What kind of prices did you get and what kind of cleaning services? For short-term rental or yourself?

If anyone is in Larnaca, I'll be here until April 11. Would love to meet up and grab a coffee or drink.

What line of business are you in?

At Larnaca now, to spend 1/2 month here to keep my residence... Though hope politicians vote not have to anymore!

I am also here right now, two times a year each for a month to keep my residence 😅
@carlos_business do they vote to get rid of it? 😮

I didn't see you in the weekly meeting at Brewery

My accountant said they will decide maximum 31 December this year & Some rich people is leaving Cyprus and they want to avoid

There is a weekly meeting? Didn’t know 😅 am leaving tomorrow but will be back in November and then I can join

More info for the weekly meeting please

hello eveyone!

my name is Beau, im an american living in cyprus. Been here for a couple years now, but just now moved to limmasol. was in paphos before.



i operate some software companies and do a bit of M&A here and there.


looking to make some new friends in limmasol!

That would be very helpful, Thanks a lot!

yes!

I can't. It's banned by the bot

you can't say what time and day it is?

where are you? if there is enough people in limmasol, i'll be down to organize a monthly meetup

I am in Nicosia but willing to come to Limmasol

i don't know any in nicosia. but in IASIS Hospital in paphos is great and private.

i've had people there visit my house on weekends, they are very quick and helpful

Thank you

hey everyone thinking of moving to cyprus more specifically to thalimassol or larnaca and could do with some guidance/thoughts on what the best path forward is

limmasol is a significantly better city, it's not even close. but it depends what you like

I have my appartment in Larnaca and at first it took time to get used to, but now i like it! The sea is very nice, i love to walk around there and it is good for running 🏃🏼‍♀️😅

This is absolutely not true. Been living in Nicosia for the past year. Kids going to an international kindergarden. We have a community around that, mostly expats. Almost everyone speaks English (I mean random people around the city). There are many coworking spaces, gyms, cafes, shops, etc. I haven't met many "nomads" but this doesn't make it less great. And Limassol is just an hour away.

okay, i have not spent that much time in nicosia besides embassy appointments, so i may be wrong about nicosia, sorry

Hey hey! Someone here in Cyprus running a LTD and using GoCardless ?

hey I've lot's of messages in Telegram. Please ypbr or reply my message to get some kind of notification 🙏

Thanks!

Hi there! Am looking for accountant in Cyprus for company and personal purposes. Any recommendations?

I do recommend mine

Hi all, considering becoming a Cyprus non dom but the process seems a bureaucratic nightmare, anyone had good or bad experience that you could share ?

I did it through a company there who are specialized in this and it wasn’t a hassle at all and they are now doing all my bookkeeping and stuff.
But of course more expensive as if you would do it yourself.

Hey Lisa, thank you, can I get their details ? I’m actually also trying to do it through formation agents but the first one I contacted sent me 4 huge forms to fill. It just made me think what’s the point of paying all this money if I still have to do the bulk of the work

Pmg-offshore-company .com

Of course you have to be there at some point during the process until you get the yellow slip and you have to sign some papers in person and go to the immigration office there. But in my opinion it was easy and now i am there my 60days a year in my rented apartment (bc you need a place there) and thats it.

Excellent thanks!

Is anyone doing a US LLC + Non-dom in Cyprus? Any big problems with this or is it generally OK?

I don’t think it makes sense… what are the upsides?

Very cheap to run. Great services for the company like Stripe, banking. Gives you ability to access the US banking system as an individual (when you pay yourself salary from that LLC), then use their credit cards which are way better than the Euro credit cards.

On top, obligation to file tax report only once a year. You can't have a European company as cheap, considering that most countries require you to have a salaried manager who pays social security, file taxes every month, hire an accountant and what not.

And yeah a US LLC owned and operated by a non-resident alien (to the US) pays zero tax.

A US LLC can be run as cheaply as 200 USD per year if you do your own taxes, which is not that hard.

how cyprus authorities stand on path through entites? if they consider an LLC as a separate legal entity (basicaly a company), then it would be subject to PE rule, and cyprus corp tax obligation + any payment from the llc to you in turn would be cyprus «local» income, thus not exempt under non-dome…

If you are talking about a cypriot LLC, I think (but may be wrong) that there is an exception.

no, by LLC I ment US LLC

Why would this be the case for a US LLC? (And also the reason I am asking)

Well, if you are cyprus resident (even if non dom), and you manage and control foreign legal entity/company, then the effective management rule should kick in, and thus effectively making that entity/company a cyprus tax resident.
That is the way tax authorities might see that.

OK, I'll research further but then cyprus might not be the right place for me

I’m doing this right now and after lots of consultations the only way I found is a CY holding company that invoices the LLC resulting in paying the 12.5% tax rate. Otherwise you risk a) CY taxing the LLC income as regular income and those taxes are steep b) LLC forming permanent establishment and paying the 12.5% plus any fines for hiding it

lmao you dont know what you are talking about

Indeed I don't, I am only doing the research so far while using a company in my native Bulgaria. Could you please give the other perspective on the topic?

Just be mindful that a pass through LLC cannot really pay dividends so any profit is kind of automatically distributed to you. So I don’t know how feasible it is to just park the profit in the LLC but that’s a very nuanced area with each country enforcing it differently.

For a SaaS company Cyprus could be great for another reason - there is a special intellectual property scheme where you essentially sell software licenses with super low tax. But for this you will need a paid consultation and case study with a local accountant just to see if you are eligible

Probably easier to figure out in my native Bulgaria where I am still a tax resident

Hi everyone I’m in Ayia Napa today and tomorrow and Larnaca Monday onwards if anyone wants to meet up

Not to forget that an US LLC is a disregarded entity, which means it’s a pass through legal way to get the money straight to your personally, it doesn’t offer corp protection (as like a LTD).

So you’d pay social & health contributions based on what you earn, including income tax. Only exception is if you take advantage of the 90+ days rule for rendered work outside of Cyprus which doesn’t get taxed, but anyway, in order to get the non-dom, you need to show either you’re a director and/or employed here. Therefore you need another real offshore limited in front of your company you’ll make here. (look for Seychelles, HK, Isle of Man etc)

The US LLC works great with a Paraguay fiscal residency, but that’s a different story.

thank you