It is true, but your tax office won't stop there depending on the amount and how aggressive they are. They can request Revolut to send account statements for the period you have been using them, after that you will have to explain your self.
can confirm, you better report the account to the tax office before the tax office will get your balance. Once they see it they will request documents from you and the game starts.
You must have receipts from restaurants and hotels, and if possible let your customer or business partner sign on the receipt from restaurants.
I believe the Cyprus tax auth. isn't that picky about it, but you never know.
@CyprusLaw @CyprusLawyer101 may know better.
How do you get around with it?
https://www.offshorecorptalk.com/threads/you-need-a-real-address-and-director-for-a-uk-ltd.43463/
In the above thread you can learn how to get setup anonymously, you just need to replace the provider and you will be ready in a few days with no trails.
Scotia bank in Belize was used to be easy to open account with years ago. I know that because I bought a Belize company with an bank account at this bank for only 600$ in total.
Most will have left the boat back then, I can't imagine what use you have for a Seychelles company today! Maybe some business people with real business doing business in Asia.
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