CyprusLiving

I just wondered if anyone who is resident in Cyprus has purchased Premium Bonds from the UK in the past two years. My husband is registered in Cyprus for tax and I do not pay tax and we are thinking of buying some. Does Cyprus have any objection (see text highlighted in red)?

This is the information I have received from the UK

Overseas residents can hold and purchase Premium Bonds if local regulations permit, though the use of the website application is not permitted as many countries prohibit the promotion of lotteries over the nternet.

The only country where you may not buy/hold Premium Bonds is the USA.

Payment must be made by cheque in Sterling drawn on a UK clearing bank accompanied by the relevant application form and evidence of identity documentation.

We can't make electronic checks outside the UK so you need to send us a certified copy of certain documents for all persons named on the application who live outside the UK.

These documents are:

- Their current passport or official identity card; and

- A letter or notification from their local tax authority, which must be dated within the last three months and include their name and current address

As you are a European Union resident, you also need to include the following details for each person:

- Tax identification number (TIN)

- Date and place of birth (town and country)

Thank you

Amber

Not in the last 2 years no, but about 8 yrs ago there were no problems.

You should also note that they are only free of UK tax. Any winnings will be subject to Cyprus taxation, presumably under the "worldwide income" section.

O2B

Thank you for your replies - rather than having a small lump sum just sitting in the bank doing nothing, I may just get lucky with a Premium Bond Prize!