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Why Cyprus is the Perfect Place to Relocate or Become a Tax Resident
Why Cyprus is the Perfect Place to Relocate or Become a Tax Resident As taxes increase in countries like the UK and Germany, many individuals are exploring alternatives to optimize their finances and improve their quality of life. Cyprus, with its favorable tax environment, stunning lifestyle, and strategic location, is fast becoming a top choice for relocation and investment....
Decoding the Cyprus Real Estate Landscape: A Comprehensive Guide
In the enchanting world of Cypriot real estate, navigating the market intricacies is pivotal for making well-informed decisions. Whether you're captivated by the historical charm of Paphos or the vibrant energy of Limassol, understanding the unique dynamics of the Cyprus real estate market is key to unlocking its full potential. Let's explore the specific aspects that contribut...
Reshaping VAT on First Homes
In a significant move with the close observation of Brussels, the Cyprus parliament recently passed a law altering the existing, reduced value-added tax (VAT) rate of 5 percent on first homes. This legislative change aims to continue making homeownership more accessible and affordable for individuals and families while alleviating pressure imposed by the European Commission. Ho...
Banking in Cyprus
Cyprus' banking system is modeled after the British system, with banking procedures, services, and management and control systems that are quite similar to those in the UK. Cyprus's financial system is regulated, supervised, and monitored by the Central Bank of Cyprus. Cyprus has various domestic banks, some of which are commercial banks and others of which are specialized fi...
Taxation in Cyprus
Taxation is an important factor to consider when purchasing a home in Cyprus, whether you are a resident or a non-resident. This includes income tax, immovable property tax, capital gains tax, inheritance tax, and value added tax. If you dwell in Cyprus permanently, you must pay Cypriot income tax on your international earnings. The good news is that tax rates in Europe ...
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