| Paphos People https://mail.paphospeople.com/ppforum/ |
|
| Cypriot Banking ? https://mail.paphospeople.com/ppforum/viewtopic.php?f=47&t=5249 |
Page 1 of 1 |
| Author: | discopants [ Thu Oct 02, 2008 10:45 pm ] |
| Post subject: | Cypriot Banking ? |
Can anyone from the UK who is now considered a Cypriot resident please tell me, do you have all your monies invested in Cyprus banks? Does having money invested with offshore banks affect your Cyprus residency ? Do you still have monies invested with UK banks? Does the Cyprus defence levy only apply to interest gained in Cyprus banks ? Thanks Gary |
|
| Author: | sevener [ Fri Oct 03, 2008 8:17 am ] |
| Post subject: | Re: Cypriot Banking ? |
discopants wrote: Can anyone from the UK who is now considered a Cypriot resident please tell me, do you have all your monies invested in Cyprus banks? No
Does having money invested with offshore banks affect your Cyprus residency ? No Do you still have monies invested with UK banks? Yes Does the Cyprus defence levy only apply to interest gained in Cyprus banks ? No unfortunately Thanks Gary |
|
| Author: | discopants [ Fri Oct 03, 2008 7:30 pm ] |
| Post subject: | Re: Cypriot Banking ? |
Thanks Brian. Are you now a Cyprus resident as in your pension is eligible to be taxed at 5% ? Gary |
|
| Author: | clive of payia [ Fri Oct 03, 2008 10:18 pm ] |
| Post subject: | Re: Cypriot Banking ? |
Your pension, OAP or private is only taxable if your 'worldwide income' is above Euros 19,500.00. Register with the Cyprus tax people and fill in their form and you get it back with nil to pay. Wonderful. |
|
| Author: | discopants [ Sat Oct 04, 2008 12:36 am ] |
| Post subject: | Re: Cypriot Banking ? |
Clive, could you expand please ? my income will exceed the figure you quoted,but I don't understand what it is you are saying. My understanding is that once you are acknowledged as a Cyprus resident you only pay 5% tax on your income I need to know what you have to do before you are considered to be a Cyprus resident. This question is open to anyone, not just Clive ! Thanks Gary |
|
| Author: | Molly [ Sat Oct 04, 2008 8:10 am ] |
| Post subject: | Re: Cypriot Banking ? |
Hi Gary This web site may be of use to you: http://www.mof.gov.cy/mof/ird/ird.nsf/d ... enDocument |
|
| Author: | clive of payia [ Sat Oct 04, 2008 10:22 am ] |
| Post subject: | Re: Cypriot Banking ? |
Gary, you will therefore pay income tax in Cyprus at the percentage indicated on the IR's website. Any ex-pats are under the false illusion that you pay 5% on your pension even if it's under 19,500 euro's. if you are still unsure than a trip to the IR office in Paphos, sorry I don't know where it is located today, and they will help you and give you the approriate form. Clive |
|
| Author: | discopants [ Sat Oct 04, 2008 1:14 pm ] |
| Post subject: | Re: Cypriot Banking ? |
Thanks Molly for the link but the page I want is under construction. Clive, I may very well be mistaken, but I was/am under the impression that a Cyprus resident pays 0% tax on the first 3400 euros of a pension, then5% on anything above. Is this not the case ? I am talking about pension not income. Gary |
|
| Author: | Molly [ Sat Oct 04, 2008 1:37 pm ] |
| Post subject: | Re: Cypriot Banking ? |
Try this one Gary: http://www.mof.gov.cy/mof/ird/ird.nsf/A ... enDocument |
|
| Author: | discopants [ Sat Oct 04, 2008 9:00 pm ] |
| Post subject: | Re: Cypriot Banking ? |
Thanks Molly, that shows the first 19500 at 0% tax then 20%, I'll settle for that ! Gary |
|
| Page 1 of 1 | All times are UTC + 2 hours [ DST ] |
| Powered by phpBB® Forum Software © phpBB Group http://www.phpbb.com/ |
|