Living in Cyprus for digital nomads: Pros and cons

Learn more about living in Cyprus for digital nomads - what are the benefits and the downsides and whether you should do it.
Is Cyprus a good place to live for digital nomads and entrepreneurs?
Andrew discusses service quality, accessibility, food, living standard, internet speeds, English proficiency, and more in this onshore tax haven.
Cyprus has a pretty low corporate tax rate, especially according EU standards, but that doesn't necessarily mean that personal income tax rates are low.
And if you decide to live in Cyprus, personal income tax of up to 35% could apply to you.
Cyprus has potential as a low-tax haven, but only if you run your business from there, not if you're living there long-term.
When it comes to stuff you can see and enjoy, there's something for everyone, and beach lovers will particularly enjoy Cyprus.
Thanks to Cyprus citizenship by investment program, you'll find plenty of Chinese and Russians there, and there's a diversity of people living there.
But what do you find when you venture out of upscale areas? What's the landscape and food like?
Watch the video to the end to get more interesting tidbits.
Subscribe to our channel and stay tuned for more videos and information about second passports, offshore strategy, reducing your taxes and going where you're treated best.
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ABOUT NOMAD CAPITALIST
Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.
Andrew started Nomad Capitalist to help people like you follow his five magic words: "go where you're treated best". He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.
He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.
As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.
Nomad Capitalist's KZread channel is based on Andrew's vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.
About Andrew: nomadcapitalist.com/about/
Our website: nomadcapitalist.com
Our blog: nomadcapitalist.com/blog/
Work with Andrew: holanomad.com/

Пікірлер: 85

  • @peterfischer7084
    @peterfischer70843 жыл бұрын

    I can't believe you failed to mention the non-domiciled residence program which exempts you from taxation for 17 years. Or that you forgot to mention that there is no income tax on dividends or interest (only a 17% defense contribution after your initial 17 years).

  • @gdaaps

    @gdaaps

    2 жыл бұрын

    Maybe that wasn't available yet at the time of video. Do you have any more information?

  • @untitled001tm

    @untitled001tm

    3 ай бұрын

    ⁠@@gdaaps I definitely would like to know as well. 👍🏼

  • @TheJagjr4450
    @TheJagjr44506 жыл бұрын

    WIND noise is horrible...

  • @didierdenice7456

    @didierdenice7456

    5 жыл бұрын

    In Cyprus it's either windy or... very windy... ...and all year round !

  • @vimalcurio

    @vimalcurio

    3 жыл бұрын

    @@didierdenice7456 wow I love that kind of weather

  • @zzyzx686
    @zzyzx6867 жыл бұрын

    Interesting video. I was watching it because I speak Greek almost as well as English, and Cyprus is close to Lebanon, another country I like, but where it is hard to obtain residency. Please continue your interesting posts. It is definitely time for me to get out of the U.S., my Swiss bank account has been closed because of FATCA despite the fact that I am not even a U.S. citizen and do have a Swiss passport.

  • @marieaustin10
    @marieaustin107 жыл бұрын

    Thank you so much for sharing your story and experiences. I am learning so much from your videos and from other travel youtubers. I just quit my job and have began my adventures as a digital nomad! I'm so excited :D I am making videos sharing my journey too! I want to prove that anyone can do it! :D Best of luck for 2017, I hope your year is full of travels and exciting moments :D

  • @genstian
    @genstian7 жыл бұрын

    Bad internet is somewhat common in all of the european islands is it not? While cablenet in Cypros gives you 150Mb download, just 8mbit upload for 99 euro. Melita offers 100/6 in Malta for 55euro (And don't list upload on their 250mbit line). The greek islands is no better.

  • @improver1849

    @improver1849

    7 жыл бұрын

    Stian Andreassen That's not much slower than what you get on the Apple Campus in Silicon Valley, where I measured 180 down. I don't remember the upload speed, although I hope it was higher.

  • @infiltr80r
    @infiltr80r3 жыл бұрын

    Tax situation seems to be different if you don't remit to Cyprus or have a non-Cypriot company elsewhere. Income taxes for non-domiciled are different especially when earned elsewhere.

  • @danielthomas9673
    @danielthomas96733 жыл бұрын

    Non Domicile status can make a big difference for income generated outside of Cyprus, if you are tax resident in Cyprus but have personal income from outside Cyprus then if you are a non domicle status then you only pay income tax on money you bring to Cyprus. Read up about non domicle status, most foreigners will be eligible.

  • @Vee_cz_
    @Vee_cz_5 жыл бұрын

    Hey Andrew, great video! Could you make video about tax benefits or how lower yiur tax by set up company in Czech Republic?

  • @nimaakbari1565
    @nimaakbari15656 жыл бұрын

    The gulf? Which gulf do you mean?

  • @blueisland24

    @blueisland24

    6 жыл бұрын

    Persian Gulf

  • @Coolrockman89
    @Coolrockman892 жыл бұрын

    The audio my friend, is blowing in the wind

  • @M5S
    @M5S5 жыл бұрын

    You captured the digital nomad living at Cyprus damn well. We moved there from Sweden and lived by the ocean right outside of Paphos for a year and half. We will come back. Friendly locals and loads of brits, dutch and some canadians. We had a phone/internet subscription from a Norwegian company, worked out very well, 100Gb/month -also with unlimited domestic phone calls as well as to Swe. The island is way more built up then Greece, the roads and houses etc. (and some aren´t) People are very nice and laid back. A very good combination of traditional Mediterranean lifestyle/cuisine and the western world life (thanks to UK) with a bit unusual US junk food (for Swedes like us) such as Dominos, Cinnabon etc. Also very easy to establish a living and work within EU -this with a perfect climate!

  • @heww3960

    @heww3960

    4 жыл бұрын

    Iam thinking about moving to cyprus, but my biggest concern is huge spiders? How likely is it that i will see one in my apartment? Also are there alot of stray dogs?

  • @chrisucl

    @chrisucl

    4 жыл бұрын

    @@heww3960 you don't really see them in the cities. I lived there for 20 years and only saw the local big spider 3 times, all outside the house. Also they aren't that big. They are about 4cm body length, so a lot smaller than the UK cardinal spider. To be honest, I wouldn't say that spiders are a problem in Cyprus, especially if you live in the cities. Perhaps more in rural environments. Cockroaches and ants are more common, but they are much smaller than USA equivalents and they are very easily dealt with. No, there aren't many stray dogs, unlike Greece. Though locals are known to simply let dogs off their hook. For me, the most annoying insect which is very is the mosquito, though luckily they don't carry malaria or yellow fever. Just annoying bites. I wouldn't say the animals here are worse than anywhere else in the Mediterranean.

  • @micomarinas2753

    @micomarinas2753

    4 жыл бұрын

    what's the speed of internet in cyprus? do they offer unlimited data/internet surfing?

  • @yiannishadjiloizou5501

    @yiannishadjiloizou5501

    Жыл бұрын

    @@heww3960 did you moved finally to Cyprus? I'm sure your fear about spiders&dogs has dissapeared!

  • @yiannishadjiloizou5501

    @yiannishadjiloizou5501

    Жыл бұрын

    @@micomarinas2753 yes 5G also

  • @MrJaykay660
    @MrJaykay6605 жыл бұрын

    Put a sock on your mic .

  • @vimalcurio
    @vimalcurio3 жыл бұрын

    What if you not pay from your income lol what if you spend money through your dividends?

  • @franciscolista376
    @franciscolista3764 жыл бұрын

    With 1.400€ for one person is possible to live there? I mean paying room , food, transport.. like normal worker life

  • @psyvatordarkpsy5284

    @psyvatordarkpsy5284

    4 жыл бұрын

    yes it is, but it depends from the city that you will live.From example limassol is the best city but for renting 1 bed apartment you'll need ~700 euro. Having a car is cheap tho.

  • @franciscolista376

    @franciscolista376

    4 жыл бұрын

    @@psyvatordarkpsy5284 how about Limassol?

  • @psyvatordarkpsy5284

    @psyvatordarkpsy5284

    4 жыл бұрын

    @@franciscolista376 i just told you

  • @franciscolista376

    @franciscolista376

    4 жыл бұрын

    @@psyvatordarkpsy5284 thanks

  • @heww3960
    @heww39604 жыл бұрын

    My biggest concern is huge spiders? How likely is it that i will see one in my apartment? Also are there alot of stray dogs?

  • @lukeedwards4128

    @lukeedwards4128

    4 жыл бұрын

    Hew W I lived in Limmasol for a year and never saw any spiders not even normal ones only up to the villages I saw them. For stray dogs I think some areas have more than others but as a whole there isn’t loads, no

  • @noname89636
    @noname896367 жыл бұрын

    What kind of visa are you on since you are not working for a company? Do they offer some type of freelance visa for people from certain countries.

  • @improver1849

    @improver1849

    7 жыл бұрын

    prayl00185 You can always get for a visa from your own company. In fact, it's one of the easier ways of proving that you essential to the company. No version of you can be obtained locally when you are, indeed, not just the president or ceo, but the actual founder of the company.

  • @AMLCOrey

    @AMLCOrey

    4 жыл бұрын

    All EU citizens can come, rent, work and buy property or start a company. We have no limitations.

  • @OfoeNelson
    @OfoeNelson2 жыл бұрын

    Great video but we need more b roll next time :)

  • @XeNos3131
    @XeNos31315 жыл бұрын

    You do not pay ta for the first 19000€! The tax of 35% is payable on the amount earned above 19000€!

  • @filmawayvlad

    @filmawayvlad

    4 жыл бұрын

    Exactly

  • @heww3960

    @heww3960

    4 жыл бұрын

    From what i have leanr you still pay a 10% social service tax even if you earn lesser than that. Then the tax increase if you earn more.

  • @mikhailtzevelekos3083

    @mikhailtzevelekos3083

    4 жыл бұрын

    Hew W Not True

  • @miklmiklmtrcycl6009
    @miklmiklmtrcycl60094 жыл бұрын

    If you live in Cyprus and you love it so much you want to spend most of your year there, pay the taxes. It’s how community works.

  • @geo_best-Explorer
    @geo_best-Explorer5 жыл бұрын

    how about the corruption of the authorities?? Isn't this a problem to you?

  • @chrisucl

    @chrisucl

    4 жыл бұрын

    This doesn't affect most people in their daily lives, and is much better than other countries like Greece, and miles ahead of regional countries like Turkey, Lebanon etc.

  • @catsfan_M
    @catsfan_MАй бұрын

    Cyprus is 2nd world country with 1st world prices and has very high rate of tobacco smokers.

  • @jondeanpt
    @jondeanpt4 жыл бұрын

    English speaking free schools ?

  • @sebastianpapageorgiou2825

    @sebastianpapageorgiou2825

    3 жыл бұрын

    nah only private

  • @Frag1ty
    @Frag1ty7 жыл бұрын

    I'm in Cyprus right now too, Paphos more precisely. Totally agree about the poor internet :D 1Mbps up and download at home with a router

  • @PEYIAKID

    @PEYIAKID

    6 жыл бұрын

    I've lived in the Paphos area for 17 years, love it, I also get 20MB CYTA broadband and the thing is it is reliable this is more important.I ran a large forum with 8K membership, it the Internet was so bad I would have given 16 years ago, it is not slow.

  • @Alpha-gk6hd

    @Alpha-gk6hd

    6 жыл бұрын

    damn bro, my Internet is 70 download and 5 upload with cablenet

  • @micomarinas2753
    @micomarinas27534 жыл бұрын

    the cat at the back is looking for her lover, trying to attract female cats hahaha. it will be easy to go to switzerland live and work there using a cyprus passport. another great video from andrew! :)

  • @gabriel3.16
    @gabriel3.163 жыл бұрын

    What’s up with you tubers standing in wind with mics ?

  • @channel-gt1cb
    @channel-gt1cb4 жыл бұрын

    Locals are super xenophobic especially with influx of refugees and asylum seekers. Felt bad for an African friend of mine (a well-groomed General Surgeon from London) who was treated 'differently' especially by middle-aged and older generation. Interestingly the upper classes are anglophiles but lower classes blame the division of Cyprus on Brits and generally get moody around them. Another friend of mine was given the nickname 'Charlie' everywhere he went (especially in villages by old folk) which is a derogatory term for the English. So if you have a British accent be prepared for some uncomfortable political chats...best to ignore and quickly move on. It's a very 'closed' society and it has one of the highest prevalences of clinical depression in Europe. Unsurprisingly things here have deteriorated here a lot since 2013. Stay clear of Greek-Cypriots. Greeks from mainland are more composed and have a wider world view and generally seem more educated. ELAM, a right-wing party are on the up. Wouldn't advise non-Europeans buying citizenship here.

  • @aguafria9565

    @aguafria9565

    4 ай бұрын

    Clinical depression you say... And all that sunshine. Hard to fathom as someone living in Northern Finland.

  • @Kitteh-Playz
    @Kitteh-Playz6 жыл бұрын

    I suggest Troodos Mountains it's great

  • @nomadcapitalist

    @nomadcapitalist

    6 жыл бұрын

    Thanks for the suggestion :)

  • @joefernandez1759
    @joefernandez17596 жыл бұрын

    Cyprus gives me claustrophobia

  • @vimalcurio

    @vimalcurio

    3 жыл бұрын

    Lol. It's a beautiful place

  • @gdaaps

    @gdaaps

    2 жыл бұрын

    what about Malta

  • @yiannishadjiloizou5501

    @yiannishadjiloizou5501

    Жыл бұрын

    @@gdaaps if he feels claustrophobic in 9.300 Square km, imagine how he will feel in a 350 sq. Km rock area like Malta!!!

  • @gdaaps

    @gdaaps

    Жыл бұрын

    @@yiannishadjiloizou5501 Yes, I wanted to give him perspective

  • @aguafria9565

    @aguafria9565

    4 ай бұрын

    New Zealand gives me claustrophobia.

  • @jamezz34
    @jamezz347 жыл бұрын

    House prices crashed so hard there isn't much downside left. Then again I wouldn't invest in euros. Stick to Swiss francs!

  • @ChristophFluriHeckenbuecker

    @ChristophFluriHeckenbuecker

    7 жыл бұрын

    This is not correct. The bubble from 2008/2009 did not even burst for real. There are thousands of broken loans and the properties are now after many years coming on the market. Finally. This was because there a lot of legal stuff about it including the possibility for developers to have the right to distribute the properties themself for 5 years before the bank could even do somthing. This starts now. There is coming a lot more properties on the market in 2017 and later. That will effect the prices. The only place have more demand and more stable market is Limassol. The rest of the island is more or less in deep problems.

  • @improver1849

    @improver1849

    7 жыл бұрын

    Christoph Fluri-Heckenbuecker Great insight. Thanks for sharing this. Although, in cases where the properties have not been occupied or actively maintained, I'm not sure some will be in great shape (in terms of mold, bacteria, cyanotoxins & other moisture sensitive biotoxins) with the high humidity of Cyprus winters. I'd rather take the wear & tear of human residents, since at least they tend to maintain things and keep areas properly aerated. Any idea what the predominant building materials are in Cyprus?

  • @ChristophFluriHeckenbuecker

    @ChristophFluriHeckenbuecker

    7 жыл бұрын

    The buildings are mainly concrete building with wall from bricks. I live in a insulated house now. It is cool in the summer and warm in the winter. Regarding your concerns I do not see it so dramatic on the hygenic side. There are also complexes that have been maintained but were not sold. It is more in the quality of the buildings itself. You need to know the area to make a wise investment decision. I only buy as an investment and prices are not coming down to be low enough. I am dealing now a package of apartments that have very good quality and promise very good return of investment. Including seeview etc. But you have to be patience to get it right. Also important: You can not but with money from the island. The banks give only very bad condition and destroy any investment idea.

  • @gdaaps

    @gdaaps

    2 жыл бұрын

    what about now?

  • @ezraa.5914
    @ezraa.59144 жыл бұрын

    funny americans .. they think they are the center of the world 😃

  • @pussynakamoto3237
    @pussynakamoto32373 жыл бұрын

    you dunno

  • @mihailhidler5400
    @mihailhidler54003 жыл бұрын

    T H A T W I N D

  • @quintuplebanned4267
    @quintuplebanned42674 жыл бұрын

    Quality of life is lacking in Nicosia - very dirty; lots of litter, sadly neglected

  • @yiannishadjiloizou5501

    @yiannishadjiloizou5501

    Жыл бұрын

    Nicosia center is occupied by Africans, Asians, Eastern Europeans and other nomads due to low rent prices. This is the picture of Nicosia center today

  • @Envious122
    @Envious1223 жыл бұрын

    You want to get married? 😍