Hi,
I have a high tax European passport and I will move to Cyprus to take advantage of the non-dom tax regime.
I develop my own iOS/Android apps so my income (about 70k a year) is coming from both Apple and Admob/Google.
Important fact here is that Admob/Google forces both the company and bank account to be in the same country.
After a lot of research I got to the below strategy:
- Non-dom regime in Cyprus (will move to Cyprus and will meet all the requirements)
- Register in Cyprus as self employed (lower yearly costs when comparing with having a company)
- HK Offshore company + HK bank account where I will receive the payments from Apple/Google (I am assuming I will be able to open the bank account - Really wanted to go with the BVI IBC + BVI Bank but banking safety is a concern, any suggestions here are appreciated)
- Will use available EMIs to transfer salary/dividends to my personal account in Cyprus (not sure whether this is the best approach though)
Can you please let me know whether you see any issues? Feel free to criticize.
Thanks
I have a high tax European passport and I will move to Cyprus to take advantage of the non-dom tax regime.
I develop my own iOS/Android apps so my income (about 70k a year) is coming from both Apple and Admob/Google.
Important fact here is that Admob/Google forces both the company and bank account to be in the same country.
After a lot of research I got to the below strategy:
- Non-dom regime in Cyprus (will move to Cyprus and will meet all the requirements)
- Register in Cyprus as self employed (lower yearly costs when comparing with having a company)
- HK Offshore company + HK bank account where I will receive the payments from Apple/Google (I am assuming I will be able to open the bank account - Really wanted to go with the BVI IBC + BVI Bank but banking safety is a concern, any suggestions here are appreciated)
- Will use available EMIs to transfer salary/dividends to my personal account in Cyprus (not sure whether this is the best approach though)
Can you please let me know whether you see any issues? Feel free to criticize.
Thanks