So to clarify, me and my family want to move from the UK to Cyprus. My wife has employment in the UK ‘can work remotely’ we could move to Cyprus as she has employment in the UK? And would not be taxed in Cyprus either? I assume she would still have to pay employment tax to the UK? I would look at setting up a real estate business once we land also. Thanks for the great video. Liked, subbed and shared, we will eagerly await your reply 😊
Thanks! :) A few questions: * I've already spent 183 days in my country in 2024. What happens if I go to Cyprus for the rest of the year, which is more than 60 days? Does that mean I'm not a tax resident of Cyprus until January and therefore I don't pay any tax in Cyprus? * Does it matter if I rent or buy an apartment in order to qualify for non-dom? * If sometime in the future I decide to leave Cyprus, how easy is it to stop being a tax resident? Does buying property in Cyprus complicate that? * If my only income is dividends, interest & capital gains in my country, does that mean that I don't have to report anything to Cyprus? Or do I still have to report but just not pay?
Is it possible for me as a daytrader of forex to do this i live the 60 days in Cyprus and then 5 mounth in Sweden as i live in now and pay tax in but instead only pay tax in Cyprus then what tax will i get do i need to pay the 12.5 percent corporate tax or can it be even lower tax ? for the other mounth in the year 5 mounth am thinking about Mallorca is this concept possible ? Thank You
What if you are a US citizen who can't yet renounce? We are tax residents until we can renounce. Is it possible for us to avail ourselves of this program?
In the video, Tijana mentions that if you stay in Belgium for more than 90 days, you are required to register as a resident, which is correct. For tax residency, Belgium does not use the '183-day rule.' Instead, tax residency is based on the date of initial registration in the National Register. You’ll only be considered a tax resident from that day onwards, even if you spend more than 183 days in Belgium that year. Hope this helps clarify!
If you stay in Belgium for more than 90 days, you must register as a resident, which aligns with the regulations. However, the approach to determining tax residence is unique in Belgium. Unlike the '183-day rule' used in many other countries, Belgium requires a certain degree of permanence and refers to the date of initial registration in the National Register to determine tax residency. Therefore, you are considered a tax resident from the day you register, even if you spend more than 183 days in Belgium that year.
Thank you for the comment. The classification of trading income as foreign or local depends on factors like your residency, the source of the income, and local tax laws. Reach out to our specialists for specific guidance through nomadcapitalist.com/apply/.
You can be a tax non-resident US citizen e.g. to take FEIE. If there's a tax treaty between the US and the country you're a tax resident of, that could save you money. Not sure if Cyprus has a tax treaty, but you could look it up. I know some non-dom countries do. You can't do FEIE and take advantage of foreign tax treaties though - you have to pick one or the other
Be careful purchasing property in Cyprus and committing assets there. Israel is using them as an air base and if the regional conflict expands you can expect Turkey to take Cyprus in totality.
@@armyman3666 It will be a strange time indeed when even NATO members oppose each other. ie Turkey and Greece over their partition of Cyprus. Israel using it as a launch point for Air Missions may well be the straw that breaks the Camel's back.
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This is wonderful for digital nomads!
Glad it was helpful.
So to clarify, me and my family want to move from the UK to Cyprus. My wife has employment in the UK ‘can work remotely’ we could move to Cyprus as she has employment in the UK? And would not be taxed in Cyprus either? I assume she would still have to pay employment tax to the UK?
I would look at setting up a real estate business once we land also. Thanks for the great video. Liked, subbed and shared, we will eagerly await your reply 😊
Thanks! :) A few questions:
* I've already spent 183 days in my country in 2024. What happens if I go to Cyprus for the rest of the year, which is more than 60 days? Does that mean I'm not a tax resident of Cyprus until January and therefore I don't pay any tax in Cyprus?
* Does it matter if I rent or buy an apartment in order to qualify for non-dom?
* If sometime in the future I decide to leave Cyprus, how easy is it to stop being a tax resident? Does buying property in Cyprus complicate that?
* If my only income is dividends, interest & capital gains in my country, does that mean that I don't have to report anything to Cyprus? Or do I still have to report but just not pay?
Thank you for your comment! Feel free to reach out, our team will be happy to go through these questions with you: nomadcapitalist.com/apply/
thanks ,very informative
Thanks for watching!
Is it possible for me as a daytrader of forex to do this i live the 60 days in Cyprus and then 5 mounth in Sweden as i live in now and pay tax in but instead only pay tax in Cyprus then what tax will i get do i need to pay the 12.5 percent corporate tax or can it be even lower tax ? for the other mounth in the year 5 mounth am thinking about Mallorca is this concept possible ? Thank You
What if you are a US citizen who can't yet renounce? We are tax residents until we can renounce. Is it possible for us to avail ourselves of this program?
How can a US citizen do this as you are always taxed in the US.
Not sure if what you said about Belgium is correct. Pretty sure that it's also a 183-day rule, and not 90 days.
In the video, Tijana mentions that if you stay in Belgium for more than 90 days, you are required to register as a resident, which is correct. For tax residency, Belgium does not use the '183-day rule.' Instead, tax residency is based on the date of initial registration in the National Register. You’ll only be considered a tax resident from that day onwards, even if you spend more than 183 days in Belgium that year.
Hope this helps clarify!
If you stay in Belgium for more than 90 days, you must register as a resident, which aligns with the regulations. However, the approach to determining tax residence is unique in Belgium. Unlike the '183-day rule' used in many other countries, Belgium requires a certain degree of permanence and refers to the date of initial registration in the National Register to determine tax residency. Therefore, you are considered a tax resident from the day you register, even if you spend more than 183 days in Belgium that year.
great
is trading income foreign or local income
Thank you for the comment. The classification of trading income as foreign or local depends on factors like your residency, the source of the income, and local tax laws. Reach out to our specialists for specific guidance through nomadcapitalist.com/apply/.
Foreign income not taxed? 👀👀👀👀
So this won't work for Americans as they never admit you aren't a tax resident.
You can be a tax non-resident US citizen e.g. to take FEIE. If there's a tax treaty between the US and the country you're a tax resident of, that could save you money. Not sure if Cyprus has a tax treaty, but you could look it up. I know some non-dom countries do.
You can't do FEIE and take advantage of foreign tax treaties though - you have to pick one or the other
Be careful purchasing property in Cyprus and committing assets there. Israel is using them as an air base and if the regional conflict expands you can expect Turkey to take Cyprus in totality.
@@armyman3666 It will be a strange time indeed when even NATO members oppose each other. ie Turkey and Greece over their partition of Cyprus. Israel using it as a launch point for Air Missions may well be the straw that breaks the Camel's back.
Not gonna happen
Ridiculous!
You need to make it clear that you are talking about SOUTH Cyprus.