Cyprus…
An island on the mediterranean with more cats than people
I first visited it in 2023 (Larnaca), and had a great time!
Great beaches and sea
English friendly
Sunny weather
International
It’s also a popular option for location-independent workers:
15% Corporate Income Tax (CIT)
0% dividend if you’re non-dom (if you’re not a Cypriot resident, this applies to you in most cases), 5% otherwise
~2.6% health contributions on the dividends you pay yourself (capped to something like 4k eur/year)
60 days required to obtain (tax) residency
Basically, you can:
Set up a company for 2/3k eur
Accounting cost for 2/3k eur/year
Pay 15% CIT and ~2% health contributions → ~17% total tax
Spend majority of time there or, if you prefer, nomad around while keeping an address and a residency
It’s appealing to many.
Of course, no place is perfect.
And Cyprus has some downsides too:
But, which place is perfect after all?
Switzerland is expensive and boring.
Dubai is expensive, a monarchy, and horribly hot half the year.
Majority of EU countries have insane taxation and bankrupt pension systems
Asian countries are still developing in many cases, horribly polluted in others, and far off for many Westerners.
LATAM countries are also developing and often not the most safe.
“there is nowhere to go” - if you’re looking for the perfect solution.
If you’re not new here, you know I currently carry a “hybrid setup”.
And, if you’re not new to the topic, you know that this is a popular way of living for remote workers/business owners.
You might have heard the terms “bifecta” or “trifecta”:
These international setups usually have higher chances of giving you a close-to-ideal setup.
More than relying on a single-country solution.
Could Cyprus fit a possible bifecta/trifecta well?
Let’s see!
Considering Cyprus as a substitute of Switzerland in my setup
Not bad!
Then, I dived a bit deeper:
A few things in particular would be better in Cyprus than in Switzerland:
Cause you know…
the dream?
For some of you, it could very well be worth it to have your primary base in Cyprus.
Depending on your specific situation and what you value, of course.
For me, I don’t think I’d have to make it my first base:
Being already based there, makes a difference
A new trifecta 🇨🇭 🇨🇾 🇵🇱
classic euro-maxx
the nice addition?
coherent
opportunities
the staple
Haven’t taken any decision yet, just some considerations that I’ve done.
I will be visiting Limassol very soon, and give y’all an update if you’re interested!
Make sure to follow me on X where I post more frequent updates on the matter.
Stay safe GOAT 🐐🌐
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