Welcome to the FAQ pages of the ProACT Expat Expert Question & Answer web pages where you have access to professional expatriate advice on a wide range of topics relevant to Families & Business Living Abroad - whether living, working, retired or investing overseas.
ProACT includes professional advice from UK lawyers and UK accountants as well as an Overseas Estate Agent service and a specialist Expatriate Tax & Trust Consultancy. About Us
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Posted 1 week, 6 days ago at 3:40 am. Add a comment
Q. What do I need to do in order to become a Cyprus Tax Resident?
A. You have to complete an Immigration & Residency application process in order to register for Cyprus tax - which takes somewhere between 6 - 12 months. ProACT can help with all of the Immigration, Tax, ID and medical requirements and formalities.
For more information contact info@proactpartnership.com or go to www.proactpartnership.com
Posted 2 weeks ago at 12:09 pm. Add a comment
Q. About 3 years ago, prior to Cyprus joining the EU we bought a Cyprus property in order to get a “foot on the ladder”. Can we now pay Cyprus tax?
A. You need to spend 183 days in Cyprus per year in order to qualify as a tax resident for all your worldwide income.
For more information go to: www.proactpartnership.com or contact us at info@proactpartnership.com
Posted 2 weeks ago at 12:04 pm. Add a comment
Q. Because of potential changes to the UK tax legislation my UK accountant has advised that I consider Cyprus given the double-taxation agreement.
A. Cyprus has a full double-taxation treaty with the UK and because you pay tax on worldwide income albeit at a significantly lower rate - generally no tax arises in the UK. The exception is income fixed in the UK.
For more information go to www.proactpartnership.com or contact us via info@proactpartnership.com
Posted 2 weeks ago at 11:59 am. Add a comment
Q. As a pilot paid tax free from the Channel Islands into a UK account I’m advised that due to changes in the tax legislation I may be liable for UK tax from 2008. Should I consider paying Cyprus tax?
A. Yes. The recent ruling by the Law Lords in the Tax tribunal case known as GRACE has ruled that based in the UK but working abroad can still be considered liable for UK tax. Once a Cyprus tax resident you will be subject to tax on worldwide income - but there are ways to mitigate tax liability.
For more details go to: www.proactpartnership.com or CONTACT US
Posted 2 weeks ago at 11:41 am. Add a comment
Q. I’m in the Merchant Navy and paid from the Channel Islands Tax Free into a UK bank account and I work outside of the UK for more than 182.5 days per annum. Recently there have been changes to the UK tax laws that mean I may potentially have to pay full tax from 2008 - Should I consider the double-taxation agreement with Cyprus ?
A. Yes. The recent ruling by the Law Lords in the Tax Tribunal case known as GRACE ruled that based in the UK but working overseas can still be considered liable for UK tax.
For more information log on to: www.proactpartnership.com or CONTACT US
Posted 2 weeks ago at 11:23 am. Add a comment
Welcome to the FAQ pages of the ProACT Expat Expert Question & Answer web pages where you have access to professional expatriate advice on a wide range of topics relevant to Families & Business Living Abroad - whether living, working, retired or investing overseas. 