Home European Citizenship Living in Cyprus for digital nomads: Pros and cons

Living in Cyprus for digital nomads: Pros and cons

Learn more about living in Cyprus for digital nomads – what are the benefits and the downsides and whether you should do it.

Is Cyprus a good place to live for digital nomads and entrepreneurs?

Andrew discusses service quality, accessibility, food, living standard, internet speeds, English proficiency, and more in this onshore tax haven.

Cyprus has a pretty low corporate tax rate, especially according EU standards, but that doesn’t necessarily mean that personal income tax rates are low.

And if you decide to live in Cyprus, personal income tax of up to 35% could apply to you.

Cyprus has potential as a low-tax haven, but only if you run your business from there, not if you’re living there long-term.

When it comes to stuff you can see and enjoy, there’s something for everyone, and beach lovers will particularly enjoy Cyprus.

Thanks to Cyprus citizenship by investment program, you’ll find plenty of Chinese and Russians there, and there’s a diversity of people living there.

But what do you find when you venture out of upscale areas? What’s the landscape and food like?

Watch the video to the end to get more interesting tidbits.

Subscribe to our channel and stay tuned for more videos and information about second passports, offshore strategy, reducing your taxes and going where you’re treated best.

ABOUT NOMAD CAPITALIST

Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.

Andrew started Nomad Capitalist to help people like you follow his five magic words: “go where you’re treated best”. He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.

He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.

As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.

Nomad Capitalist’s Youtube channel is based on Andrew’s vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.

About Andrew: nomadcapitalist.com/about/
Our website: nomadcapitalist.com
Our blog: nomadcapitalist.com/blog/
Work with Andrew: holanomad.com/

source

- Advertisement -portugal citizenship by investment
Stay Connected
Must Watch
Related News

27 COMMENTS

  1. I can't believe you failed to mention the non-domiciled residence program which exempts you from taxation for 17 years. Or that you forgot to mention that there is no income tax on dividends or interest (only a 17% defense contribution after your initial 17 years).

  2. Non Domicile status can make a big difference for income generated outside of Cyprus, if you are tax resident in Cyprus but have personal income from outside Cyprus then if you are a non domicle status then you only pay income tax on money you bring to Cyprus. Read up about non domicle status, most foreigners will be eligible.

  3. Tax situation seems to be different if you don't remit to Cyprus or have a non-Cypriot company elsewhere. Income taxes for non-domiciled are different especially when earned elsewhere.

  4. Locals are super xenophobic especially with influx of refugees and asylum seekers. Felt bad for an African friend of mine (a well-groomed General Surgeon from London) who was treated 'differently' especially by middle-aged and older generation. Interestingly the upper classes are anglophiles but lower classes blame the division of Cyprus on Brits and generally get moody around them. Another friend of mine was given the nickname 'Charlie' everywhere he went (especially in villages by old folk) which is a derogatory term for the English. So if you have a British accent be prepared for some uncomfortable political chats…best to ignore and quickly move on. It's a very 'closed' society and it has one of the highest prevalences of clinical depression in Europe. Unsurprisingly things here have deteriorated here a lot since 2013.
    Stay clear of Greek-Cypriots. Greeks from mainland are more composed and have a wider world view and generally seem more educated.
    ELAM, a right-wing party are on the up. Wouldn't advise non-Europeans buying citizenship here.

  5. the cat at the back is looking for her lover, trying to attract female cats hahaha. it will be easy to go to switzerland live and work there using a cyprus passport. another great video from andrew! 🙂

  6. I think a lot of people look at a map, and say "whoa… that looks cozy!" i mean at least when the nukes start to drop, it might be alright… maybe lol.

  7. Great video, Andrew 👏🏼 what if you’re an EU citizen and want to live within the EU and reduce your personal tax? While it is correct that Cyprus has a progressive income tax scheme it also seems like you don’t have to pay tax on dividends there. So wouldn’t then Cyprus be the most attractive option within the EU as a personal home base? At least for EU passport holders who don’t want to deal with visas and CBIs. Would be awesome if you could clarify this or even make another video about that topic. Cheers

  8. You captured the digital nomad living at Cyprus damn well. We moved there from Sweden and lived by the ocean right outside of Paphos for a year and half. We will come back. Friendly locals and loads of brits, dutch and some canadians. We had a phone/internet subscription from a Norwegian company, worked out very well, 100Gb/month -also with unlimited domestic phone calls as well as to Swe. The island is way more built up then Greece, the roads and houses etc. (and some aren´t) People are very nice and laid back. A very good combination of traditional Mediterranean lifestyle/cuisine and the western world life (thanks to UK) with a bit unusual US junk food (for Swedes like us) such as Dominos, Cinnabon etc. Also very easy to establish a living and work within EU -this with a perfect climate!

LEAVE A REPLY

Please enter your comment!
Please enter your name here