Three European Countries With Non-Dom Tax Regimes
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Making money is not an easy job. We work hard, and we can potentially create enormous wealth. However, there is a bitter pill: we must pay a ton in taxes on everything we earn with our sweat and effort. Can you not avoid it...or can you?
In this video, Jelena, our Strategy Manager, discusses three European countries with Non-Dom tax regimes.
00:00 Start
1:00 What is a non-dom?
1:55 Moving to Malta
5:07 Moving to Ireland
8:55 Moving to Cyprus
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
@rubensnogueira5838 Жыл бұрын
Nice info. I always saw Cyprus as a sub-optimal tax solution but now I see it has some interesting perks.
@nomadcapitalist Жыл бұрын
Glad it was helpful.
@yts4106 Жыл бұрын
I heard crypto gains are taxed 35% in Cyprus even for non-doms. Still true? How is this in Malta and Ireland?
@timtravelnomad Жыл бұрын
Fyi - dividends are not actually tax free in Cyprus for non-doms. That's a slight innacuracy in the video. There's a 1.65% tax on dividends for the first €180k as a co tribution to the gesy national healthcare system.
@MLK_Sold_Black_america_out Жыл бұрын
What if you have businesses in say Ireland, Italy and Georgia and you visit each and have a home in each. Would you be considered domiciled in each? Or just where you spend the most time in
@ericeverson5956 Жыл бұрын
Excellent video!!!
@nomadcapitalist Жыл бұрын
Glad you liked it.
@RichFreedomDragon Жыл бұрын
As a world traveling CEO, I am always looking to go where I am treated best. In this video, Malta Ireland Cyprus
@wojak8297 Жыл бұрын
are these rules also applicable to corporations?
@joamiraclesound9387 Жыл бұрын
To be exempt, you must live there 183 days minimum
@peakyblinder9194 Жыл бұрын
When talking about Malta u say that the annually tax payment is 5000 euro a year as a non-dom. I suppose when u talk about people granted the residence program like TRP or GRP they don't pay tax on profits made outside Malta and transferd to a bank account outside Malta. With these residence programs u pay 15.000 euro's tax annually, not 5000.....
@WhoCares..808 Жыл бұрын
What about N. Cyprus - the Turkish side?
@HotelEuropaBasak Жыл бұрын
Good day
@sheba8433 Жыл бұрын
Do you have a video on the taxes living in Mexico ?
@stevec7272 Жыл бұрын
google
@jeremyleonbarlow 8 ай бұрын
The top tax rate kicks in earlier than the US, but it is 2% less than the top US rate. The corporate rate is 9% higher than the US federal rate and under Mexican law, a US corporation would be considered a tax haven domiciled corporation unless it had a state income tax, and then deductions might mean it's subject to CFC rules in Mexico still meaning you owe more tax in Mexico on corporate profits.
@edmaximum 3 ай бұрын
Are non dom residents in Ireland able to apply for naturalization after 5 years and become Irish citizens?
@Er0t0maniac 2 ай бұрын
interested in this question as well
@antoniobrasse7157 Жыл бұрын
For Ireland, how are they even going to track that you used your foreign credit or debit card on a purchase. Ireland gets a lot of visitors and the amount of cards that get swiped must be insane. You can't really just do a name match alone, you need other unique identifying information to match properly to track this stuff. .... this non dom stuff doesn't make sense to me, why not just stay in a visa status? As an American citizen, its pretty easy to move back and forth between the US and Europe.
@mcasey1076 Жыл бұрын
If you rent a house in Ireland your details are registered with the government. Trust me I’m Irish born and breed, left 12 years ago, went back last year intending on staying but left within 9 months. My wife is no domicile and it was still a nightmare. We got fleeced with taxes. It is a complete shit hole to live and work in you’ll loose a fortune. Just use it for a holiday and forget it.
@FrenktheExpat Жыл бұрын
@@mcasey1076 I agree, i have shown in my channel the cost of living in Ireland to keep track of the high inflation and companies making huge profits which cause misery to ordinary people.
@jeremyleonbarlow 8 ай бұрын
The Common Reporting Standard requires banks in nearly every country to report information to tax authorities in countries where you reside. The same way FATCA requires banks around the world to report all accounts and transactions of US citizens to the IRS. If you want to use SWIFT you comply with the rules of CRS and FATCA or your banks end up on the FAFT watchlist and your countries banks end up on the blacklist. Same holds true if you don't comply with KYC rules about properly identifying who owns and controls accounts in your banks.