Hey guys
I have a strange situation (in my opinion) that I wouldnt like so help/advice/information on. I'm not really in tune with the tax site of things in business.
I am looking to getting into a partnership with one other partner in an online based venture. At the minute the way things are, we would just split the money 50/50. We each own everything 50/50.
Obviously now I want to be tax compliant as we are heading towards profiting. My partner does not have to pay tax as he is not a fiscal resident of any country and doesn't claim state befits.
I want to know how I would register for tax as the owner of half a partnership ? We do not have a company.
I was thinking of registering for tax in Cyprus but am unsure how to go about it given my circumstances?
Do I need to set up a company for my half of the partnership or what way does it work?
I have a strange situation (in my opinion) that I wouldnt like so help/advice/information on. I'm not really in tune with the tax site of things in business.
I am looking to getting into a partnership with one other partner in an online based venture. At the minute the way things are, we would just split the money 50/50. We each own everything 50/50.
Obviously now I want to be tax compliant as we are heading towards profiting. My partner does not have to pay tax as he is not a fiscal resident of any country and doesn't claim state befits.
I want to know how I would register for tax as the owner of half a partnership ? We do not have a company.
I was thinking of registering for tax in Cyprus but am unsure how to go about it given my circumstances?
Do I need to set up a company for my half of the partnership or what way does it work?