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Dividends as non dom in cyprus
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Access to healthcare is facilitated by paying social contributions on a salary or by being retired. You can pay yourself a minimal salary although it should be reasonably commensurate with your lifestyle.
We are talking overseas dividends here that you can receive as a non-dom at 2.65% Gesy payments only. The Cyprus company is set up for employment purposes only.
is 2.65% upto a max of 180k income, so about 5k.
in other words pay 5k for health insurance..... sounds good to me?
in other words pay 5k for health insurance..... sounds good to me?
Hi Everyone,
Just to add my 2 cents,
Dividends for non doms are not subject to tax but they are subject to the newly introduced Yesy contributions;
Another thing to consider is paying yourself a salary from your company, which would allow you a tax free amount of up to 19,500 Eur in annual salary. This essentially would be deducted from your profits as an expense so will not suffer the 12.5% corporate tax.
There may other options available for reducing the 12.5% corporate tax, but these require further planning and depend on your actual operation.
I hope this helps,
Good Luck!
Lawyer101
Just to add my 2 cents,
Dividends for non doms are not subject to tax but they are subject to the newly introduced Yesy contributions;
Another thing to consider is paying yourself a salary from your company, which would allow you a tax free amount of up to 19,500 Eur in annual salary. This essentially would be deducted from your profits as an expense so will not suffer the 12.5% corporate tax.
There may other options available for reducing the 12.5% corporate tax, but these require further planning and depend on your actual operation.
I hope this helps,
Good Luck!
Lawyer101
You can pay a salary but you will forkout this:
- 16.6% social security
- 1.2% redundancy
- 0.5% training & development
- 2.0% Special Cohesion Fund
- 4.75% NHS rates
Thanks orrange kangaroo for point that out. That is correct!
Having said that, these dues provide for a rather direct receiving of benefits since you can claim claim pension after some time, get a redundancy pay if you ever go bust or cannot work in the company+ free medical access.
Having said that, these dues provide for a rather direct receiving of benefits since you can claim claim pension after some time, get a redundancy pay if you ever go bust or cannot work in the company+ free medical access.
so if one has to pay GESY(healthcare) from dividends but is not allowed to get healthCARE from it, how is that legal? you pay for healthcare you cannot receive???? makes no sense. and i do not believe it. healthcare and social security are two very different things.
ok, it was just heliotrope in this trhead, who stated that multiple times. not multiple people.
For every natural person, the total maximum annual amount on which contributions will be paid is € 180,000.
so max gesy is about 4800 euro. WHich basically means you got health care for that ? so good deal?
so max gesy is about 4800 euro. WHich basically means you got health care for that ? so good deal?
Two different things are being confused.
You pay a 2.65% tax on dividends for the general upkeep of the health system. But this does not entitle you to (free) use of the health system. As for whether this is fair, people pay for plenty of things via their taxes for which they don't get a direct benefit. Do you expect a free stay in prison given that your taxes indirectly pay for their upkeep?
If you're retired, or paying social security contributions, you can︀ benefit from free health care.
You pay a 2.65% tax on dividends for the general upkeep of the health system. But this does not entitle you to (free) use of the health system. As for whether this is fair, people pay for plenty of things via their taxes for which they don't get a direct benefit. Do you expect a free stay in prison given that your taxes indirectly pay for their upkeep?
If you're retired, or paying social security contributions, you can︀ benefit from free health care.
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