9 Reasons to Rejoice in Brexit for UK Expats
9 Reasons to Rejoice in Brexit for UK Expats
- PERMANENT RESIDENCY
- DT 0%
- PENSIONS 5%
- INDEX PENSION
- 27k TAX FREE
- DIVIDENDS TAX 0%
- CGT
- BILATERAL SOCIAL WELFARE
- CYPRUS WEATHER
- Cyprus welcome uk expats with association over 5 years permanent residency
- New Double Taxation DT treaty between UK and Cyprus confirms and allows Expats to pay 0% Tax on savings and dividends with no upper limit
- New DT Treaty allows pensions paid at 5% for UK Expats with no upper limit.
- As a commonwealth country cyprus expats continue to get indexed state pensions. This is not an automatic right. Most commonwealth countries and EU countries allow index of pensions. Leaving the EU may mean UK Expats Living in EU may no longer enjoy indexed pensions going forward. As a commonwealth country Cyprus is likely to still allow indexed uk state pensions for expats.
- There will be some winners and losers. UK Expats with the right mix of Pension income could tax up to £27k Pension income tax free in Cyprus, up from the basic £17k tax free allowance for Cyprus expats.
- Expat Business using Cyprus as a TC residency will pay pay 0% tax on dividends with no upper limit.
- Expat business can avoid CGT on business disposals, Cyprus is an ideal place to build an expat business holding.
- Pre existing social and health care bilateral treaties between Cyprus and UK could allow expats to continue to receive health care and social welfare benefits after EU Brexit for Expats Living and Working Abroad in Cyprus
- Finally , for Expats in Cyprus - It’s warm weather in cyprus and a nice place to live.