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Cyprus Tax Haven?

Discussion in 'Cyprus Property' started by anna2, Jan 6, 2008.

  1. anna2

    anna2 New Member

    Does anyone know about the tax side of things in Cyprus? I've heard that its a tax haven in one form or another. Good to hear from anyone on either company or personal taxation in Cyprus.
     
  2. Nigel Howarth

    Nigel Howarth New Member

    As a "retired" person living here, the tax situation is very favourable compared with the UK.

    Retired residents from overseas are taxed on their pensions at the rate of 5% above about € 3,417/annum. Alternatively, you can opt to pay the normal rates where the first € 19,500 is tax free, rising to 30% on € 36,301.

    So if there are two of you living here, each of you can receive an income of € 19,500 before paying tax - that's about £ 29,000 sterling between you.

    PricewaterhouseCoopers publish a very good overview of the tax regime here. The 2008 issues isn't out (yet) but you can find the 2007 on their website. I can't publish the URL, but if you Google "pricewaterhousecoopers cyprus", you'll find it.

    Regards,

    Nigel Howarth
     
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