Relocating to a new country

Background scenario:

A private client was introduced to Mann Made Group who had recently relocated from the UK to Cyprus to avoid paying high UK personal taxation on his online business which he could operate from anywhere. The client had received detailed UK tax advice before leaving the UK.

Client’s objectives:

The client wanted to set up a Cyprus company and to formalise his residency and tax status in Cyprus.

Mann Made’s services:

Following advice from Mann Made, a Cyprus company was incorporated by Mann Made Cyprus who then arranged his employment and prepared the necessary employment contract. Registration for Social security then allowed the client to apply for residency status. This then allowed Mann Made to arrange his tax registration and registration as a Cyprus non-domiciled person.

The benefits the client now receives as a consequence are:
• 50 percent tax exemption on income tax as a director of a Cyprus company
• 100 percent tax exemption on dividends received from his Cyprus (and other) company(ies).
• 100 percent tax exemption on any future capital gains

If you are looking to relocate to a new jurisdiction then Mann Made can help you consider the best tax options in terms of how to leave your current country and how to move to your location of choice in the most tax efficient way.