Eternity Law International News To create an IT-company

To create an IT-company

August 17, 2020

To create IT-company – where is it profitable to do in 2020? Over the past few decades, the IT sector has been developing at a rapid pace, making significant changes in the economic and other spheres of life.

IT corporations, based on the algorithms of typos, communication between social groups, the distribution of photo, video and entertainment content, have already become an integral part of our life.

This also affected business activities as well. Many platforms, for example, Amazon, and others have become some of the largest and most profitable business projects, bringing billions to their owners.

In general, activities in the field of IT will allow its founder to receive much higher profits than, for example, investments in mining, which was popular there in the twentieth century.

Where to register an IT firm: Cyprus

Cyprus has quite favorable conditions. A lot of companies with owners from the CIS countries settled there. Let’s take a closer look at how Cyprus attracts those who have decided to start implementing IT projects.

  1. Cyprus provides newcomers with the opportunity to transport their employees and employ employees with Cypriot citizenship. The spending on essential items and services is much lower here than elsewhere in the EU.

In addition, prospects are opening up for obtaining Cypriot citizenship. This can be done by registering an organization and investing in this business more than 225,000 euros.

  1. Advantages of the taxation system. The tax rate in Cyprus is 12.5%, which is one of the lowest rates within the territory of the European Union. In addition, this rate can also be lowered to 2.5% through the IP Box Regime – special tax incentives for those who develop intellectual property.
  2. Simple and fast procedure for renting office space. Hiring personnel to work in a company is also a simple process that does not take much time and effort.
  3. Banks and capital investment opportunities. Banking institutions there are very loyal to IT firms, so it will not be difficult to open an account for such an enterprise.
  4. Fast preparation of financial statements and professional audit records.
  5. English is available for documentation purposes, which is extremely important for entrepreneurs.

Registration of IT business in Ireland

Ireland is also very attractive for executives who have decided to start their activities in the IT field.

  1. Benefits in the taxation system. If you sell goods or products, the tax rate will be 12.5%, if you provide services, then 25%. However, they are allowed to be reduced thanks to the “IP Box Regime”, the main thing here is to fix all the expenses that were made for the development of intelligent products.
  2. Only those organizations whose assets exceed 6 million euros, and whose annual turnover is more than 12 million, need to submit financial reports and conduct audits.
  3. Unique offers and structures of banking institutions and payment systems.
  4. Ireland is home to global corporations such as Apple, Google and the like, by which one can judge how reliable and respectable this jurisdiction is.

It is also worth noting that Ireland is more expensive in terms of service.

Hong Kong and Singapore

Asia is not only a large-scale market for IT products, but also a place where many experienced and highly qualified specialists work. Singapore and Hong Kong stand out from the countries that are rated as “gold-bearing veins” for IT founders.

  1. Taxation on a territorial basis.
  2. The source of dividends is tax-free.
  3. Special opportunities regarding business immigration to Singapore.
  4. You can use companies that are registered in these regions outside of Asia. This is especially true for those who plan to conduct business activities and partnerships with China.

All countries and regions discussed above are most convenient for the development of projects related to the IT sphere.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

You could be interested

Open a bank account in Poland

Poland is a very perspective country both for traveling and providing services. So we prepared a short guide with the main information for the bank account opening. Required documents The requirements differ to the residents and foreigners. If you have Polish citizenship the procedure is fast and simple. You need to check a bank policy...

What is an EMI – European Payment License?

Developed for the digital era, alternative payment institutions provide innovative access to basic financial services across many sectors. EMIs represent an essential part of the EU’s financial mechanism as they assist natural persons and enterprises in managing their funds. As per the enforceable EU law, all entities dealing with e-funds must acquire an EMI license...

Cryptocurrency Market Inspection

The SEC – The US Securities and Exchange Commission has initiated massive audits of the cryptocurrency business. The Wall Street Journal published this information. The source, who wished to remain anonymous, reported that the commission’s representative sent an official request to many companies active in cryptocurrencies in the United States virtual market. The agenda states...

Electronic Money Institution (EMI) in Bulgaria

EMIs have gained prominence as innovative monetary favor suppliers, especially in the realm of digital remittances. In Bulgaria, EMIs play a vital role in enabling electronic money transmissions, facilitating online transfers, and offering alternative banking solutions. This article explores the concept of EMIs in Bulgaria, their adjustment framework, and the benefits they offer to business-companies...

Pros and Cons of Working with Regulated Vs Unregulated Brokers

Forex-trading is rightly regarded the most extensive world`s financial-market. Its daily-volume of transactions amounts to 6+ trillion US dollars. For merchants, it is an excellent resource that will provide round-the-clock trading and easy access for both beginners and experienced-traders. To get started in this market, a client needs to enlist with online-brokers. Since this determination...

The Polish payment landscape: a modern payments approach

The payment market in Poland features both conventional practices such as cash, which still goes on as one of the most widely used payment options, and innovation. Read on to learn more about the status quo, as well as about innovation and Poland’s future vision. The key features of Poland’s payment landscape Poland is located...
Fill the blank:


Dreikonigstrasse, 31A, Stockerhof


Baseina street, 7


Grosvenor Gardens, 52


1629 K St. Suite 300 N.W.


Gediminas Avenue, 44A


Kesklinna linnaosa, Tuukri 19


Lochrin Square, 1


Jacovides Tower, 5 floor


Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai


Level 42, Suntec Tower Three, 8 Temasek Boulevard


20 Martin Place


2609 Avenida da Boavista


Revaz Tabukashvili Str., N 45, area N 7