4 ms·

Cyprus gives you access to the EU while being a tax haven. https://www.vox.com/recode/2020/11/9/21547055/eric-schmidt-google-citizen-cyprus-european-union http

Cyprus gives you access to the EU while being a tax haven. https://www.vox.com/recode/2020/11/9/21547055/eric-schmidt-google-citizen-cyprus-european-union https://www.vox.com/recode/2020/11/9/21547055/eric-schmidt-g...

pjerem 5y ago
Well, you know that you pay taxes on the country you live & work in ? So you have to find a job and a house in Cyprus. And on top of that, Cyprus is one of the few european countries that are not yet in the Schengen area. So you'll have to stay on the tiny 9,251 Square Kilometers.
- alephnan 5y ago
  > So you have to find a job and a house in Cyprus I think Eric Schmidt can afford that > you know that you pay taxes on the country you live & work in Yes, I know this. I live abroad. Yes, every country has taxes. The tax rates are not the same. Additionally, countries like Singapore have zero capital gains tax. Executives can just take a symbolic job and pay themselves a symbolic salary, but they're not getting rich off their salaries
- cblconfederate 5y ago
  Ehm, you can travel to all of EU, the only thing that changes is you stand on a different line in the airport
  - iso1631 5y ago
    Not just travel - many people can travel to all of the EU. A Cyprus citizen has the right to live and work anywhere in the EU.
    - cblconfederate 5y ago
      correct. you re not in any way confined to the island
- _0ffh 5y ago
  > you'll have to stay on the tiny 9,251 Square Kilometers No you won't, you'll just have to pass a border control whenever you leave or re-enter the country. That's hardly a huge hindrance, unless you're wanted.
- TacticalCoder 5y ago
  > Well, you know that you pay taxes on the country you live & work in ? So you have to find a job and a house in Cyprus. Remote work? Or own a foreign company and pay yourself in dividends? These are extremely common cases. > And on top of that, Cyprus is one of the few european countries that are not yet in the Schengen area. So you'll have to stay on the tiny 9,251 Square Kilometers. That's not how Schengen works: Schengen is about being able to freely travel in the Schengen area without having to even show your passport / national ID card. For example I regularly cross borders, by car, between Belgium, France, Spain, Monaco and Andorra (Monaco is Schengen while Andorra, wonderful place on earth btw, is not, but Andorra has got agreements for free travel with France and Spain anyway) and I've never been asked my ID once. Heck, lately I've always been doing my PCR tests, as officially required due to the sars-cov-2 restrictions, and although it's mandatory to cross borders I've never been asked to show them. A passport from Cyprus allows you to travel, without the need for a visa, to most countries in the world if I'm not mistaken. The thing is: because Cyprus is an island you'll very often be flying to/from there and you'll have to show your passport. But you're definitely not stuck on the island.
cblconfederate 5y ago
It's no different than ireland (same % taxation), are they both tax havens? Cyprus is not on the OECD tax havens list for years, and in fact are considered a rather safe choice, hence the rise in popularity of their residence/citizenship programs (and their fees)
- alephnan 5y ago
  > It's no different than ireland (same % taxation), are they both tax havens? Any country can be a tax haven if you're not already living there and rich enough to negotiate special terms. Greece and Cyprus offers citizenship-by-investment, and there are many ways wealthy people can 'invest' in the same way they do 'philanthropy'.
  - cblconfederate 5y ago
    greece does not offer citizenship-by-investment (and cyprus' program has been suspended)
4r4r4r 5y ago
Cyprus! Hilarious. My bank account's got robbed by European Commission. Over 700k is lost. March 28, 2013, 06:00:15 PM https://bitcointalk.org/index.php?topic=160292 https://bitcointalk.org/index.php?topic=160292 P.S. The worst thing is, that even a month ago I was suspecting that things can go wrong. In February, I several times called my banker and lawyer and asked them if money on the account is safe, mentioning that article in Financial Times. But they convinced me that there is no reason to worry, and even if country goes default, in no way current accounts may be affected. "This is European Union and banks here can't just grab your money and go" I was told. I got a hard lesson and now I know the meaning of phrase "TRUST NO ONE". The rest of the money (100k EUR) are still subject to Capital Control and we can only transfer 5K monthly. Today I had a conversation with a manager from Laiki Bank. He has been honest and confirmed that we may forget about anything over 100K as it's already spent to pay country's debts. Also, I was warned that the financial situation in the country is getting worse and worse and we should be ready to lose even part of insured (under 100K) money during this year (this is why they keep capital control enforced). By the way, this style of "bank restructuring" is going to be adopted in the whole European Union. Soon, everyone's uninsured money (over 100K EUR) in EU banks will be at risk of seizure.

pjerem 5y ago

Well, you know that you pay taxes on the country you live & work in ? So you have to find a job and a house in Cyprus. And on top of that, Cyprus is one of the few european countries that are not yet in the Schengen area. So you'll have to stay on the tiny 9,251 Square Kilometers.

alephnan 5y ago
> So you have to find a job and a house in Cyprus I think Eric Schmidt can afford that > you know that you pay taxes on the country you live & work in Yes, I know this. I live abroad. Yes, every country has taxes. The tax rates are not the same. Additionally, countries like Singapore have zero capital gains tax. Executives can just take a symbolic job and pay themselves a symbolic salary, but they're not getting rich off their salaries
cblconfederate 5y ago
Ehm, you can travel to all of EU, the only thing that changes is you stand on a different line in the airport
- iso1631 5y ago
  Not just travel - many people can travel to all of the EU. A Cyprus citizen has the right to live and work anywhere in the EU.
  - cblconfederate 5y ago
    correct. you re not in any way confined to the island
_0ffh 5y ago
> you'll have to stay on the tiny 9,251 Square Kilometers No you won't, you'll just have to pass a border control whenever you leave or re-enter the country. That's hardly a huge hindrance, unless you're wanted.
TacticalCoder 5y ago
> Well, you know that you pay taxes on the country you live & work in ? So you have to find a job and a house in Cyprus. Remote work? Or own a foreign company and pay yourself in dividends? These are extremely common cases. > And on top of that, Cyprus is one of the few european countries that are not yet in the Schengen area. So you'll have to stay on the tiny 9,251 Square Kilometers. That's not how Schengen works: Schengen is about being able to freely travel in the Schengen area without having to even show your passport / national ID card. For example I regularly cross borders, by car, between Belgium, France, Spain, Monaco and Andorra (Monaco is Schengen while Andorra, wonderful place on earth btw, is not, but Andorra has got agreements for free travel with France and Spain anyway) and I've never been asked my ID once. Heck, lately I've always been doing my PCR tests, as officially required due to the sars-cov-2 restrictions, and although it's mandatory to cross borders I've never been asked to show them. A passport from Cyprus allows you to travel, without the need for a visa, to most countries in the world if I'm not mistaken. The thing is: because Cyprus is an island you'll very often be flying to/from there and you'll have to show your passport. But you're definitely not stuck on the island.

cblconfederate 5y ago

It's no different than ireland (same % taxation), are they both tax havens? Cyprus is not on the OECD tax havens list for years, and in fact are considered a rather safe choice, hence the rise in popularity of their residence/citizenship programs (and their fees)

alephnan 5y ago
> It's no different than ireland (same % taxation), are they both tax havens? Any country can be a tax haven if you're not already living there and rich enough to negotiate special terms. Greece and Cyprus offers citizenship-by-investment, and there are many ways wealthy people can 'invest' in the same way they do 'philanthropy'.
- cblconfederate 5y ago
  greece does not offer citizenship-by-investment (and cyprus' program has been suspended)

4r4r4r 5y ago

Cyprus! Hilarious. My bank account's got robbed by European Commission. Over 700k is lost. March 28, 2013, 06:00:15 PM https://bitcointalk.org/index.php?topic=160292 https://bitcointalk.org/index.php?topic=160292 P.S. The worst thing is, that even a month ago I was suspecting that things can go wrong. In February, I several times called my banker and lawyer and asked them if money on the account is safe, mentioning that article in Financial Times. But they convinced me that there is no reason to worry, and even if country goes default, in no way current accounts may be affected. "This is European Union and banks here can't just grab your money and go" I was told. I got a hard lesson and now I know the meaning of phrase "TRUST NO ONE". The rest of the money (100k EUR) are still subject to Capital Control and we can only transfer 5K monthly. Today I had a conversation with a manager from Laiki Bank. He has been honest and confirmed that we may forget about anything over 100K as it's already spent to pay country's debts. Also, I was warned that the financial situation in the country is getting worse and worse and we should be ready to lose even part of insured (under 100K) money during this year (this is why they keep capital control enforced). By the way, this style of "bank restructuring" is going to be adopted in the whole European Union. Soon, everyone's uninsured money (over 100K EUR) in EU banks will be at risk of seizure.