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Ireland company vs Cyprus company formation what you think is best?
- Thread starter AlicaFunk
- Start date
I want to second Auric, there is a registar of beneficial owners in Ireland right now but there is no interactions with other countries.
In the future UBO are likely to be disclosed
New Beneficial Owner Transparency Rules in Europe
It is a valid observation. Every single country in EU has to implement the EU directives and this open registrar is not an Irish specific thing it is a EU thing.
European Commission - PRESS RELEASES - Press release - Questions and Answers: Anti-money Laundering Directive
It is very difficult to get a FX license in Cyprus, you need at least EUR 1M in real capital for paid in share capital, office, office supply, staff, servers, certificate, license and so on. takes aprox 6 - 9 months to get such established.
You are taking about broker license right? What about investment research - woudl it need to be licensed likewise?
In the Cyprus I forgot to say that Cyprus is the jurisdiction with the smallest amount of administrative tasks. Ireland has more paperwork.
In order to avoid the dividend withholding that a stamped paper from local authority is needed. Or if you don't have it, you can claim later on a refund for the money you have paid after paying corporate tax.
Also, there is a form to be exempted from some administrative tasks in Ireland. The company has to feel form to prove it is a small business and be allowed to file the minimum of information at year end. In Cyprus it is automated.
Also in Ireland, there is a special association for advertisers. I have never found any laws about it because there is an association who ask advertisers to pay a small % of their turnover. So, theoretically, people who sell advertisements on their websites should pay that.
In order to avoid the dividend withholding that a stamped paper from local authority is needed. Or if you don't have it, you can claim later on a refund for the money you have paid after paying corporate tax.
Also, there is a form to be exempted from some administrative tasks in Ireland. The company has to feel form to prove it is a small business and be allowed to file the minimum of information at year end. In Cyprus it is automated.
Also in Ireland, there is a special association for advertisers. I have never found any laws about it because there is an association who ask advertisers to pay a small % of their turnover. So, theoretically, people who sell advertisements on their websites should pay that.
Economic link:
Also, i would like to mention that in Ireland, in order to open a bank account, bank of ireland ask syou now for a strong economic link in Ireland.
They don't take into account invoices from Google Adsense, Amazon affiliate, linkedin, facebook and all the big internet companies because everyone deals with them online.
Consequently, you have to have deals with local companies to succeed in opening a bank account in Ireland.
Usually the company formation agents forget to mention that opening a bank account in Ireland is not easy.
Also, i would like to mention that in Ireland, in order to open a bank account, bank of ireland ask syou now for a strong economic link in Ireland.
They don't take into account invoices from Google Adsense, Amazon affiliate, linkedin, facebook and all the big internet companies because everyone deals with them online.
Consequently, you have to have deals with local companies to succeed in opening a bank account in Ireland.
Usually the company formation agents forget to mention that opening a bank account in Ireland is not easy.
Cyprus is more adult business friendly:
To this day, all adult websites in .ie have been deactivated by the Irish government.
We don't know if there are adult websites from ireland but we know that all Irish people involved in adult businesses have moved their websites outside of Ireland.
To this day, all adult websites in .ie have been deactivated by the Irish government.
We don't know if there are adult websites from ireland but we know that all Irish people involved in adult businesses have moved their websites outside of Ireland.
Really no Adult Entertainment business allowed any longer? Do you have a link or something that is public available or do they just kick out all adult business in silence like they did in many other European countries?
You don't had success to find an agent that had a strong relationship to any Irish bank that is willing to open accounts? That's pretty bad development for the banks there
Yes but you can appoint nominees to avoid your name to appear anywhere! You can't do that in Ireland
Yes but you can appoint nominees to avoid your name to appear anywhere! You can't do that in Ireland
Is it much more expensive to use nominees in Cyprus than in BVI?
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