Digital services is an all-encompassing term, referring to electronic, telecommunication and broadcast providers of download or stream media, apps, online software, e-learning software, e-books, online journals and dating or similar membership websites.
UK providers of digital services have been impacted by Brexit because you are no longer able to use the Mini One Stop Shop (MOSS) single VAT return with HMRC to report sales to EU consumers. This means that you should apply for a MOSS registration number in any EU member state. At EQ:IQ, this is something that we can do for you.
Benefits Of Establishing A Branch In Cyprus
Creating a branch of your business in Cyprus can help you to access a lot of benefits that you may have previously reaped when the UK were part of the EU. This is because it will allow you to join the EU for VAT purposes, and so you will also benefit from low corporation tax rates and a simple MOSS registration process. Cyprus has a similar common law basis for the recognition of companies and trusts, and the additional benefit of low setup and annual costs for companies. You will also benefit from booming financial and tourism industries.
For further insight to the benefits of establishing a branch in Cyprus, give us a call today
EQ:IQ And The UK Digital Service Sector
We are able to offer administrative and financial solutions that address pain points you are experiencing because of Brexit. This is because we can register and manage your MOSS administration from Cyprus. This will ensure that you continue to provide the same services as before, to all of your consumers, while accounting for all VAT rates in one place. Cyprus, as a member of the EU and EEA, is a popular destination for UK businesses. You can set up here with no risk of your UK company losing its limited liability status following Brexit.