This is so helpful, thinking of doing this myself! Thanks!
@Rico
2 жыл бұрын
Happy to hear that, good luck!
@lifemuchmore
2 жыл бұрын
Great content, as always 👌👌👌
@Rico
2 жыл бұрын
Thanks guys! =)
@Sx-xy2zi
2 жыл бұрын
Love this channel :) also deep microphone :)
@Rico
2 жыл бұрын
Hey, thanks for the comment! And yeah, I'm trying out a lot to improve the quality. :)
@chrisjungle2535
2 жыл бұрын
Love this channel ❤️ thank you for providing all that structured content. From the 1. Video i saw up until now always great content. 🙏 and a really calming voice 🎵🎤🎧
@Rico
2 жыл бұрын
Thank you for the support!!!🙏❤
@lioning3442
Жыл бұрын
Thanks, valuable Information
@natasaxenophontos1478
2 жыл бұрын
Thanks for the great tips - keep it up!
@Rico
2 жыл бұрын
Thank you for the comment! Will do :)
@castolo4790
2 жыл бұрын
You rule, Rico! Very accurate info!
@Rico
2 жыл бұрын
Thanks a lot, trying my best!
@FatmanVALORANT
2 жыл бұрын
Thanks Ricardo as always!
@Rico
2 жыл бұрын
You're welcome, thanks for the comment!
@peaceglory9773
2 жыл бұрын
Very useful info... Thank you!
@Rico
2 жыл бұрын
Happy to hear that, you're welcome!
@peaceglory9773
2 жыл бұрын
@@Rico watching from 🇪🇹, Many thanks again!
@alinazar7998
9 ай бұрын
Great content! a question, im i required to have a local bank if i open a company in Cyprus? or can fintech's be good enough, i have been looking into options like Finom, OneMoneyWay which offers business bank accounts. Would these be enough? Secondly if someone does not stay in cyprus, just wants to have a company there but not live there, is it possible?
@rubiojavier
Жыл бұрын
Very good, thanks for sharing
@Rico
Жыл бұрын
You are welcome!
@morc4904
2 жыл бұрын
Thank you Rico, super helpful info! Which advisor/accountant would you recommend? Any contacts? 👀
@Rico
2 жыл бұрын
Feel free to email me to cyprus@ricardogorski.com with your questions/plans, and I'll recommend you the best possible options.
@TheNalimo
Жыл бұрын
Hi mOr C, did you go ahead and create a company? Who did you use? Did you maybe come across a list of officially authorised agent companies to avoid being scammed? Thanks!
@raffaelloschirinzi2072
2 жыл бұрын
Very interesting video. Tx
@Rico
2 жыл бұрын
Happy to hear that. Thanks for the comment!
@videofrat3115
3 ай бұрын
Can someone summarize what is the total yearly cost without having to watch the whole video? :)
@OlafLindgreen
5 ай бұрын
Thanks Rico, great information. Can you recommend somebody to help me setup a company and to handle everything related to registration when I move to Cyprus. I would look to bundle it, as you suggest.
@marcelkukula05
Жыл бұрын
Deine Videos zwingen mich fast nach Zypern zu ziehen bald ist es so weit 😊 Wie meldet man sich in Deutschland komplett ab ?
@Rico
Жыл бұрын
Super, das ist das Ziel der Videos. Einfach beim Einwohnermeldeamt bescheid geben. :)
@apbarraza2
2 жыл бұрын
Great video as always Rico! I was wondering what your opinion is of Cyprus banks and if it is hard to open a business bank account? Maybe a video on Cyprus banks, their fees and things to be careful of would be informative.
@Rico
2 жыл бұрын
Hey Andrea, thank you for your nice comment. Really appreciate it and good idea! CY bank accounts are not very easy to open because they do a very hard due diligence and don't accept every business. Also, they are expensive. Something around 50€ per month. And the opening takes some weeks, with waiting for your appointment. But, in some cases you really need a local CY IBAN, and in this case there is no way around. However, if possible, I recommend to work with Fintechs.
@lillplill
Жыл бұрын
Thanks so the info! I have a question about the NHS contribution. You mentioned on every dividend that’s to be paid out through the company, there’s a 2.65% tax charged. But is this tax on this dividend what the company owner pays themselves/shareholders listed and if so, does that mean it’s better to pay yourself as a shareholder in the company than an employee? If that’s the case as the owner/employee, it seems better to “pay yourself” a higher dividend than salary though the company yes ? As not only is the NHS contribution to the dividend only 2.65% compared to 26% in social insurance. I’m sorry correct me if I’m wrong but it’s how I understand it
@Rico
Жыл бұрын
Hey, even if you are the company owner, you are also an employee at the same time. So you also receive a salary every month and you pay yourself dividends, whenever you want. And yes, correct. I recommend having the salary low and higher dividends. If you stay within less than 19.500€ yearly salary income, you will not pay income tax, only the social security. And all dividends 2.65% only, up until 180.000€.
@lillplill
Жыл бұрын
Hey! OK wow that really makes sense, thank you so much! And then what after the €18,000 in dividends? After that what is the rate of the social Security?
@Rico
Жыл бұрын
@@lillplill You are welcome. You mean 180.000€? After that amount, no further GESY is charged, so the maximum you will pay is 4.770€.
@olugboyegaibidapo-obe
3 ай бұрын
How do you register a non profit organization like an NGO
@arashsatterman9917
Жыл бұрын
You are awsome! Thank you for the great help. Am going to open a company soon so I need some good local company that could help to start up my business. Cost? 3000-4000 euro? Do you have som rekommendationen? My core business is buy sell properties and buy and sell stocks. No need for employess only my self. Limeted or offshore/Holding?
@Rico
Жыл бұрын
Hi, thanks for the comment. You're welcome! Yes, the costs should be correct, and what kind of structure you need also depends on your future plans and how you execute your deals. You can contact me through my website in the description.
@bradgrasl3483
2 жыл бұрын
Great video, as always! Is it only possible to get non-Dom status via starting a company?
@bradgrasl3483
2 жыл бұрын
I.e. if someone came to Cyprus, as an EU citizen, to simply live off their wealth, not run a company, can they still get non-dom status?
@Rico
2 жыл бұрын
@@bradgrasl3483 There is also the option to register as a high net worth individual in Cyprus and get the Non-Dom. You can get more details from a consultant, as this can get very individual.
@bradgrasl3483
2 жыл бұрын
@@Rico fantastic, thank you Ricardo!
@skerritv3455
2 жыл бұрын
a table or some math in the video would help a lot to easily understand all costs
@Rico
2 жыл бұрын
I thought about this as well, but as the numbers can be very individual, I decided against it and just give rough numbers and make you aware of all upcoming costs.
@luikohl
2 жыл бұрын
Hey rico, based on your numbers one off: establish ltd: 2000 + ubo: 150 = 2150 monthly social: 26% yearly district fee: 300 tax audit: 1400 corporate tax: 12,5 on profits 1700+12,5% bookkeeping * 4: 1600 = 3300+12,5% on profits adhoc NHS contribution: 2,65% for dividend (180k cap) Would these numbers also be roughly accurate if you have a forex or crypto trading company? Is this correct only for those with non dom?
@Rico
2 жыл бұрын
Hey! That's a good summary. And yes, those number apply to all Cyprus Ltd. companies, however, in some cases it makes more sense to trade as a person instead of a company because then you don't need to pay the corporate tax. And yes, with a Nondom status, all the numbers apply to you and your company. However, some number also apply without Nondom, such as the Corporate tax, which also applies to locals.
@nacho2998
2 жыл бұрын
can you open a company in cyprus without living there? or you've to live there and do the 60+ days & not live 6+ months in another country thing? Thank you for your time and your videos! really appreciate them!
@Rico
2 жыл бұрын
You can open a company here from anywhere, if it's just about having the company with our Corp Tax level. The 60 day in CY & not more than 180 somewhere else rule is solely for your Non-Dom status, which exempts you from dividend tax for 17 years. This has nothing to do with the company incorporation per se. Hope it makes sense, let me know if you need something else! :)
@nacho2998
2 жыл бұрын
@@Rico Thank you for your patience & your kind reply!
@Rico
2 жыл бұрын
@@nacho2998 You're welcome, always happy to help. :)
@sej2972
2 жыл бұрын
Hi Rico, why you don't pay yourself only with dividends to avoid salary tax?
@Rico
2 жыл бұрын
Hey there! Personal income of up to 19.500€ is exempt of the income tax. Plus, you need to pay a salary to at least one director of the company, to prove substance in Cyprus.
@sej2972
2 жыл бұрын
@@Rico I see, thanks!
@valuetraveler2026
Жыл бұрын
social insurance thats a BIG downside
@ChristianGrey666
2 жыл бұрын
Can you recommend a legit company that offers the services you spoke on your video? I plan to move to Cyprus as a contractor so I will need to speak with a company that would assist in setting up the company, accounting and administration services for me. Much appreciate for your great video!
@Rico
2 жыл бұрын
Hey there! Yes of course, feel free to watch my latest video about opening a company in CY and in the video description there you can find my email. Have a nice weekend!
@TheNalimo
Жыл бұрын
Hi Kariolis, did you go ahead and create a company? Were you happy with those who helped you and can you recommend them? Thanks a lot in advance.
@HardIsEasy
2 жыл бұрын
Your mic is slightly to close to your mouth - Your Welcome ;)
@Rico
2 жыл бұрын
Thanks for the feedback! Yup, giving my best to improve my overall video quality. :)
@HardIsEasy
2 жыл бұрын
@@Rico I see that ;) We all go through similar mistakes in life. If you put the mic to close you will record nasal sounds like breaths and saliva and other stuff that's not necessary. (It also depends on the mic position). In your case just pull it a TINY bit away and it will be perfect. Also more comfort for you ;)
@Rico
2 жыл бұрын
@@HardIsEasy Thanks, appreciate the tip! Good luck to you and your move to Cyprus.
@enyosam
Жыл бұрын
Where can one purchase the bundle for registration as someone who wishes to migrate to Cyprus?
@Rico
Жыл бұрын
Well, at many different agencies that are helping foreigners to do so.
@enyosam
Жыл бұрын
@@Rico Any idea of which agency? Because this information is very limited to find online
@Rico
Жыл бұрын
@@enyosam You can reach out to me and I can give you a recommendation. Mail is in the video description. :)
@enyosam
Жыл бұрын
@@Rico alright.
@enyosam
Жыл бұрын
Well, no email in your video description. Do you mean DM on IG?
@andreasleirich9640
2 жыл бұрын
Can I open a company in Cyprus without being resident?
@Rico
2 жыл бұрын
Yes, but in order to run the company safely and proof substance, you need a local director. You could also use a nominee service for that. Also, for the dividends payout, you'd need to check in your local country how it's handled.
@andreasleirich9640
2 жыл бұрын
@@Rico Thanks a lot! I am currently gathering information about Estonia, Andorra, Malta, Portugal or Cyprus as possible tax haven. A bit complicated :) currently living in Spain. Thank you for video! Helped me to understand more about Cyprus Set Up. Will prob go with Estonia / Portugal set up.. Estonia corp tax 0% and Portugal doesnt tax foreign capital. lets see :)
@Rico
2 жыл бұрын
@@andreasleirich9640 All interesting options, make sure they are bulletproof for the longterm. All the best!
@takemnelson7093
2 жыл бұрын
Please sir I need your help
@adrianTNT
2 жыл бұрын
So Cyprus as a finance paradise is an old myth ? :)
@Rico
2 жыл бұрын
Hey! I'm not sure what exactly you mean. There are some great benefits, but for the services and setup it costs some money, of course. :)
@adelinetrusard69
2 жыл бұрын
Lack description in all, appear as you want to sell your Company registration services without giving any tangible idea of REAL costs....it's a huge bla bla bla of it depends and of it depends...why you do not explain to your youtubers that in Cyprus an accountant is payed locally 400/500 Euros a month for provide its services to 10 or more different lawyers.....this mean that the real cost it's around 40€ monthly per Lawyer....if you want I can give you many REAL CONTACTS and not virtuals bla bla bla...and then why you do not explain that CYPRUS in general is a commission country for all...including bank accountsm, sold by local lawyers as very huge corporate services when instead all these steps are not necessary and mandatory, everyone can open a bank account with a company presence or with a legal domicile (as it is very well described in a Eu Law by which Cyprus is one of its member)....
@Rico
2 жыл бұрын
The video describes all real costs. I'm not selling anything. Thanks for your comment, have a nice day. 🙂
@tradewinst
Жыл бұрын
I would be interested in your contacts. 40€ sounds way more reasonable. How can I reach you?
@Fucky900
Жыл бұрын
Hey Rico, where are you located? I also relocated, would be great to meet up
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