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glengoolie

BANNED MEMBER
the non-dom is supposedly irrelevant. this is the answer i got:
Answer is very straight forward.
You would require to register as self employed, and pay relevant contributions, depending on level of income, subject also to CAP on contributions. They mere fact of being non-dom, is irrelevant, as any benefit of non dom, is related entirely to defence tax contributions.

the thing is that i believe there are two philosophies, one says you are ok and CGT is 0%. the other says no, you have to be self-employed and pay income tax.

just like you said yourself. so even the accountants do not know themselves and i think that says a lot about the state of law in Cyprus.

personally i am on the side of 0% CGT applies but when you cannot get unified answer from the accountants themselves, obviously there is a big issue of uncertainty and risk of Cyprus taxman hitting you with taxes later on.

i will ask the government directly. maybe i will get a straight answer.
 

glengoolie

BANNED MEMBER
great
Because of this you need the non-domiciled status.

I can just give the info of 3 different accountants I personally spoke to about this in Cyprus.

2 of them told me that (with the non-domiciled status) you can trade stocks for youself in your own name and you pay only 2.65% tax for GESY up to 184.000€/year on your profits. One of these accountants was Deloitte.

1 accountant told me that there is a possibility that the tax authorities say you are a "professional trader", respectively your main income is from trading and because of this they will tax you with income tax.

I don't know what is true.

ok, so another accountant just told me that no tax. no self employment. so i have two accountants disagreeing with each other. you have two that say no tax and one maybe. so that is 3 no tax, 1 tax, 1 maybe. i can't even... :D

to quote:
Trading of securities is outside the scope for vat -> no tax. You can register voluntarily for social securities in order to also have access to the national health care system. If you wish to trade as unemployed, this is fine, we would also have to prepare and submit for you your annual tax returns each year showing your tax free profits from trading of securities.

and when asked about the necessity of trading through a company
Trading of securities is outside the scope for vat -> no tax. We have tax rulings stating this. We can also get a tax ruling for you verifying this.

oh, don't forget mr CyprusLaw that says pro-tax so that is 3 no tax, 2 tax, 1 maybe.
 
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