Recent content by CyprusLaw

1. If there is tax on crypto it will be a separate percentage for personal trading and a separate one under a company. 2. Retrospectively does not necessarily mean it will go years back - that won't be possible, but they could come up next May and say that it applies from 1/1/2025 for example...

Personal taxation works at bands from 20-35%, with social insurance obligations also applying in some cases depending on your activities. So I am not sure why you refer to 15%. For point 4 you are simply assuming that there will be no retrospective effect - however remote the chance it is still...

1. At some point you need to cash out. 2. There is no formal ruling that crypto to crypto is tax free or the opposite. 3. Hence the safest approach is to take it under a company so that you pay some taxes, instead of completely avoiding paying taxes. 4. There is no guarantee that there...

Whether or not an audit applies on a physical person depends on several factors, it is not as straightforward as one would present it. Also please note that a tax report is obligatory whether or not you have taxable income. Each case should be treated on a case by case basis, and you should seek...

the fact that a transaction is non taxable it does not make it non reportable. So no accounting is not that simple, exactly the opposite

Please note that there is no legal basis on this matter. There has been no tax guidance on profit from cryptocurrency, therefore any allegations that profits (when converted to fiat) are tax free are unsubstantiated and potentially bear a high risk.

At the moment there is no guidance, therefore the realisation of the gain (i.e. conversion to fiat) is treated as a taxable event. However, I would disagree on the assessment that you need to make over 300,000 per year to benefit from making a company taking into account the following: (a)...

Noted you can try again now thanks :)

Assuming your question relates to the address details you will submit as the UBO for the incorporation of the company, in order to act as secretary of the company you will need to provide the Cyprus address, this also applies for the registered address for the company. If you were only going...

My reply was going towards Sergeylim and was actually agreeing with your posti essentially. In Cyprus our profession is fully regulated (or overregulated if I may say).

You should only work with licensed law firms/aministrative service providers. We are regulated, and therefore this ensures your security when using a nominee.

The Cyprus company can purchase it and show R&D towards improving the product or modifying it to fit anither purpose for example.

Provided that you structure it so as to be deemed qualifying income and qualifying assets this will work.

This is not regulated under Cyprus law - it is regulated by the Articles of Association of each company - therefore if there is no restriction in the Articles dividends can be declared at any point in the year and as many times, save for the restriction that it has to be from the profits.

Under Cyprus law there is no set procedure for the distribution of dividends. This is regulated by the Articles of Association of each company, and guidance also derives from common law. A company can declare and distribute interim and final dividends. While interim dividends are declared and...