Worth mentioning that the cost of setting up and maintaining a business in Cyprus is quite expensive. Around €2000 for setup and €5000 per year for accounting, fees, tax audit, registered office.
Yes great videos but those annual fees seem extremely high especially if your a small business and compared to UK limited costs . Am looking into this but annual costs could mean it’s not viable but we will see
Very useful video and accurate information. I did all the process last year and it is exactly as you describe it. In fact, all your videos give a very precise and reliable info. Congrats and thanks for all your efforts and time in helping others! 👏👏👏
Hi Castolo, have you come across a list of authrised agent companies,? I want to open a company, but am worried about just googling my way to such a company. Or maybe, if you were happy with the agent that helped you, could you let me know? thanks a lot!!!
Wieder ein tolles Aufschlussreiches Video!! Sind kommende Woche für ein paar Tage (Mi-Fr) in Paphos um uns ein Mietobjekt zu suchen 😅 Der ganze Papierkram steht jetzt auch bei uns an..
Hey Rico, can you do a video on running a crypto company from Cyprus? Specially, how do banks see Crypto, who to bank with, things to watch out for etc? Would really appreciate it.
Hey there! As I'm also into Crypto with one of my companies, I can say that it is very hard in Cyprus at the moment. Banks don't like Crypto transfers, taxation is unclear and accounting is hard. Hope this helps for now! :)
Cyprus is my go to destination for business setup personally, to setup my businesses there I worked with Bolster Group, my best partner for all the paperwork, to everyone that want to operate from cyprus, I highly recommand, it's a very nice place to live
Hi Rico, let me know if you are also in the IT industry. I'm looking to make Business deals 🤝 with IT Businesses in the Cyprus region. I have almost all the documents ready.
Can I just check my understanding …do you only need a company for non dom status if you want it stay in Cyprus less than 183 days a year? Ie the min 60 day option thank you
Hey man great video, I'm looking to do the same thing to escape the UK hell hole which is pushing up corporation taxes to 25% next year, as well as a whole bunch of other tax increases! I'm torn between Cyprus and Bulgaria (10%), but I think maybe Cyprus is better for English speaking?
Very interesting and deep introduction into founding a company! Do you have a video about the insurances needed for the company/yourself? I am still living in Germany as a freelancer and I haven't found many references about this in Cyprus. Cheers from Frankfurt and a big thank you!
Hi there! I hope all is well, my friend. I actually have a few questions if you don’t mind. My first question is I have a company in the states already set up as a business/LLC in the US but I’m looking to open a business there in Cyprus. This business will also be a rental company, but ran there on the island. Would it be easier to open up an entire new company/business there or better to register it there on the island and then I would legally be able to open the business under the company? Also, what are the steps for starting the document process from abroad? For example, you mentioned first and address and passport/idea would be needed correct? Where do we go to start this process ? Or is it just in person ?
Hey! The question whether you should close your company and open a new one, or just move it, depends on your individual situation. Both have pro's and con's. I'd prefer to not answer it here publicly, because there are many details to take into account, so feel free to email me about this matter. I can then also introduce you to my accountant, which will assist you with the formation process also remotely.
Of course. You can have as many offshore companies as you want, at any time. The question is just if you have enough free time to work on your business.
@@Diggy77 You do, but the procedure to obtain the residency is different than for EU people. If you are serious about moving to Cyprus, you can contact me via mail, and I can recommend you an expert.
Does anyone have a link to an official list of Management/Agencies that can help you open a company? (I'd like to avoid the dodgy ones...)
Worth mentioning that the cost of setting up and maintaining a business in Cyprus is quite expensive. Around €2000 for setup and €5000 per year for accounting, fees, tax audit, registered office.
I have a whole separate video about this. :)
@@Rico great you should link to it from this video 👌
@@tradewinst Absolutely! Good idea. I added it as End screen now. Thanks :)
Yes great videos but those annual fees seem extremely high especially if your a small business and compared to UK limited costs . Am looking into this but annual costs could mean it’s not viable but we will see
Very useful video and accurate information. I did all the process last year and it is exactly as you describe it. In fact, all your videos give a very precise and reliable info. Congrats and thanks for all your efforts and time in helping others! 👏👏👏
Hey, this is the goal with the channel, very happy that people like it. Thank you so much for the comment!
Hi Castolo, have you come across a list of authrised agent companies,? I want to open a company, but am worried about just googling my way to such a company. Or maybe, if you were happy with the agent that helped you, could you let me know? thanks a lot!!!
@@castolo4790 Awesome! Thanks a lot!! :)
Very informative info as I always enjoy these. Hope to be back in Cyprus this year and hopefully with a biz. Thanks!
I wish you all the best, thanks for the comment.
Would it be possible to live in turkey and have a company in cyprus?
Wieder ein tolles Aufschlussreiches Video!! Sind kommende Woche für ein paar Tage (Mi-Fr) in Paphos um uns ein Mietobjekt zu suchen 😅 Der ganze Papierkram steht jetzt auch bei uns an..
Super, danke für das Feedback und freut mich, dass es nun auch für euch richtig losgeht! Bis bald! :)
Hey Rico, can you do a video on running a crypto company from Cyprus? Specially, how do banks see Crypto, who to bank with, things to watch out for etc? Would really appreciate it.
Hey there! As I'm also into Crypto with one of my companies, I can say that it is very hard in Cyprus at the moment. Banks don't like Crypto transfers, taxation is unclear and accounting is hard. Hope this helps for now! :)
Thanks for a great video again!👌. I will arrive in Cyprus within 2 weeks and your tips are highly appreciated!
Hey Magnus, nice to see you here! Sounds awesome, I'm sure you'll love it here.
Cyprus is my go to destination for business setup personally, to setup my businesses there I worked with Bolster Group, my best partner for all the paperwork, to everyone that want to operate from cyprus, I highly recommand, it's a very nice place to live
Hi Rico, let me know if you are also in the IT industry. I'm looking to make Business deals 🤝 with IT Businesses in the Cyprus region. I have almost all the documents ready.
Can I just check my understanding …do you only need a company for non dom status if you want it stay in Cyprus less than 183 days a year? Ie the min 60 day option thank you
Is there any timebound for share holder to pay subscription money to get share certificate in Limited Company
Great, I'll contact you as Im moving to Cyprus end of august to open my company in Cyprus
Can I create a Cypriot Ltd company then use that to buy uk properties and then only pay Cypriot taxes?
Sir asylum seeker can do business in cyprus
i sent you email about the Agency
Hey man great video, I'm looking to do the same thing to escape the UK hell hole which is pushing up corporation taxes to 25% next year, as well as a whole bunch of other tax increases! I'm torn between Cyprus and Bulgaria (10%), but I think maybe Cyprus is better for English speaking?
Hey, totally understand you. My preference is of course Cyprus, but the decision is yours. :) We also have a lot of UK people here.
Very interesting and deep introduction into founding a company!
Do you have a video about the insurances needed for the company/yourself? I am still living in Germany as a freelancer and I haven't found many references about this in Cyprus.
Cheers from Frankfurt and a big thank you!
Hey, I'm originally from Frankfurt too, haha!😊 You can contact me via my email in the video description, and I'm happy to assist you further.
Hi there! I hope all is well, my friend. I actually have a few questions if you don’t mind.
My first question is I have a company in the states already set up as a business/LLC in the US but I’m looking to open a business there in Cyprus. This business will also be a rental company, but ran there on the island. Would it be easier to open up an entire new company/business there or better to register it there on the island and then I would legally be able to open the business under the company?
Also, what are the steps for starting the document process from abroad? For example, you mentioned first and address and passport/idea would be needed correct? Where do we go to start this process ? Or is it just in person ?
Hey! The question whether you should close your company and open a new one, or just move it, depends on your individual situation. Both have pro's and con's. I'd prefer to not answer it here publicly, because there are many details to take into account, so feel free to email me about this matter. I can then also introduce you to my accountant, which will assist you with the formation process also remotely.
Can I do this as the owner of a company (freelance IT) while still working and living in Belgium?
Of course. You can have as many offshore companies as you want, at any time. The question is just if you have enough free time to work on your business.
Thx man, will be exploring Cyprus soon, your tips are helpful.
Great to hear that!
bro why u didnt tell a rough charges for registering company
I have a whole video about this. "ALL Expenses of a Cyprus Business"
What happens if you just want to be a self employed non-dom in Cyprus?
You wouldn't own a company entity that could pay yourself dividends, and your income would need to be taxed with the progressive personal income tax.
I looking job
Are you providing consulting?
Yes, feel free to check out my website by googling my name Ricardo Gorski.
What if your from the UK..?
Pretty similar process, but some individual points apply. I recommend to reach out via mail to look at your personal situation.
Super helpful because I was thinking to open a business here or a freelance based in Sweden 🤔 where are you based btw?😁
Happu to hear that. I'm based in Paphos, Cyprus.
@@Rico oh really cool. Im based there as well! 😅
@@KevinHilding Love it! See you around then!
@@Rico Yes, definitely!
Do the same rules apply if you are not EU citizen?
For company incorporation, yes, of course. For immigration, not quite the same. But still possible!
@@Rico So you can start a business there, but if you do not immigrate there you dont really get the tax benefits?
@@Diggy77 You do, but the procedure to obtain the residency is different than for EU people. If you are serious about moving to Cyprus, you can contact me via mail, and I can recommend you an expert.
Hi is it possible to send you an email or get in contact with you. Thank you
Hello, yes of course. Email is in the video description. Thank you!