Are there any advantages by relocating to Cyprus to pay less tax?
The Cyprus tax rules are applied with a mixture of hard and soft EU law that will allow flexibility to be applied to keep the spirit of traditional Cyprus low tax approach. Retired expats pay income tax at a flat rate of just 5%,(compared to 10-14% in UK) 10% for business and investment income and 20% for working individuals. With membership and freedoms enshrined in EU treaties, Cyprus can now be identified as a tax paradise.
