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Moving to Cyprus

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Moving to Cyprus

Postby stevieross7 » 13 Jul 2015 07:42

We are thinking about moving to Cyprus from the UK and I was wondering if anyone can help me. My kids will be going to school and my wife will not be working but they will be staying there most of the year. I work offshore in Africa over 6 months of the year so my time in Cyprus will be around 4 months a year. The question is this, what tax will I be due to Cyprus if I am non-resident in the UK?

Any help will be appreciated
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Re: Moving to Cyprus

Postby MarkN » 13 Jul 2015 13:23

I am not a tax expert! However, I do have a pretty good understanding of the taxation system here and in the UK.
The law here in Cyprus states that if you are resident in the country for 6 months or more, you are taxable on your worldwide income and should obtain a Tax Identification Number (TIC). If as you have said, you will only be in Cyprus for up to 4 months a year, then you would not have a tax liability in Cyprus. The only caveat to that would be income arising within Cyprus, which would be taxable here.

I have sent you a pm.

all the best,
Mark Nowell DipPFS
3D Global Financial Services
Toumazis Linopetra Centre
St Athanasios Street 61
P.O. Box 53720
Limassol 3317
Cyprus
Tel: +357 25828292
Fax: +357 25873460
email: [email protected]
web: http://www.3dglobal.com
MarkN
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Location: Limassol, Cyprus





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