With regards to the investment portfolio, I have to reside in Cyprus 60 days per year as a non-domicile, was that correct?

 

 

 

 

Hello dear Client,

Non dom - yes

We can have a chat on Friday or Monday!

 

Client's response:

Good day CYAUSE team,

 

I will add the questions I had prepared to ask you today. It's fine if you answer by email because then I can reference your knowledge at a later time!


1. Can you give me a step-by-step guide of the process for me moving to Cyprus now and in writing so I can reference it later .

 

2. I’m looking at properties for rent in Cyprus, is there a minimum requirement in terms of Euros per month to keep the non-domicile status?

 

3. When I come to Cyprus what will I need to do to book an appointment with the immigration office?
 

4. How does healthcare work in Cyprus?
 

5. Can I legally transfer my personal own investment portfolio which is listed on European centralized exchanges to my Cyprus company without paying taxes, or do I have to sell all my portfolio first and then after paying 22 % tax on any capital gain to the Norwegian tax authority, then I can transfer the remaining money? 

 

6. In terms of my company, I’ll be the only shareholder, and you will be the accountant, correct?

 

7. Do I have to file yearly financial documents for my business?

 

8. Do you know of any good way of learning the Greek language in Cyprus or online?

 

9. Is it possible for me to import a car and register it in the company name, and should I wait to buy a new one before the company is officially registered?

 

Best regards.

 

CYAUSE team response:

Hello dear Client,

You can find my response below in bold letters.

 

1. Can you give me a step-by-step guide of the process for me moving to Cyprus now and in writing so I can reference it later .

a) Company creation

b) you becoming employee of the company + we applying for your Yellow slip

c) you can come to Cyprus 

 

2. I’m looking at properties for rent in Cyprus, is there a minimum requirement in terms of Euros per month to keep the non-domicile status?

No such requirement 

 

3. When I come to Cyprus what will I need to do to book an appointment with the immigration office?
We will arrange the above and let you know
 

4. How does healthcare work in Cyprus?
Once you receive salary you will be paying social securities and national health care system (GESY). This payment enables you to use freely or with marginal cost our national healthcare system. 
 

5. Can I legally transfer my personal own investment portfolio which is listed on European centralized exchanges to my Cyprus company without paying taxes, or do I have to sell all my portfolio first and then after paying 22 % tax on any capital gain to the Norwegian tax authority, then I can transfer the remaining money? 

The second option is best, correct and legaly sound as once you transfer your stocks to a company you create a tax point for yourself. You pay the taxes in Norway and whilst you are Norwegean tax resident you transfer the portfolio to the Cyprus entity. Once you sell from the Cyprus entity you will be taxed at Cyprus Tax Levels.

We can discuss this in more detail. 

 

6. In terms of my company, I’ll be the only shareholder, and you will be the accountant, correct?
If you are coming to Cyprus and becoming non dom, then you will be the shareholder and director and we will be the company secretary (and maybe the directors should you want us to). But we need to decide this now to commence / start with the company creation. So let us know the preferred stracture of the company.

 

7. Do I have to file yearly financial documents for my business?

 Yes annually, we will be performig the acoucntnig audit and tax services and corresponidng filings.

 

8. Do you know of any good way of learning the Greek language in Cyprus or online?
I am afraid i can not help you here!

 

9. Is it possible for me to import a car and register it in the company name, and should I wait to buy a new one before the company is officially registered?

It is best to wait until the company is created. Why do you want to put it under the company? For non dom purposes is best to have it under your name. You show substance and ties with Cyprus; you are living here, bought a car etc.

 

Client's response:

Good day,

I have two questions regarding health care and inheritance rules in Cyprus. 
 

• How will I get access to health care in Cyprus, and will this insurance be enough to cover everything? Or will I need more, and if so how much will the cost be per year and what will it
  cover?
   
• Can you help me set up an inheritance the day I die so that my wealth can be passed down onto my wishes? They will be listed in prioritized my order:

 

1. My mother
2. My sister
3. Research towards Huntington's Disease. If the disease is cured by the time I die, then you can donate my money to research for other illnesses. 
   
    

If you need any further information, please let me know.

 

CYAUSE team response:

Hello dear Client,

 

- Health Care

You will be entitled to GESY / NHS healthcare insurance here in Cyprus that covers almost everything. You will be contributing towards this via your salary - we can discuss this later at a call.

 

- Inheritance

We can find you a lawyer who can take care of such documents - should not be expensive. Do you want us to get quotations so that you know how to act.

 

REMINDER:

You should build the portfolio of securities and cryptos within the company. First you invest capital / cash, this capital is used to buy shares etc. 

If you transfer your personal portfolio to the Company it could generate taxes for you - depending where you are tax resident.

If you want to run things further with me let me know to schedule a call.

 

Thank you,

CYAUSE team