What taxes does the company pay in Cyprus?
I want to move part of the business to Cyprus, but I got caught up in taxes. It is said that the corporate tax is only 12.5%, but are there hidden fees or mandatory reports? Do I need to become a tax resident immediately if the company is only registered but not active?
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Yes, the corporate tax rate is 12.5%, and it is one of the lowest in the EU. But it is important to properly formalize the company and reporting. https://cyprusregister.com offers a full package with registration, tax number and subsequent accounting. It explains how to optimize taxes legally and when to file a return. If the company is inactive, you can indicate it in the reports to avoid fines. Everything is very transparent and convenient.