Real Enquiry: I’m looking to setup as a non-dom in Cyprus and will have Cryptos Gains - how will i be taxed?

One of the main reasons I’m interested in the Cyprus non-dom status is if I can cash out/ sell my crypto assets to €’s which I have been holding for several years. 

Hi,

I’m looking to setup as a non-dom in Cyprus.

My income comes from a UK Ltd company which is around £50,000-£100,000 per year.

My tax residency is currently Spain, but I want to leave the country.

One of the main reasons I’m interested in the Cyprus non-dom status is if I can cash out/ sell my crypto assets to €’s which I have been holding for several years. 

I realise for the non-dom status I would need to spend 60 days within the country per year and rent or purchase a property.

My question is would the crypto profits be taxed at 0%? I keep reading conflicting things on different lawyer websites.

How much are you fees for this setup? And annual accounting?

Thank you

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Hi XXX

We specialise on the matter! 

Crypto disposal is usually taxed at a personal level, if you hold them as a person (see table here) or corporation tax rate of 12.5% only, if a Cyprus Company disposes of them. 

The only way to avoid paying the Corporation Tax via Company or Personal Tax (if you sell them as a person) is if you prove that you have inherited them or if you prove that you are not a trader. We can get a tax ruling for this for a fee.

Should you wish more guidance and clarification on the matter we can consult you at Euro 300 + VAT until all your enquiries are resolved.

More on the matter - Read Relevant Articles:

• Article 1
• Article 2
• Article 3
• Video 1
• Article 4

Fees Requested

• Company formation: Euro 1,650 + VAT
• Accounting, audit, tax: - see standardised price lists here

If the above fees and explanation is within your budget etc we can arrange a call to determine next steps

At your convenience,

CYAUSE Team