What a 6 months.  Cyprus under scrutiny from the Troika came up with game changing tax changes that reposition Cyprus as a Tax Friendly location for Expats living, working, investing and retired abroad.

These changes impact on the laws of succession affecting Wills, Trusts, and in turn Property, Business and Investments.  The EU inspired legal changes allow new ways to save inheritance tax, a tax residence with no saving or investment taxes, maintain a pension tax environment of 5% income tax, discounts in property taxes on purchase and capital gains exemptions on overseas Cyprus property sales.

How does this affect your Family planning for inheritance, business and overseas property investment? 

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Now every Expat must review their Wills to ensure that your Wishes are meet and your assets can be distributed as your wish in your Last Will & Testament. Consider Inheritance Tax, Savings Taxes and Property Title Deeds: to bring your  needs in line with the new legislation.

ProACT Expatriate Tax Saving Expat Experts – Free Review

ProACT can also assist and offer Free Review and advice to Make a Will, provide updates or revisions as required. You may want to make gifts to avoid Inheritance Tax. Gift to Family, Gift to Trust.

This may just give you piece of mind, but also ensures that when someone dies, unforeseen problems, expense and inheritance taxes are avoided.

Contact Us for a Free Review. Contact Us Free Review !!       

If you want to choose who benefits - make written changes to your Will. 

Domicile and Inheritance Tax

If you want to avoid 40% Inheritance tax in the UK, your choices need further consideration with the new EU legislation and a global move towards a statutory definition of Domicile.  

If you write in a Will confirming your domicile as your home country then Inheritance Tax is assessed there.  0% inheritance tax applies in Cyprus if family inherit under Cyprus laws of succession.  

A Cyprus centred approach could trigger a full Inheritance tax assessment of Worldwide assets on death. Meaning UK expats pay 40% tax on Cyprus Overseas Property Assets.

Sam Orgill ProACT Partnership Expatriate Advice looks at how Inheritance Tax and Your Property and Your Will could Protect Your Family. Make a Will.  Make a Codicil. Make Gifts to Family or Trust

Change of EU Law impacts Expat Wills

The adoption of the new EU law impacts in with Cyprus assets by removing from Cyprus Law the options, previously available, to settle your Will under the law of your home country. 

Now every Expat must review their Wills to ensure that your Wishes are meet and your assets can be distributed as you wish in your Last Will & Testament

Consider your position: Inheritance Tax, Savings Taxes and Property Title Deeds. Bring your  needs in line with the new legislation.

You should review your Will to ensure that your Wishes are met and your assets can be distributed as you wish in your Last Will & Testament. 

EU Law of Succession

Now the EU is the controlling legislation which says that your estate must be settled in your country of Residence. Nationality is not your Domicile.  This is a Gift horse

Sam Orgill ProACT Partnership Expatriate Advice looks at other ways to Protect Your Family Inheritance. www.proactpartnership.com  

Change of EU Law impacts Expat Wills

The adoption of the new EU law impacted Cyprus law by removing the options previously available to settle your Will under your home country laws. You should review your Will to ensure that your Wishes are met and your assets can be distributed as you wish in your Last Will & Testament.

 Contact Us Free Review !!

Cyprus Law of Succession

Now the EU is the controlling legislation which says that your estate must be settled in your country of Residence.

That is not the same as the country you are from.  A legal definition of Domicile has been introduced in Cyprus.  Your country of birth and of your parents is defined as your country of origin. Where you are From. You can change your Domicile.....

Sam Orgill www.proactpartnership.com  Summers over - time to review for Expats

Cyprus Moves and Changes

In July the tax law was changed.  Then the government announced the changes.  Later some of the changes (still proposals) will be enacted in September, after the holidays.  This has caused some confusion and delay as the news crept out.  All will become clear…..

This article addresses some of the implications and changes in hand for Expats living and working abroad or investing overseas in Cyprus Property and Business.  There is also a big impact in tax saving for offshore investment and the real bonus of a new Inheritance Tax planning strategy with a statutory basis.

The objective of the changes are to attract new overseas investors in Cyprus Property and Business.  Whether you are living and working abroad, retired or investing offshore, Expats should review their Wills, Property, Business and Inheritance Tax positions to take advantage of the new rules and tax savings.

Sam Orgill www.proactpartnership.com highlights UK Budget Changes require new approach to Wills and Property Investment for Expats. It’s time to review or make a will
 Contact Us for a Free Review
The UK post-election Budget introduced , in theory a 1 million pound Inheritance Tax allowance for UK Domiciled nationals. But only those with the right assets, and the right family conditions, can benefit.  Expats with Property or investments abroad are still subject to the 40% Inheritance Tax Rate on death.

The UK has one of the highest Inheritance tax rates in the world, outstripping France, Japan and Belgium.  While the headlines sound and feel good the reality can still be expensive.