Malta vs Cyprus

[JimBeam]

In Cyprus you've got options to live in the country side where you can find rentals⁠ for less money. That's not really an option in Malta. It is on Gozo but⁤ there's not much happening and it won't be that cheaper.

Flats in Valletta are mostly very old (couple︁ hundred years old). There are basically no new buildings in Valletta. Those that are available︂ for rent are renovated and prices are quite high and are mostly rented to tourist︃ as short-term rentals. Also, as mentioned earlier - expats just don't live there.

Correct, but what if after a couple of years you︆ decide to buy a property there? Or to buy a nice car?
You can't do︇ that with 3k/month where the rent 1.200/month + 416 tax (5k/12) take you more than︈ half of the money.

 

[lacomaco]

You could go over to the Turkish side, fly from Ercan to wherever you want,‌ no stamps are used, Cypriot tax people do not have access to the border crossing‍ data, so to show 60 days is fairly easy...

 

[MarkusCostigan]

Remittance from capital gain are tax free.

And,

When remittances are made for a capital purpose, such as the purchase of property in Malta,︃ and the individual can show that they originate from moneys held abroad as capital, such︄ as an inheritance or the proceeds fromt he sale of capital assets, they will be︅ regarded as remittances of capital.

 

[GrumpyMess]

I've checked Sliema and⁤ St. Julian's, the options are much better than in Limmasol. Looks like I'm defending Malta,⁣ but I really can't find a decent apartment in Cyprus for 1500. There are options⁢ in Pathos/Larnaca, but I don’t want to live there.

There are︃ much better investment options than buying there cars or property, so it doesn't concern me.︄

It's a completely illegal thing

 

[Dandyline]

Source?

Thats actually pretty smart. I wonder if they even log⁢ entries and exits of EU citizens in Cyprus overall.

Only issue is that you cant︀ enter Schengen through Turkey, as that will be logged i guess.

 

[lacomaco]

What is illegal? To go⁣ to the Turkish side, fly away and return the opposite way? Nothing illegal

Why do you need a︂ source? not everything is written in posts, articles etc... I crossed this border several times︃ last week back and forth

You can't enter Schengen without logging even from the southern side...

 

[Dandyline]

No worries, i checked and confirmed this. Good solution to officially stay inside Cyprus while travelling⁤ outside schengen.

 

[GrumpyMess]

The legal points of entry to the‍ Republic of Cyprus are the intenational airports of Larnaca and Paphos and the ports of⁠ Larnaca, Limassol, Latsi and Paphos, which are situated in the area under the effective control⁤ of the Government of the Republic of Cyprus. Entry to the territory of the Republic⁣ of Cyprus via any other port or airport in the area of Cyprus in which⁢ the Government of the Republic does not exercise effective control (Turkish occupied area) is illegal.︀

https://mfa.gov.cy/important-information-concerning-travel-to-occupied-area.html

 

[JimBeam]

I also find apartments in Malta much nicer than in Cyprus!
They look more modern and better designed.

I bet⁣ there are! But buying a car is never investment - it's always an expense and⁢ you buy one because you need it to take you places.

 

[lacomaco]

The Ledra⁢ street pedestrian crossing and the Ledra Palace car crossings are open, you could go there,︀ they let me through without any restrictions, just needed to show my non-Cypriot and non-Turkish︁ passport. If it would illegal, then would the ROC border guards allow me in and︂ out 6 times a day?

 

[Sols]

It's technically illegal⁤ for third nationals to enter Cyprus, exit via TRNC, and then enter Cyprus. When the⁣ immigration officer scans your passport and see you have an entry without an exit and⁢ are now attempting to enter again, you can run into issues.

 

[lacomaco]

Of course you should intelligent to return on the same route⁤ you left. 1. Landing LCA 2. Cosssing at Ledra St 3. Flyining away from Ercan⁣ 4. Returning to Ercan 5. Crossing Ledra st 6. Leaving via LCA. What is the⁢ problem with it? You must be a fool to leave to the NTRC, fly away︀ and come back to Larnaca via plane. And I was talking only about the 60-day︁ rule for residency...

 

[GrumpyMess]

Yes, but in case of Cyprus/Malta unless someone is going to spend a whole year there‍ leasing is always more beneficial. 400 € monthly and you don't care about insurance, breakdowns,⁠ etc.

They can't control⁤ departure from the northern part of the island but this does not make the route⁣ legal. On the other hand, I doubt that there could be problems until they find⁢ a way to control it. And this is a solution for those who do not︀ want to spend even a week on the island.

 

[GrumpyMess]

I deepened a little into the topic, almost all of the income, except for passive‌ can be considered as Maltese sourced, for example stock trading. That's the tax office answer,‍ so even if they do not control this, it does not make it legal. Therefore,⁠ I completely reject this country for a future residence

 

[10101]

How is that possible when you stay only 6 months there and do your business activities⁤ outside? Can you share the answer of the tax office?

 

[GrumpyMess]

No problem if you do your business activities outside, but let's be honest, no⁠ one is going to chill 6 months on a tiny island without doing business. And⁤ if we are talking about passive income there are much more interesting places in Europe.⁣ Their remittance basis is a joke

 

[dandiskahn]

Why do you think it's⁤ a joke? I'm interested in the topic

 

[EliasIT]

I have been to both Cyprus and Malta, but the idea of being on an‌ island is just not for me; it complicates things if you need to quickly visit‍ some city, for example, in the rest of Europe, or if you have family around.⁠

 

[Marshal]

Agree. It's a nice place for a short holiday, but⁤ to live there permanently, even if it's just half a year, is a bit overwhelming.⁣