Hi,
I want to move to Cyprus, incorporate a company and work remotely. All fine and dandy but I will also need to cash out a large amount of money by selling cryptocurrency. These wouldn't be trading proceedings, I just bought years ago and held long term. It would be a one-off sale. I don't do short term trades.
From my understanding, capital gains derived from cryptocurrency trading might be taxed in Cyprus, from 20% to 35%.
Would I get taxed even if it's a one-off sale of long term holdings and it's clearly not a professional trading activity? Would they bother me as a non-dom or is the tax office more relaxed towards foreigners?
I'd like to know if anyone here managed to sell long term crypto holdings successfully without triggering tax... Also bonus question: would I need to declare my cryptocurrency holdings each year to the tax office?
Thanks a lot
I want to move to Cyprus, incorporate a company and work remotely. All fine and dandy but I will also need to cash out a large amount of money by selling cryptocurrency. These wouldn't be trading proceedings, I just bought years ago and held long term. It would be a one-off sale. I don't do short term trades.
From my understanding, capital gains derived from cryptocurrency trading might be taxed in Cyprus, from 20% to 35%.
Would I get taxed even if it's a one-off sale of long term holdings and it's clearly not a professional trading activity? Would they bother me as a non-dom or is the tax office more relaxed towards foreigners?
I'd like to know if anyone here managed to sell long term crypto holdings successfully without triggering tax... Also bonus question: would I need to declare my cryptocurrency holdings each year to the tax office?
Thanks a lot
