In the modern era of Artificial Intelligence and the rapid evolution of information systems, with all the changes brought by the COVID period in our lives, an increasing number of employees in companies abroad wish (with the consent of their employers), to establish a Cypriot Company (LTD) and continue working on their behalf, as external, remote collaborators.
In order for this to happen, these foreign companies require the establishment of a Cypriot company in order to enter into contracts with their former employees (now contractors), their external collaborators.
By an overwhelming majority, they accept that the annual contract with the new Cypriot company equals the gross cost, including various expenses they had as employers of a salaried worker: insurance contributions, various in-kind benefits, taxes on wages, etc.
Therefore, the final annual contract amount exceeds that of the net annual salary.
Therefore, the trend of self-employment with a Cypriot company continues to rise and appears to persist, given that technology allows, especially for service providers, to offer their services remotely from anywhere in the world.
Furthermore, importantTax Incentives The Ministry of Finance of Cyprus offerscompletely legally) the opportunity to enjoy 87.5% of their income (!) as taxation is consistently 12.5% in Cyprus as well as in Greece, in case of repatriation of Dividends (cash out) with a Tax Certificate issued by the Ministry. Ministry of Finance in Cyprus and deposited with the competent Tax Office for the audit of the Greek Tax Declaration (Ε1), utilizing the Double Taxation Avoidance according to the applicable Tax Law.
The company EPIDOSIS – Expand Your Business undertakes daily the Establishment and Maintenance of accounting for various businesses, covering a range of specialties such as
Developers, Sales, HR,
You can send us a message on the Contact FormFormor you can call at our offices in Athens 2106810690 or in Thessaloniki 2310477725 to analyse all the above.
