Cyprus company with Malaysian residence for trading?

[Kakarot]

that's better than UAE because the company fees alone each year are over 5000 USD.

Can you elaborate please on how one needs to structure a general trading company in cyprus to achieve the lowest tax possible?

banks are easy enough to get there?

I'd need to lease a home there to qualify for this right? And spend 60 days of the year to be tax resident there -- so how are rental rates there? It's ok to sublet my place out when I'm not there 10 months of the year?

 

[JohnLocke]

In practice, many traders are running Cyprus entities with simple nominee structures. Pay like 4k annually, let lawyers do the paperwork, and enjoy life with 0% tax.

I totally agree, but then again as @GANGE already said:

you could also give your money at some very clever TRUST entities for investments in Switzerland, Liechtenstein or where you want, the only problem are the general costs balanced with the risks, in Europe as in the Carribean there are many money robbers and it is very difficult to trust in someone

 

[Kakarot]

Can you elaborate Don on how you structure and achieve this with a general trading company in cyprus?

"In practice, many traders are running Cyprus entities with simple nominee structures. Pay like 4k annually, let lawyers do the paperwork, and enjoy life with 0% tax"

the basic loophole is that you cannot be the UBO -- you need a cypriot citizen as your UBO? or just the director or majority shareholder or...

 

[Don]

that's better than UAE because the company fees alone each year are over 5000 USD.

Can you elaborate please on how one needs to structure a general trading company in cyprus to achieve the lowest tax possible?

banks are easy enough to get there?

I'd need to lease a home there to qualify for this right? And spend 60 days of the year to be tax resident there -- so how are rental rates there? It's ok to sublet my place out when I'm not there 10 months of the year?

It's generally structured as passive income, where you will remain UBO.
Regarding banking, most use EMI-s. Banking is easy only when you have a lot of money with clear SOF.
Regarding renting a home in Cyprus, yes it will be required if you intend to qualify as a non-dom. You can sublet it, and in some cases, we offer a solution where you pay a very low rental fee year-round without actually using the premises, only to fill the requirements on paper.
For real estate, please check Bazaraki.com - No.1 classifieds website in Cyprus. Sell or buy cars, real estate, motorcycles, computers, electronics and much more. Free registration.

As with everything, I agree that there are certain drawbacks and risks attached.
The key is choosing the right service provider and diversifying as much as possible to mitigate risks.
If I was too worried I would first test the setup out for a while without putting too much money in there, to establish trust.
I also recommend visiting Cyprus and the service provider physically.

 

[Piano]

It's generally structured as passive income, where you will remain UBO.
Regarding banking, most use EMI-s. Banking is easy only when you have a lot of money with clear SOF.
Regarding renting a home in Cyprus, yes it will be required if you intend to qualify as a non-dom. You can sublet it, and in some cases, we offer a solution where you pay a very low rental fee year-round without actually using the premises, only to fill the requirements on paper.
For real estate, please check Bazaraki.com - No.1 classifieds website in Cyprus. Sell or buy cars, real estate, motorcycles, computers, electronics and much more. Free registration.

As with everything, I agree that there are certain drawbacks and risks attached.
The key is choosing the right service provider and diversifying as much as possible to mitigate risks.
If I was too worried I would first test the setup out for a while without putting too much money in there, to establish trust.
I also recommend visiting Cyprus and the service provider physically.

Hello Don,


do you have any recommendations for service providers in Cyprus ?
yourself ?

 

[Don]

Hello Don,


do you have any recommendations for service providers in Cyprus ?
yourself ?

Hi! Yes. Will pm you.

 

[amork83]

Why not just apply for the cyprus non dom by registering and trading as self employed? Minimum social security plus health tax and accounting fee will put you at about 5 % tax? Please correct me if I'm wrong.

 

[CyprusLaw]

Why not just apply for the cyprus non dom by registering and trading as self employed? Minimum social security plus health tax and accounting fee will put you at about 5 % tax? Please correct me if I'm wrong.

Social security would be 15.6% and GHS 2.65%

 

[amork83]

My belief was that income stemming from sale of securities would not count towards social security, thus you would only have to pay 15,6% on a minimum of ca 8-9k. Incorrect?

 

[GrumpyMess]

In practice, many traders are running Cyprus entities with simple nominee structures. Pay like 4k annually, let lawyers do the paperwork, and enjoy life with 0% tax.

What are the reliable options from such structures other than trusts? I suspect nominals won't help with place of effective management? However as far as I know the company can't be resident in both countries as a general rule. That's why CFC law appeared.

My belief was that income stemming from sale of securities would not count towards social security, thus you would only have to pay 15,6% on a minimum of ca 8-9k. Incorrect?

Can anyone confirm this?