Changes to Cyprus Succession Laws Affect Inheritance Tax for Expats Property
Sam Orgill of ProACT Partnership with Tax Saving Tips for Property Ownership
New EU Succession laws enforce radical change for Expats living and working abroad in the EU, or with assets in these countries. While the UK and Ireland have opted out of applying the EU Directive it still affects EU expats with tax residence or domicile in the EU. This means changes to the way you organise and plan your Family inheritance, business and overseas property investment assets and income?
Changes Keep Coming
The changes mean that you must settle your world-wide estate in the country you habitually ‘live’. This could be different to the country of your tax residence AND the country of your tax domicile (‘where you are from’)
Free Review – Property Inheritance Tax
ProACT offer a Free Review of your Wills, title deeds, property assets and identify inheritance tax savings. Whether a Cyprus tax resident or not we can ensure your family is protected and makes tax saving on death
Expats must make written changes of your Will if you want to use the succession rules of your home country. But consider the impact on inheritance tax at 40% in the UK or other countries. Consider who you want to benefit in your Will, is this possible with your arrangements?
CONTACT US to book a Free review.
Read more on our website www.proactpartnership.com/blog
Sam Orgill REGISTER FOR UPDATES
Tel +357 26 819 424 CONTACT US