Definitive solution to work as a Self Sufficient Malta

[Marzio]

Yes, it's a normal CY LTD company with CY director, only it's not CY resident because management is outside CY

I wouldn't use a romanian SRL because they proably never dealt with structures like this.

I suggest you to speak with @CyprusLawyer101 which has experience with that kind of setup.

 

[ilpablo]

Yes, it's a normal CY LTD company with CY director, only it's not CY resident because management is outside CY

I wouldn't use a romanian SRL because they proably never dealt with structures like this.

I suggest you to speak with @CyprusLawyer101 which has experience with that kind of setup.

@Marzio I'm waiting for @CyprusLawyer101 DM

So without a local director in Cyprus, it doesn't work, right?

Tbh I don't understand how can be a resident in Malta if the director is resident in Cyprus and the company as well?

I thought I must be the director and be a resident but not domiciled in Malta as well to extend this benefit to my company.

 

[Marzio]

As you said the CY LTD is a regular CY LTD and a regular CY LTD by law needs a resident director.

Then this company will become resident but not domiciled in Malta because you managed the company from there.

 

[ilpablo]

As you said the CY LTD is a regular CY LTD and a regular CY LTD by law needs a resident director.

Then this company will become resident but not domiciled in Malta because you managed the company from there.

Understood, however I was asking from the Maltese perspective of the setup. Does the Maltese law require that my company abroad have a local director and substance, or it doesn't matter since it will be considered anyway managed in Malta?

 

[Marzio]

Does the Maltese law require that my company abroad have a local director

It's not the Maltese law that requires your company to have a local director, it's Cyprus law that a CY LTD to have a resident director.

 

[CyprusLawyer101]

It's not the Maltese law that requires your company to have a local director, it's Cyprus law that a CY LTD to have a resident director.

Marzio there is no such requirement in Cyprus companies law.

@ilpablo you may appoint a Maltese resident Director. As a matter of fact this is the way in which the Cy co becomes a Maltese non dom resident co.

 

[Marzio]

Marzio there is no such requirement in Cyprus companies law.

Is it not mandatory for a CY LTD to have a resident director?

 

[CyprusLawyer101]

Is it not mandatory for a CY LTD to have a resident director?

no

 

[Marzio]

no

Amazing then.

@ilpablo even more good news for you!

 

[MarkusCostigan]

How about getting a VAT number for a non resident Cyprus company (Without a shred of substance)? What about EU directives?

 

[cryptomma2]

Interesting set-up as discussed!

Would it actually also mean that the non-resident Cyprus company that is resident non-dom in Malta has to comply with both accounting/audit standards and annual requirements in Malta and Cyprus? I assume that income which would be qualified as "arising in Malta" would be taxed like resident dom Maltese companies, thus 5% effectively after the tax refund?

 

[aiello]

Yes, it's a normal CY LTD company with CY director, only it's not CY resident because management is outside CY

I wouldn't use a romanian SRL because they proably never dealt with structures like this.

I suggest you to speak with @CyprusLawyer101 which has experience with that kind of setup.

Could you pm me? I'd like to book a consulting with you

 

[baio12]

The reason taxation does not arise is because the company is a non domicile company in Malta which does not remit the funds in Malta.

If owner is resident in Malta and want to take profit as dividends so he can spend the money personally how can he do it without remitting funds in Malta first?