Cyprus Nominee Director Services
Cyprus Nominee Director Services: Is a Nominee Director Necessary? How do I get Cyprus Nominee Director Services? What is the Cost?
Our Firm can offer you at reasonable cost a Nominee Director for your company. He can be either a physical person or a legal entity. Cyprus Nominee Director Services are a must for you to be able to optimize your taxes effectively. So read below the information to see why.
At the time of a Cyprus Company Registration, you must decide whether to ask Cyprus Nominee Director Services or not. He can be appointed later of course but the best time to decide is the time of registration of a Cyprus company. The appointment of a Nominee Director is crucial as it relates directly to whether your company will be Tax Resident in Cyprus or not.
By Tax Residency, we mean whether your company will be paying corporate tax and in Cyprus or not. And whether it will therefore benefit from the very low Cyprus Corporate Tax Rate in Cyprus which is only 12.5% and zero tax on dividends, plus all those other tax, legal and administration advantages already described in our previous articles.
Tax Residency for a Cyprus Company
Registration of your company in Cyprus, does not automatically make it Tax Resident in Cyprus! For a company to be Tax Resident in Cyprus the ‘management and control’ of the company must be exercised in Cyprus.
By ‘management and control’ we mean that the Directors must prove that they make all meetings and take all decisions of the Board of Directors in Cyprus. So usually a local Nominee Director can be appointed who is permanently living in Cyprus to cover for you this crucial legal requirement!
If the company is not a Cyprus Tax Resident company, that means that it will not qualify to pay taxes in Cyprus. Tax in Cyprus is only 12.5%. The company will then have to pay taxes in the country of residency of the Real Owner or in a country in which it carries out its trading. Of course the taxes may be much higher and you will lose this great tax benefit!
Also many big international Banks and other serious corporations like Google, Alibaba, E Bay or Amazon but also private companies in the EU and even outside, may ask you for a Tax Residency Certificate before they accept any cooperation with your company. Such certificate will not be issued by the Cyprus Tax Office, if your company is not qualified as Tax Resident in Cyprus.
How Can a Nominee Director Be Appointed by Your Firm?
Just ask us that you need to appoint a Nominee Director. We will send you a Cyprus Nominee Director Services agreement to review for the terms and conditions and agree with the fee. If all is agreeable to you, when your company is being registered we will appoint a Nominee Director in the company. The Nominee Director by signing the agreement agrees that he is only a Director for formal reasons and that he will not do anything until you give him any directions in writing. The Nominee Director can sign is requested by you a Resignation Letter and deliver it to you. You can at any time insert the date and file with the Registrar of Companies. After that you can appoint another Director.
Cyprus Nominee Director Services: Can I Appoint My Own Nominee Director?
Most certainly yes. If you have a person of your own living permanently in Cyprus and he is of age, he qualifies to be appointed as a Nominee Director on your behalf. Such person can also sign the Nominee Director Agreement for your security. Of course you can appoint any person out of Cyprus too, but your company will not qualify as Tax Resident in Cyprus.
Confidentiality Benefit of Appointing a Nominee Director.
The records of the Registrar of Companies in Cyprus are available for inspection by anyone interested by paying a fee. So anyone from all over the world can go on the Registrar`s site and in a few minutes see who the Director of the Company is. By appointing a Nominee Director the visitor will see only the name of the Nominee Director and not yours. So by this method you secure for yourself full confidentiality if you need it.
For more information please call or email us freely.