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Cyprus - "the island of love" and of minimal tax ?
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Keith Cobby
Posted: 18 February 2025 11:47:08(UTC)
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I have visited and like it very much (same with Crete) but not sure I would move there permanently. A good place to Winter though.
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Neminem Laedit on 18/02/2025(UTC)
Neminem Laedit
Posted: 18 February 2025 11:51:44(UTC)
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ANDREW FOSTER;334869 wrote:

The number one question for from me for any retirement location is the cost and/or system of healthcare...


Cyprus has an advanced healthcare system, and British pensioners are entirely subsidised by the UK.

https://www.shipit.co.uk...ealthcare-in-cyprus.htm
https://www.gov.uk/guidance/healthcare-in-cyprus
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Guest on 18/02/2025(UTC), ANDREW FOSTER on 18/02/2025(UTC)
eain
Posted: 18 February 2025 11:51:53(UTC)
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Become a swallow, spring and autumn.

We spend about 20 weeks in the north and enjoy it.

Wouldn't live full time though.

Feb, miserable and cold,summer too hot.

Love my own country and europe
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Neminem Laedit on 18/02/2025(UTC), Jay P on 18/02/2025(UTC)
Neminem Laedit
Posted: 18 February 2025 13:30:27(UTC)
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I estimate a "pensioner" with a pot of £1m would save £10k in tax every year by taking advantage of the income tax breaks in Cyprus, compared to the UK.

For £2m, it rises to about £35k saved every year.

For £3m, it rises to about £60k saved every year.

Assumptions: amortization, based on a 30 year horizon, drawing exclusively from a SIPP.

Could pay for lots of trips/cruises, etc., away from Cyprus during the very hot and touristic months (Jun/Jul/Aug)...

Putting it another way.

For a £50k income including SP it's a £5.1k annual tax saving.
For a £75k income including SP it's a £13.8k annual tax saving.
For a £100k income including SP it's a £22.5k annual tax saving.
For a £125k income including SP it's a £36.3k annual tax saving.
For a £150k income including SP it's a £46.3k annual tax saving.

If you're wealthy, it seems like a no-brainer. Spend six months in Cyprus (doesn't have to be continuous), and maybe 3 months back in Blighty (check the SRT rules), and three months travelling the world on your tax savings...
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Jay P on 18/02/2025(UTC)
eain
Posted: 18 February 2025 13:43:51(UTC)
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Neminem Laedit;334898 wrote:
I estimate a "pensioner" with a pot of £1m would save £10k in tax every year by taking advantage of the income tax breaks in Cyprus, compared to the UK.

For £2m, it rises to about £35k saved every year.

For £3m, it rises to about £60k saved every year.

Assumptions: amortization, based on a 30 year horizon, drawing exclusively from a SIPP.

Could pay for lots of trips/cruises, etc., away from Cyprus during the very hot and touristic months (Jun/Jul/Aug)...



your choice, i like my Scottish base too much
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New Simon T
Posted: 18 February 2025 17:09:10(UTC)
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Neminem Laedit;334894 wrote:
ANDREW FOSTER;334869 wrote:

The number one question for from me for any retirement location is the cost and/or system of healthcare...


Cyprus has an advanced healthcare system, and British pensioners are entirely subsidised by the UK.

https://www.shipit.co.uk...ealthcare-in-cyprus.htm
https://www.gov.uk/guidance/healthcare-in-cyprus

If you have a UK state pension and eligible for a S1 and your partner if younger can also piggyback it
Same as Spain

EDIT.. married partner, I have had numerous friends who are having to remarry in Gibraltar as their Las Vegas and others, marriages cannot be certified as the records get deleted after 6 years .. bizarre I know.. In Spain all documents have to be less than three months old,ie new copies of marriage certificates etc

And on a S1 there are no problems with existing conditions, private medical insurance with no copays will bar existing conditions.. In our situation we have seven years to go
It is annoying as I (ex rugby amateur stopped playing 32 years ago ,) have had surgeries on my nose, shoulders, ribs, knees, ankles and toes and have arthritis. My wife has psoriasis and as such has problems with arthritis due to that.
We are in good health but until we get our S1 it’s all not covered under private medical insurance
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Neminem Laedit on 18/02/2025(UTC)
Neminem Laedit
Posted: 18 February 2025 20:47:58(UTC)
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Jay P on 18/02/2025(UTC)
Neminem Laedit
Posted: 20 February 2025 17:04:23(UTC)
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Last year, Paphos was given the accolade of "Most Livable Small City in the World."

https://medousadeveloper...-jewel-of-livable-cities
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