Gibraltar or Cyprus For EU Based Processing? - GoFuckYourself.com

Odin · 02-19-2011, 05:12 AM

Just wondering if anywhere here has some advice. Gibraltar looks like the more simplistic solution, however I am not entirely clear on their position relating to adult? Also is Gibraltar subject to the same VAT obligations as Cyprus (I know you can structure the processing so the Cyprus company is providing a service to a foreign based company to avoid this)?

Any help greatly appreciated.

Chosen · 02-19-2011, 05:33 AM

Cyprus sucks...

Odin · 02-19-2011, 05:35 AM

Mind if I ask why you say that?

Dappz · 02-19-2011, 05:44 AM

i think cyprus is good in based processing EU

u-Bob · 02-19-2011, 06:00 AM

Gibraltar is part of the EU but not of the EU VAT zone. Cyprus is part of the EU and part of the EU VAT zone.

Odin · 02-19-2011, 06:02 AM

Thank you u-Bob, I wasn't exactly clear on that, so your reply helped. Any idea what the reasoning is for why so many Adult companies are choosing Cyprus over Gibraltar? Gibraltar, particularly now I am aware of exemption from VAT, is a hell of a lot more straight forward.

mineistaken · 02-19-2011, 03:12 PM

Quote:

Originally Posted by u-Bob

Gibraltar is part of the EU but not of the EU VAT zone. Cyprus is part of the EU and part of the EU VAT zone.

There is no such thing as "EU VAT zone" . Its either EU country charge VAT or not. Its up to the country. Cyprus charge VAT, Gybraltar does not charge VAT.

mineistaken · 02-19-2011, 03:16 PM

Quote:

Originally Posted by Odin

Thank you u-Bob, I wasn't exactly clear on that, so your reply helped. Any idea what the reasoning is for why so many Adult companies are choosing Cyprus over Gibraltar? Gibraltar, particularly now I am aware of exemption from VAT, is a hell of a lot more straight forward.

Its not because of VAT, there are many other taxes. Cyprus is one of the lowest tax EU country in EU. Thats why many people choose it. There are +- 6 kind of taxes for a company (only one of them is VAT) and combination of those 6 taxes is most likely best (or its in top 3 EU) in Cyprus. Thats why many people choose Cyprus.

mineistaken · 02-19-2011, 03:20 PM

http://www.marcheseuropeens.com/docu...ery-index.html - here is tax misery index (its 2008 though, but you get an idea). Ones at the bottom are most "business friendly". So as for EU it would be Malta, Cyprus, Bulgaria, Lithuania at the bottom. Gibraltar not included though, its part of UK but with better taxes.

u-Bob · 02-19-2011, 06:02 PM

Quote:

Originally Posted by mineistaken

There is no such thing as "EU VAT zone" .

Yes there is. It's officially called the "European Union Value Added Tax Area". It's the VAT percentage that varies from country to country.

lagcam · 02-19-2011, 09:00 PM

Look closely at the administration fees and audit requirements for Gibraltar.

Costs can rack up there.

Odin · 02-21-2011, 02:18 AM

Thanks for the feedback so far, some useful points bought up. Just a bump for any further opinions on this matter. Thanks.

Konda · 02-21-2011, 02:26 AM

Both of them are not keen on adult, you have to hide that you work in adult. The banks and incorporation companies won't work with you if they know it's adult.

For a Cyprus company you need to submit accounting every year, you have to submit invoices/documentation for all incoming and outgoing money. You need an accountant to submit this, so there are extra costs you have to take into consideration.

02-19-2011, 05:12 AM	#1
Odin Confirmed User Industry Role: Join Date: Jan 2004 Location: au Posts: 2,545	Gibraltar or Cyprus For EU Based Processing? Just wondering if anywhere here has some advice. Gibraltar looks like the more simplistic solution, however I am not entirely clear on their position relating to adult? Also is Gibraltar subject to the same VAT obligations as Cyprus (I know you can structure the processing so the Cyprus company is providing a service to a foreign based company to avoid this)? Any help greatly appreciated. __________________ ICQ: 637//961--015

02-19-2011, 05:35 AM	#3
Odin Confirmed User Industry Role: Join Date: Jan 2004 Location: au Posts: 2,545	Mind if I ask why you say that? __________________ ICQ: 637//961--015

02-19-2011, 05:44 AM	#4
Dappz Confirmed User Join Date: Dec 2009 Posts: 997	i think cyprus is good in based processing EU __________________ Hentai Artist * Draw My Anime * HentaiLovers * hentaiG4H * ICQ : 657458

02-19-2011, 06:02 AM	#6
Odin Confirmed User Industry Role: Join Date: Jan 2004 Location: au Posts: 2,545	Thank you u-Bob, I wasn't exactly clear on that, so your reply helped. Any idea what the reasoning is for why so many Adult companies are choosing Cyprus over Gibraltar? Gibraltar, particularly now I am aware of exemption from VAT, is a hell of a lot more straight forward. __________________ ICQ: 637//961--015

02-19-2011, 03:20 PM	#9
mineistaken See signature :) Industry Role: Join Date: Apr 2007 Location: ICQ 363 097 773 Posts: 29,656	http://www.marcheseuropeens.com/docu...ery-index.html - here is tax misery index (its 2008 though, but you get an idea). Ones at the bottom are most "business friendly". So as for EU it would be Malta, Cyprus, Bulgaria, Lithuania at the bottom. Gibraltar not included though, its part of UK but with better taxes. Last edited by mineistaken; 02-19-2011 at 03:22 PM..

02-19-2011, 05:33 AM	#2
Chosen VIPPay.com \| AdultWebSponsors.com Industry Role: Join Date: Aug 2001 Posts: 63,151	Cyprus sucks...

02-19-2011, 06:00 AM	#5
u-Bob there's no $$$ in porn Industry Role: Join Date: Jul 2005 Location: icq: 195./568.-230 (btw: not getting offline msgs) Posts: 33,063	Gibraltar is part of the EU but not of the EU VAT zone. Cyprus is part of the EU and part of the EU VAT zone.

02-19-2011, 09:00 PM	#11
lagcam Confirmed User Industry Role: Join Date: Jul 2007 Posts: 2,892	Look closely at the administration fees and audit requirements for Gibraltar. Costs can rack up there. __________________ Working Cam site for sale - NOT affiliate.

02-21-2011, 02:18 AM	#12
Odin Confirmed User Industry Role: Join Date: Jan 2004 Location: au Posts: 2,545	Thanks for the feedback so far, some useful points bought up. Just a bump for any further opinions on this matter. Thanks. __________________ ICQ: 637//961--015

02-21-2011, 02:26 AM	#13
Konda ... Industry Role: Join Date: Apr 2003 Posts: 2,280	Both of them are not keen on adult, you have to hide that you work in adult. The banks and incorporation companies won't work with you if they know it's adult. For a Cyprus company you need to submit accounting every year, you have to submit invoices/documentation for all incoming and outgoing money. You need an accountant to submit this, so there are extra costs you have to take into consideration.