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Service Providers for substance
- Thread starter mickey
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Hi, We offer substance in most countries now, but most often in Bahamas, Belize, BVI, Hong Kong, UK, Cyprus. If you have another location that you need substance in, please do let me know. Thanks.
It Is legal to own a Company (even in no-tax countries). As long it's fulfilling the substance requirements, the company is not considered as an offshore company. But you have to take care about the German-CFC-Rules (Control of Foreign Companies). They are some limitations of business-model (Interlectual-Propert-Biz is banned for example) and share-ownership (10% as maximum).
Another drawback is the "Invoice-acceptance-Problem", some German-Tax-Authorities does not accept Invoices by Offshore-Companies as tax reduction (even if they are fulfilling their substance requirements) because they still think these are shady Offshore-Companies without any substance.
Substance building is in fact helping find some Staff to hire (part time) and renting office-space. How much Staff and Office room differs from low/no-tax jurisdiction to low/no-tax jurisdiction.
Hello, I'm looking for this substance package - do you have something like this in Bulgaria or Romania? What does include? My DMs are open, thanks!
If you know how many years I have heard this, at least 10 years. Cyprus is still there, many even relocate to Cyprus. Just yesterday I read in some financial papers that some of the 40 of the most wealthy people from Norway relocate on mass, a handful of them also choose Cyprus among Italy and Switzerland. I believe if you have $+15 billion in your bank account, you have made your homework.
Just my thoughts.
Former Google CEO Eric Schmidt reportedly applied to become a citizen of Cyprus
https://www.cnbc.com/2020/11/09/eric-schmidt-reportedly-applied-to-become-a-citizen-of-cyprus.html
Jon Olsson
Surendra Hiranandani
https://mumbaimirror.indiatimes.com...itizen-of-cyprus-now/articleshow/63822609.cms
https://en.wikipedia.org/wiki/List_of_Cypriot_billionaires_by_net_worth
https://en.wikipedia.org/wiki/John_Fredriksen
IMHO any country with 1 million plus population is not risky business as some small Island country......If they have at least one million population which means they have some real economy....
But end of the day It is subject what you like and which setup you like easy ....It is personal choice...nothing is perfect in the world.....choose what fits you...
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you need an office, phone number and some people that work there and can pick up a phone + receive post.
would a virtual office suffice or are they mostly looking for physical presence? does anyone know of anyone being caught out with a virtual office/reception?
From what I see (no advice obviously) this has mostly to do with how much substance you already have in this jurisdiction. E.g., if you live there, a virtual office will often be fine. If you have management and employees there (maybe at another location or they work from home), then it will likely be fine.
If not (e.g. ran from outside of the country, etc.) then I think they will not find it to be sufficient.
I rent a real office and employed some part time staff (more or less fake) that pick up the phone and let the entire setup look real.
Costs per months is only 1800 euro, it's worth it for me.
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