Quote:
Originally Posted by tol120
from talking more to people it indeed appears that banking in Cyprus is not a good idea, but it's feasible to be incorporated in Cyprus and have a bank account elsewhere
but I'm wondering if paying the lower corporate tax rate in Cyprus is somehow seen as tax avoidance or is it ok as tax minimisation as long as you declare, and how does an international co holding affect your local tax bill?
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some countries will expect from you to pay income tax for business you did there if you spend (and work) more than 183 days per year there (this is especially checked in Germany) so if you have Cyprus or offshore company and doing sales over internet, it is smart to move around
it is hard to prove as you can move freely in EU...
also you have to see what are you going to do with VAT, not only with income tax (as I remember, you can choose to pen non-resident Cyprus company and choose to have 0 income tax, but you can't get EU VAT number)
other thing, maybe not important for you, but maybe it is - Cyprus does not recommend to have employees in that company so if you plan agency/content production on your own, maybe is even better to open local company as you will have daily expenses and bills. if job is internet based and you open Cyprus or offshore, be careful where are you living