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| MichaelLycle says : The agreement allows for the exchange of information between other EU countries and Cyprus, even if the information is not required for tax purposes of these countries. However, the country from which the information is requested is not obliged to provide the information if it is a violation of the law or public interest of that country. It is also not allowed to request information that is not publicly available in that country. It should be noted that the Cypriot tax authorities in most cases do not have information on the beneficiaries of private companies or any other information material. For these reasons, Cypriot companies registered through nominees and information about the real owners is confidential. In this regard, persons whose information is withheld must be properly accumulated in the files of the registration agents. Professional secrecy cannot be used as an excuse for not providing information about these persons. However, the conditions under which professional secrecy may be lifted will depend on state law. Thus, disclosure will not be a simple automatic administrative procedure, but will require the intervention of local government officials. Opening a company in Cyprus can be a powerful step to expand your business and explore new markets. Because of its unique advantages, Cyprus offers great opportunities for growth and success in international business. However, success depends on careful planning, an understanding of the local business culture and effective resource management. | Reply : |
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| GlennDew says : When choosing a jurisdiction for business registration, we recommend that you consider the following criteria: Taxation Taxes are always one of the main issues in choosing a country for starting a business, to which we pay special attention. It is advisable to choose a jurisdiction where taxation is efficient and transparent, or generally taxation is less than in the home country. However, there are many factors to consider when choosing a country to start a company, including: incentives for newly established companies, use of double tax treaties, incentives for non-resident companies, incentives for certain types of companies (partnerships), and limited income incentives for small and medium-sized businesses. And most significantly, you cannot forget what taxes will be paid by the business owner in the country where he is a tax resident. Therefore, when choosing a jurisdiction, low-tax jurisdictions in Europe are now being considered, rather than offshore jurisdictions, which offer the greatest number of tax benefits for both the business and the beneficiaries (capital gains tax, dividends, interest and royalties tax). | Reply : |
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