Sam Orgill of www.proactpartnership.com looks at ways to cope with the credit crunch and some changes needed to stay ahead
Expats can start to believe that they will soon be able to breathe again as the economic outlook starts to brighten up.
Exchange rates are improving today at Euro1.14 to one pound. Pensions paid overseas into euros will start to give more cash to spend as exchange rates ease in the coming months.
The average exchange rate in 2009 Euro to GB£has been €1.10 - This bodes well for Temporary Tax payers with pension and employment income. €19,500.00 will be the equivalent to £17,700.00. For those pensioners who have suffered with the currency crunch the payoff will come with deferred tax.
Savings Tax only needs to be paid if you hold a taxable account. you can pay no savings tax by reviewing the holding. Contact us for a free review and guidance.
Look out for ProACT's summer specials where we offer all expatriates way to save money with added value offers and reduced priced offers. Save 30% off Tax & Wills Click Here to Read More Buy one - Get one FREE offer Click Here to Read More
Sam Orgill of www.proactpartnership.com looks at ways to cope with the credit crunch and some changes needed to stay ahead
Expats can start to believe that they will soon be able to breathe again as the economic outlook starts to brighten up.
Expats can retain the benefits of low tax Cyprus tax even if they spend the majority of time travelling to other locations around the world. There are some rules and guidance but dont break the rules and continue to pay low cyprus tax. See the family, see the world and lift yourself out of the credit crunch gloom!
Remember - You can remain a Cyprus tax resident as long as you don't become a tax resident elsewhere. This means don't spend more than 6 months in a tax year in another country OR 90 days in your home country.
One tactic UK expatriates could use this summer is this: The 90 day "rule" for time in the UK is based on a 4 year average. If you have days "available" why not stay longer in the UK this summer, stay with family or friends and wait for the exchange rate to pick up before returning to Cyprus in the new year.
Whether you are relocating to or from Cyprus Contact us for a free review and guidance.
Look out for ProACT's summer specials where we offer all expatriates way to save money with added value offers and reduced priced offers. Save 30% off Tax & Wills Click Here to Read More Buy one - Get one FREE offer Click Here to Read More
Sam Orgill of www.proactpartnership.com looks at ways to cope with the credit crunch and some changes needed to stay ahead
Expats can start to believe that they will soon be able to breathe again as the economic outlook starts to brighten up.
Expats can retain the benefits of low tax Cyprus tax even if they spend the majority of time travelling to other locations around the world. There are some rules and guidance but dont break the rules and continue to pay low cyprus tax. See the family, see the world and lift yourself out of the credit crunch gloom!
Remember - You can remain a Cyprus tax resident as long as you don't become a tax resident elsewhere. This means don't spend more than 6 months in a tax year in another country OR 90 days in your home country.
One tactic UK expatriates could use this summer is this: The 90 day "rule" for time in the UK is based on a 4 year average. If you have days "available" why not stay longer in the UK this summer, stay with family or friends and wait for the exchange rate to pick up before returning to Cyprus in the new year.
Whether you are relocating to or from Cyprus Contact us for a free review and guidance.
Look out for ProACT's summer specials where we offer all expatriates way to save money with added value offers and reduced priced offers. Save 30% off Tax & Wills Click Here to Read More Buy one - Get one FREE offer Click Here to Read More
