annual‌ report etc. while it don't have to pay any tax anyway.

 

[Neytiri]

What is the purpose?

 

[JohnLocke]

The tax authorities there will want to check what activities there have been in⁠ the company and that this activity didn't has to be taxed, some sort of control,⁤ hope it makes more sense 😉

 

[wy0453]

Wow! I’ve never heard of this before and I think they’re awesome!

 

[sonato]

Will it be the same fee I have to pay if I have a non‌ resident Cyprus company in regards to the annual report or could it be a more‍ simple & less expensive one ?

 

[JohnLocke]

It is less you will have to pay for the reporting, since it won't be‌ complicated to file it compared to a regular resident Cyprus company.

 

[clemens]

I can confirm that the fee isn't that much for accounting and filing of the‌ tax report if the company is registered non resident.

 

[deadpool]

How would they go on‍ about filing tax returns? How would such calculations work?

 

[JohnLocke]

Usually you ask an accountant to do the job.

 

[Sansa]

Admin is right. Just a tip, hire the accountant that you can trust the most since‌ he will access your money and you don't want anything bad happen to it 🙂

 

[negon]

Most often you can file a dormant report for the company which is fast and‌ cheaper to get done compared to a active company that has lots of activity.