| Are there any other tax advantages? Cyprus has double-taxation agreements with many countries, including the UK, so you do not have to pay income tax in both countries. Will I have to pay tax on my pension? Retirees who become residents in Cyprus are taxed on their pensions from abroad at the rate of 5% for amounts exceeding £2,000 annually What is the procedure for obtaining temporary residency? Aplication forms are available from the local immigration offices. Once the forms are complete you need to return to immigration and take with you a copy of your sales contract, CY£20 application processing fee, a letter of guarantee of CY£300 from your bank, a letter from your bank confirming that you hold an external funds account and three passport photographs. |
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