Non Domicile "The Cyprus Special" Tax Category

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3 жыл бұрын

www.cyprusaccountants.com.cy/ Cyprus "Non Dom" Status in 60 Days!!! Cyprus's Wildest Tax Card!!!
In its effort, which is proving to be very successful, to attract Ultra Net Worth Individuals Cyprus has introduced the Special Cyprus Tax Status Called the "Non Dom Status" where anyone can be Considered a Cyprus Non Domiciled Tax Resident enjoying therefore the following Tax Benefits:
Worldwide Tax Free Dividends
Worldwide Tax Free Passive Income
Tax Free Disposal of Securities are
Employment in Cyprus - Significant Salary Tax Reduction
("First Employment in the Republic" rules)
Employment Outside Cyprus - Tax Free Income
And Many More...
The Most Attractive Tax Benefit of all is the Tax Free Dividend Income on the World Wide Income!!!!
This implies that Ultra / High Net Worth Individuals receiving Hundreds or Millions of Dividends from various jurisdictions will be Tax Free in Cyprus under this special scheme.
Watch the video to learn more!!!

Пікірлер: 32

@jegarto 2 жыл бұрын

Great content, could you explain again the concepto on 1 day in the republic that you mentioned at the end of the video

@cyause 2 жыл бұрын

1 day in and out in Cyprus counts as 1 day for the 60 days. Day of departure during stay does not count, only day of arrival counts!

@cyause Жыл бұрын

One day in Cyprus and the same day away (you arrive and depart on the same day) is considered (counts) as 1 day in Cyprus.

@appleb305 Жыл бұрын

Thank you for this nice video! Could you tell me if I have to pay capital gains tax as a non domicile if I incur these profits outside of Cyprus?

@cyause Жыл бұрын

Capital Gains Tax affect immovable property in Cyprus and is not relevant to Non Domicile. If you sell property in Cyprus it will be subject to Capital Gains Tax of 20% on adjusted taxable profit!

@christophecoat1914 7 ай бұрын

Does royalties fall into the category "Worldwide Tax Free Passive Income"? And also in those two cases does one need to set up a company if it's his only mean of income or is it possible to pay directly the social contributions on those royalties/passive income?

@raffaelloschirinzi2072 2 жыл бұрын

Interesting video. It's a pity that the sound is not better...

@cyause 2 жыл бұрын

Ηi Rafaello, We are in the process of editing our old videos, but if you need any further clarification for the non dom we have a lot of info in our website or just simply drop your question here and I will be more than happy to answer it.

@cyause Жыл бұрын

We have improved the newest videos!!!

@ChicoValenciaTv 10 ай бұрын

Great video. I want to set up a company, but If I only intent to live in Cyprus the required 60 days a year, can I only pay rent during my stay? Or do I have to be paying rent even when I’m not in the country?

@roger-zg3uf 5 ай бұрын

I have the same question. Do you have to have a 12 month rental agreement or buy a property? Seems onerous if only resident in Cyprus for 6 or 7 months.

@ignoreme1141 2 ай бұрын

@@roger-zg3uf yes full year

@VeinsDeLAlfaz Ай бұрын

Look at article 4 of the treaty of double taxation between cyprus and your country. In case of Spain one needs to have a home at permanent disposal in Cyprus and can’t have a house at permanent disposal in Spain.

@2ndTim3_1-6 Жыл бұрын

With the company, is there a minimum amount it needs to earn or turnover ? per year or per month ?

@cyause Жыл бұрын

@p.c.h.6721 Жыл бұрын

Hi, here is my question. If I become a resident of Cyprus, and I invest in financial assets in the USA, When I invest in stocks, ETFs, the capital gains are tax free, but my question is about the dividends that I get from U.S. Companies, as you know the U.S. applies withholdings to dividends and depending on the double tax treaty it can be 30%, or 15%, or 10%.... Do you know what’s the withholding rate for people residing in Cyprus on dividends from U.S. companies? Thanks 🙏

@cyause Жыл бұрын

Hello, whatever happens overseas - ie deductions of dividend taxes at source (USA) unfortunately you can not claim such taxes back irrespective of whether you are Cyprus Tax Resident or Not. However no additional taxes will occur in Cyprus if you are a non dom and even if you are not a non dom Cyprus dividend taxes are usually much lower than overseas taxes hence you will not be taxed twice. This is also strengthened by the plethora of double tax treaties Cyprus has with so many countries which ensures that shareholders and business men are not taxed twice on same income streams. I hope this helps

@p.c.h.6721 Жыл бұрын

@@cyause Thank you 🙏 I’m an investor, so I’m looking to become a resident of a country where there are no capital gains taxes, i.e. Dubai, Cyprus, Panama, but it would also be nice if I could avoid the withholding on dividends that the U.S. applies to dividends coming from U.S. companies, I believe the U.S. sets a withholding rate of 15% for Cyprus residents based on their double tax treaty, which is not too bad but it’s not perfect. I will carry on doing more research, I know for example Canadians can avoid that withholding from U.S. dividends, which is also 15% by having their investments in an RRSP account, which is retirement account where you don’t pay any withholdings on your investments until the day you retire, by that time your tax rate is much, much lower than 15%, but this is a particular retirement account for Canadian, I’m not Canadian. Anyway, thanks again!

@cyause Жыл бұрын

@@p.c.h.6721 excellent; i believe this USA tax as you ve mentioned can not be lifted outright unless special arrangements exist with overseas countries like the ones you mentioned. I believe Cyprus Dubai etc do not have such arrangements; are more likely to be found in the Americas regions.

@p.c.h.6721 Жыл бұрын

@@cyause Yes, I think you are correct, Dubai is even worse I believe, the U.S. withholds 30% for those residents of Dubai receiving dividends from U.S. companies. It’s a shame, you can make easily 10%-12% annually investing on Fixed income U.S. ETFs, but that withholding hurts a lot. The are only a handful of countries that thanks to their tax treaties with the U.S. have been able to reduce the withholding to 10% i.e. Japan, Mexico, China, Russia, Romania, Bulgaria. Have a great weekend

@moneyobsessed Жыл бұрын

hi, can one set up an offshore company and get hired from it in cyprus? living here less than 183 days and moving around the rest of the time. will i trigger Permanent Establishment there?

@cyause Жыл бұрын

It is common and it is called registration of overseas employers: an overseas company gets license to recruit staff in Cyprus and this does not cost a permanent establishment

@BullRunMentor Жыл бұрын

What about non resident and non domiclie for holding company?

@cyause Жыл бұрын

Same applies, no dividend tax only corporation tax

@BullRunMentor Жыл бұрын

@@cyause Lovely I'm ready to roll on that for 2023 as Resident in Thailand

@cyause Жыл бұрын

@@BullRunMentor if you need help kt@cyprusaccountants.com.cy

@toke182 2 жыл бұрын

if you are 183 days in cyprus you don't need to open a company, right? You just need the non dom status.

@cyause 2 жыл бұрын

Hi, to get the non dom you need to show that you contact business from Cyprus and a popular way to do that is via a company. You can also do it as a sole trader it all depends on the industry you are in