# Moving to Cyprus - advice sought



## MichaelCyprus (Oct 15, 2016)

Hello to all

My name is Michael - and I’m hoping to get some advice/help 

My partner and I currently live in Dorset and we are planning to move to Cyprus next year - one of the items we are looking at is the Temporary Residence Employment (TRE) permit . We have looked online for advice and can see you need to apply for this if you plan stay after 90 days. When we move we will both be pre-retirement and plan to use a work pension and savings as proof of being self-sufficient. We are looking at either renting or buying.

The issue is trying to find out the level of funds/income be able to show self-sufficiency, as we know that is a requirement (evidence of income or financial self-sufficiency). The information on this varies depending on which web site you look at.

We also know that when applying for the TRE you need to select a category – for us we think it would be Category F - One web site comments:

•	Category F – Not working (e.g. retired).
For a Category F permit, you’re required to prove that you can support yourself financially, and you won’t be allowed to do work of any kind once you have this type of permit. The official wording is: ‘Persons who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without [their] having to engage in any business, trade or profession
•	Evidence of income or financial self-sufficency, including bank statements from a bank in Cyprus showing average balance or pension payments, where appropriate. Note that your annual income should be in the region of CY£6,000 per person, plus around CY£3,000 for each dependent person, although there are no set limits and each case is considered on its own merits.

The above information may be out of date.

Our questions are:

1.	Can we use our savings as evidence of self-sufficiency ? i.e. can we use a combination of savings and pension income, if yes, what are the minimum levels. Would help to know who to contact so we can get accurate/correct info on this topic – that way we can plan ahead

2.	If we apply under Category F (i.e. not working) can we change this if one us finds work? i.e. can we get a different permit ? 

Hope you can help – even if it’s signposting us to an accurate source where we can find out / ask the questions	

Thank you

Michael


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## Veronica (Apr 5, 2008)

Category F permits relate to non EU citizens who are purchasing a property in order to gain Permanent residency in Cyprus.
As EU citizens this category does not apply to you.
You just need to go to the immigration department within 90 days of arrival and apply for an appointment. You will told which documents you need to bring to the appointment. 
As long as you can prove you have enough income, either through pensions or investments etc and you have a basic health insurance in place you will be given a residence permit. 

We don't know yet what will happen once the UK is no longer an EU member but I suspect not much will change.


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## MichaelCyprus (Oct 15, 2016)

Thank you Veronica, much appreciated - that makes sense now. I will liaise with the Cypriot Embassy in London to try and find out the levels of income/investment to show self-sufficiency. We are keen to make sure of this - especially as we plan to buy a property.

Kind regards
Michael


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## Veronica (Apr 5, 2008)

It is advantageous to deregister for tax in the UK and register to pay tax here in Cyprus.

Taxation

In Cyprus you can choose one of two taxation methods. You can choose to go with the personal allowance of 19.500euros before tax or you can choose to pay 5% on all of your income if you have large pensions and income from investments etc.

Therefore most British retirees who have only their UK government pension will pay no tax at all if they choose the personal allowance. Those who have extra income from personal pensions, investments etc can decide which method to choose depending on which works out most beneficial for them. Below is a table of taxation rates.

– up to EUR19,500 nil

– from EUR19,501-28,000 20%

– from EUR28,001-36,300 25%

– above EUR36,300 30%

In order to qualify you will only need to live in Cyprus for a minimum of 183 days per year. Another advantage is the fact that the inheritance tax in Cyprus has been abolished


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## marmic (Aug 20, 2016)

Thanks Veronica 
As we shall be renting in Cyprus next year this is really helpful!


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