Domicile in Cyprus

[Chaddy]

Rather a heated conversation yesterday ( down at the pub of course ) on the advantages of becoming domicile in Cyprus.This is if you have been resident here for i think 17/18 years and paying your due taxes.The opinions of the regulars on this topic was split about 50/50 and as there was no elected chairman ( or should i say elected chairperson ) the debate was left open. Comments on this subject would be most welcome so i can input at the next pub " board meeting ".

[Jim B]

Going the legal route takes about 7 years, you can apply after 5 years residency and it then takes another 2 years to be processed for citizenship and €500 for a passport.. If you marry a local or are a descendent you can apply immediately and it takes about 2 years to be processed and €70 for a passport.
I don't really see what the problem is, there are tens of thousand of Cypriots who have joint Cypriot/British Citizenship but would suggest British with dual Citizenship in Cyprus are limited.

[wantoosoon]

€500 for a passport

Is that right? It seems extortionate!

[WHL]

€500 for a passport

Is that right? It seems extortionate!

500e is for the whole application process

http://www.moi.gov.cy/moi/crmd/crmd.nsf ... enDocument

[galexinda]

Some more information about domicile in Cyprus (for tax reasons):

https://www.totalserve.eu/Assets/Images ... 607458.pdf

[Chaddy]

Thanks so far for the info,keep it coming,certainly enough to keep us all busy ( down at the pub ).But like in all pubs there are many experts,and the more we neck them back the more expert we become.

[Jim B]

€500 for a passport

Is that right? It seems extortionate!

500e is for the whole application process

http://www.moi.gov.cy/moi/crmd/crmd.nsf ... enDocument

WHL
No it's €500 for citizenship and €500 for the passport unless you're a spouse or a descendent and then it's €70. We had to pay that for my wife's passport.

[WHL]

Is that right? It seems extortionate!

500e is for the whole application process

http://www.moi.gov.cy/moi/crmd/crmd.nsf ... enDocument

WHL
No it's €500 for citizenship and €500 for the passport unless you're a spouse or a descendent and then it's €70. We had to pay that for my wife's passport.

Apologies I read it wrong.

[Lofos-Jan]

But I don’t believe you need citizenship to become domiciled in Cyprus. Regarding Cyprus Defence Tax, if you have been tax resident in Cyprus for at least 17 out of the last 20 years prior to the tax year in question, you will be deemed to be domiciled in Cyprus for the purposes of the SDC Law.

Jeanne

[Jim B]

But I don’t believe you need citizenship to become domiciled in Cyprus. Regarding Cyprus Defence Tax, if you have been tax resident in Cyprus for at least 17 out of the last 20 years prior to the tax year in question, you will be deemed to be domiciled in Cyprus for the purposes of the SDC Law.

Jeanne

That's how I read it. If you're registered in the Cypriot tax system as spending more than 183 days in country for at least 17 years you be deemed domiciled.

[josef k]

Domicile and citizenship are two completely different things. Domicile and residence are also completely different thigs.

As I understand it, domicile is a status that determines where you pay SOME taxes, and is determined by things such as length of time in a country and the physical distribution of assets.

Regarding citizenship costs, Jim B is right. A total of 1000 euros.

[darrow]

I can tell you, when my other half passed away, for the benefit of inhertiance tax in UK, he was domiciled in Cyprus. Since there is no inhertance tax in Cyprus that did not matter, but all the UK assets were deemed as counting towards the £325000, allowance given to a spouse, Consequently, my allownce when passed on will only be the £ 32500, not £ 650, 000, this is despite paying tax in both countries. So beware if you have assets in UK but are domiciled in Cyprus. I was told that he was considered domiciled acter several years of living in Cyorus and paying taxes there. He didn't consder himself as domiciled in Cyprus but HMRC thought differently.