I am considering residency with non-dom status in Cyprus and decided to contact you after watching Mr. Tramountanellis’ informative videos.

Detailed enquiry about relocation

Dear Sirs,

I am considering residency with non-dom status in Cyprus and decided to contact you after watching Mr. Tramountanellis’ informative videos.

I am a male born in Brazil and hold both Brazilian and Italian citizenships.  I have no dependents.

I lived in the United States for over 20 years where I received higher education and had my career but do not hold US citizenship nor have any tax obligations there.

In 2017 I moved to Lisbon Portugal where I have family.  I have been on the NHR tax status since then but the 10 years will expire in early 2027 and I am looking for other residency options. 

I sold my small company in 2017 and have since lived entirely on income derived from financial securities held in a US bank account.  The income is entirely composed of interest and dividends so my tax liability in Portugal has been essentially zero under the NHR program.

I would like to speak to someone about the costs, benefits and implementation of Cyprus non-dom residency.

Please let me know how we can speak further on this matter.

With regards,

Client

Dear Client,

Good day and thank you very much for your email.

We would be happy to assist with your inquiry and answer your questions, inform you on the costs, benefits and obtainment of the Non-Dom status residency, via a one hour consultation call for 350,00 Euros plus VAT.

If you are interested to proceed, please let us know and we will initiate the process as soon as possible.

Thanking you in advance, and remaining at your disposal.

Kind Regards,

Dear Ms. Tramountanelli,

Your messages had gone to my spam folder so I only received them today.  My apologies for the delayed reply. 

I would be interested in a consultation however I have some reservations I would like to clarify beforehand:

1. I would be open to a very quick intro via zoom but am only willing to pay for actual legal advice in writing.

2. I find the fee quite high relative to other firms I have contacted for an exploratory conversation.  What isthe hourly rate of attorneys at your firm?  

3.  I see on LinkedIn that your area of practice has always been in Intelectual Property.  I am looking for very specific advice from someone that has handled a substantial volume of Non-Dom cases and can speak with authority on these matters.  Are you the ideal person to assist me?

I look forward to your reply.

With regards,

Dear Client

Good morning,

Thank you for your email.

Regarding a writing consultation, our fees vary depending on the subject matter and the specific questions to be addressed. Therefore, if you could provide a list of the questions you would like answered, we will revert with our fee accordingly.

For a consultation call (with the possibility of additional calls if required), our charge is €350 plus VAT.

With respect to your last inquiry, I serve as the Chief Operating Officer of the company and have been a practicing lawyer for 20 years, specializing in various fields, with a particular focus on Intellectual Property. However, the call or the writing consultation will be handled by Kyriakos Tramountanellis, the Chief Executive Officer of our company. We possess extensive expertise in this area, processing a minimum of one application per week.

Please let us know how you would like to proceed.

Remaining at your disposal.

Kind Regards,

Good morning Ms. Tramountanellis,

Thank you for your clarification. 

I would like to consult with Mr. Tramountanellis.  

A call could be partly acceptable as it would allow us to meet but I have found in the past that verbal information is often lost and requires repeating the same issues again in writing.

Below I have listed the issues I would like clarified.  How do you suggest we structure this consultation so that I leave with information I can go back to in the future?

Ideally I would like to provide you with as much information as possible before the consultation so that we make the most efficient use of time and that Mr. Tramountanellis is prepared.  

For personal background please refer to my first email.

1.  Eligibility: Given my Italian citizenship is there any possibility that my case would not be approved? I was born in Brazil.  My parents and immediate family currently live in Portugal where I am now resident.

2. Company formation:  the main issue I have is not wanting to set up a company.  I closed my last company I had in 2022 and have all my assets in my personal name.  I do not like to have the additional layer of bureaucracy and the high cost of accounting and fees that a company entails.  Given my profile is it probable that I can be approved without a company?  

3. Housing:  I plan on renting a residential property in the beginning but my plan is to eventually purchase.  Does the property need to be rented before the application is submitted?  Does the value of the rental contract make a difference?  Is it ok if it is only a one year contract? 

4. Income taxes:  If my income consists 100% of dividends and interest held in a financial account with a USA bank, will I be entirely exempt from income tax liability?  If I do sell some securities for a gain, is there any capital gains tax?  I understand any Cyprus generated income is taxable at local rates.

5. National Insurance:  How much will I actually pay yearly for this?   Are there any additional taxes, fees that are payable yearly? 

6. Length of program: Once approved is the status guaranteed for 17 years?  Is there any risk that my status could be revoked if a future government decides to discontinue the program?  Of course I am assuming full compliance with the stay requirements and no other problems. 

7. Stay requirement: My plan is to stay in Cyprus at least 75 days and probably at most 90 days.  As long as minimum 60 day above 70 days is the status legally guaranteed? 

8. Timing: I would like to begin Cyprus tax residency in 2026.  Is it possible to complete the application and formalities this year but delay the start of the status?  How would this work? 

9. Cost: What is the full cost of the application process including all government fees and attorney fees?  Are there other costs charged yearly to residents? 

If you need additional information please let me know.

Kind regards,

Dear Client,

You are eligible and you can run a very low tax operation from Cyprus. We can answer all the below enquiries in adequate detail for Euro 750 + VAT. Usually we charge more. 

Looking forward to hearing from you,

Dear Ms. Tramountanelli,

My apologies for the late reply as I was in the US for the past 2 weeks.

While I appreciate your offer I am not interested in paying this sort of fee for informational purposes at this stage.  I have been doing in-depth research and have clarified many of my concerns.

I consider first contact as an interview of your firm.  I am doing this with 3 firms before deciding which Cyprus firm to engage. 

So I reluctantly agree to pay for the initial call and would like to cover the issues I raise in my written points so I can compare firms using the same framework.

I plan to fly to Cyprus for an in-person meeting in mid-April to formalize the engagement.

Ideally we would schedule the call Wednesday next week if possible after 11AM GMT. Let me know Mr. Kyriakos' availability.

In the meantime please send me a fee schedule for the entire non-dom execution process.

Best regards,

Dear Ms. Tramountanelli,

I have decided to fly to Cyprus this Friday for in-person meetings next week regarding company formation and establishing tax-residency.

So I would prefer to meet in person instead of having a call.

What is the availability to meet in your Limassol office next week?

In the meantime send me your fee schedule for company formation, maintenance and immigration formalities.

Kind regards,

Client