How to Lower Your Taxes in Cyprus

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In this video, we discuss the special tax regime in Cyprus, an increasingly popular destination for those looking to optimize their tax situations. With Cyprus discontinuing its citizenship by investment program, now is the perfect time to explore the advantages of its special tax regime for non-domiciled individuals.
00:00 Start
00:31 Benefits of Cyprus Tax Regime
2:25 Taxation for Non-Domiciled Individuals
3:21 Taxation for Non-Domiciled Individuals
4:22 Renewal and Proof of Tax Residency
5:43 Tax Benefits for Retirees
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Опубликовано:

4 авг 2024

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Комментарии : 17

@bireshwarmitra2089 Месяц назад

thanks ,very informative

@NomadCapitalistRD 28 дней назад

Thanks for watching!

@eranb66 Месяц назад

Thanks! :) A few questions: * I've already spent 183 days in my country in 2024. What happens if I go to Cyprus for the rest of the year, which is more than 60 days? Does that mean I'm not a tax resident of Cyprus until January and therefore I don't pay any tax in Cyprus? * Does it matter if I rent or buy an apartment in order to qualify for non-dom? * If sometime in the future I decide to leave Cyprus, how easy is it to stop being a tax resident? Does buying property in Cyprus complicate that? * If my only income is dividends, interest & capital gains in my country, does that mean that I don't have to report anything to Cyprus? Or do I still have to report but just not pay?

@billhennessey6374 Месяц назад

What if you are a US citizen who can't yet renounce? We are tax residents until we can renounce. Is it possible for us to avail ourselves of this program?

@michalblaskovic293 Месяц назад

great

@benjaminsamaey 6 дней назад

Not sure if what you said about Belgium is correct. Pretty sure that it's also a 183-day rule, and not 90 days.

@NomadCapitalistRD 4 дня назад

In the video, Tijana mentions that if you stay in Belgium for more than 90 days, you are required to register as a resident, which is correct. For tax residency, Belgium does not use the '183-day rule.' Instead, tax residency is based on the date of initial registration in the National Register. You’ll only be considered a tax resident from that day onwards, even if you spend more than 183 days in Belgium that year. Hope this helps clarify!

@NomadCapitalistRD 4 дня назад

If you stay in Belgium for more than 90 days, you must register as a resident, which aligns with the regulations. However, the approach to determining tax residence is unique in Belgium. Unlike the '183-day rule' used in many other countries, Belgium requires a certain degree of permanence and refers to the date of initial registration in the National Register to determine tax residency. Therefore, you are considered a tax resident from the day you register, even if you spend more than 183 days in Belgium that year.

@VeinsDeLAlfaz Месяц назад

Foreign income not taxed? 👀👀👀👀

@zelareka Месяц назад

is trading income foreign or local income

@NomadCapitalistRD 27 дней назад

Thank you for the comment. The classification of trading income as foreign or local depends on factors like your residency, the source of the income, and local tax laws. Reach out to our specialists for specific guidance through nomadcapitalist.com/apply/.

@blktauna Месяц назад

So this won't work for Americans as they never admit you aren't a tax resident.

@borisjoffe Месяц назад

You can be a tax non-resident US citizen e.g. to take FEIE. If there's a tax treaty between the US and the country you're a tax resident of, that could save you money. Not sure if Cyprus has a tax treaty, but you could look it up. I know some non-dom countries do. You can't do FEIE and take advantage of foreign tax treaties though - you have to pick one or the other

@markmielke5283 Месяц назад

Be careful purchasing property in Cyprus and committing assets there. Israel is using them as an air base and if the regional conflict expands you can expect Turkey to take Cyprus in totality.

@armyman3666 Месяц назад

Lol Cyprus is an EU member

@markmielke5283 Месяц назад

@@armyman3666 It will be a strange time indeed when even NATO members oppose each other. ie Turkey and Greece over their partition of Cyprus. Israel using it as a launch point for Air Missions may well be the straw that breaks the Camel's back.