The Doctor wrote:Hi Mark,
We are thinking of cashing in a Capital growth bond we have had with the Prudential for 13 years. We have been permanent residents in Cyprus since 2003. Would there be CGT, or any other tax, on the profit? We are planning to be out of Cyprus (family visits) in 2017 for more than 186 days next year. Would it make a difference if we delayed the transaction until 2017.
Thanks
The Doctor.
From your description it would appear that there would be no tax liability. CGT in Cyprus only applies to immoveable property. Income tax would not apply as you are receiving a return of capital and a capital gain, not income.
To be more specific I'd need to see the details, but my initial thought is that you would not have a liability here in Cyprus. If you would like to discuss further, please send me a pm.
all the best