I am looking for a residency for compliance reasons.

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piratechain

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I am looking for a residency for compliance reasons.

Formed a US LLC in Florida as non US resident.

-I still have a Yellowslip from Cyprus but sold my shares in the Cyprus company to other remaining shareholders.
-Tax ID from Cyprus is still available
-Can I get a utility bill now to show Cyprus residency?
-Or am I taxable in Cyprus with the US LLC, even if I am no longer living there?
 
I would say UAE is the best.
But also Thailand could be interesting, I think the 5 year visa was possible for a donation of 14.000$?
 
You have to keep in mind that a Visa is not needed for a residence for compliance reasons (Utility bill + Tax id).

Its only a residency to be compliant with banks and not to actual live there.
 
If you are not resident anywhere else, try to maintain your tax status in Cyprus.
What is your nationality?
 
beachftss said:
beachftss said:
What are the requirements for an European Union citizen to maintain tax residency in Cyprus?
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Tax residency is a factual matter. In general staying in the country for 183 days. There is also a faster route to satiafy the tax office which is to 1. remain in the country for at least 60 days but this requires that 2. you do not have a tax residency anywhere else abroad,3. that you do not reside abroad for more than 183 days and 4. have other defined ties, like a business presence , maintain a residential property owned or rented.
 
CyprusLawyer101 said:
CyprusLawyer101 said:
Tax residency is a factual matter. In general staying in the country for 183 days. There is also a faster route to satiafy the tax office which is to 1. remain in the country for at least 60 days but this requires that 2. you do not have a tax residency anywhere else abroad,3. that you do not reside abroad for more than 183 days and 4. have other defined ties, like a business presence , maintain a residential property owned or rented.
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So in this case where OP is a perpetual traveler and does not have a company, a utility bill from Cyprus is sufficient ties?
 
beachftss said:
beachftss said:
So in this case where OP is a perpetual traveler and does not have a company, a utility bill from Cyprus is sufficient ties?
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When suggesting that he tries to keep his tax residency , i have assumed based on his post, that he have previously established his tax residency in the country probably through the 60 day rule. So if he is nowhere else tax resident then he could very well keep submitting tax returns and paying taxes in Cyprus. As an EU citizen he has no visa entry exit issues so no practical issues there. The tax office will never push away anyone doing a self assessment and paying taxes in the country. Those requirements are only in case you wish to issue a certificate to be provided to authorities abroad or other third parties. Its not so that you are allowed to pay taxes in the country. Thats why I say tax residence is a factual matter and each case should be looked at its merits
 
CyprusLawyer101 said:
CyprusLawyer101 said:
When suggesting that he tries to keep his tax residency , i have assumed based on his post, that he have previously established his tax residency in the country probably through the 60 day rule. So if he is nowhere else tax resident then he could very well keep submitting tax returns and paying taxes in Cyprus. As an EU citizen he has no visa entry exit issues so no practical issues there. The tax office will never push away anyone doing a self assessment and paying taxes in the country. Those requirements are only in case you wish to issue a certificate to be provided to authorities abroad or other third parties. Its not so that you are allowed to pay taxes in the country. Thats why I say tax residence is a factual matter and each case should be looked at its merits
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Ok, so if I understand you right, as long as he doesn't trigger tax residency anywhere else or gets in trouble with authorities abroad, then he can just keep submitting tax returns in Cyprus. He won't even need a rental agreement or company or any other ties to Cyprus, since the tax office there is happy to take his money regardless. Is that correctly understood?
 
beachftss said:
beachftss said:
Ok, so if I understand you right, as long as he doesn't trigger tax residency anywhere else or gets in trouble with authorities abroad, then he can just keep submitting tax returns in Cyprus. He won't even need a rental agreement or company or any other ties to Cyprus, since the tax office there is happy to take his money regardless. Is that correctly
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Yes, but would be wise to keep a corresposning address where tax communications are being sent
 
bigdaddyleon said:
bigdaddyleon said:
I would say UAE is the best.
But also Thailand could be interesting, I think the 5 year visa was possible for a donation of 14.000$?
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Try 200$ they introduced a new 'traveller visa'.

FYI in Thailand, they do CRS to your home nation... if your home nation doesn't have you living in the nation, not entirely sure what happens to the information, but understand it does get reported.
 
@backpacker AED 650 for a 5 year multiple entry visa. 90 day visits, extendable while in UAE to 180. You need $4k in the bank and UAE health insurance.

https://www.khaleejtimes.com/visa-a...ry-tourist-visas-how-to-apply-who-is-eligible
Presumably no Ejari or route to banking so I think useless for OP, but if you don't need to prove non-residence to a former country and already have offshore banking it's a cheap way to live in Dubai.

I haven't found any mention of a yearly cap or a ban on visa runs.
 
wellington said:
wellington said:
Try 200$ they introduced a new 'traveller visa'.

FYI in Thailand, they do CRS to your home nation... if your home nation doesn't have you living in the nation, not entirely sure what happens to the information, but understand it does get reported.
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So don't keep your money in a Thai bank account.
 
khinkali said:
khinkali said:
@backpacker AED 650 for a 5 year multiple entry visa. 90 day visits, extendable while in UAE to 180. You need $4k in the bank and UAE health insurance.

https://www.khaleejtimes.com/visa-a...ry-tourist-visas-how-to-apply-who-is-eligible
Presumably no Ejari or route to banking so I think useless for OP, but if you don't need to prove non-residence to a former country and already have offshore banking it's a cheap way to live in Dubai.

I haven't found any mention of a yearly cap or a ban on visa runs.
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Thanks for the info.
I have to admit that I understood the post of @wellington (post #16) as if it was in reply to @bigdaddyleon (post #4) where the 5-year visa donation is mentioned.

wellington said:
wellington said:
FYI in Thailand, they do CRS to your home nation... if your home nation doesn't have you living in the nation, not entirely sure what happens to the information, but understand it does get reported.
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I posted a sample case over there -> Thailand [Tax Update] .
It would be interesting to know what happens in such a case: Do they report such a non-resident to his home country (i.e. passport country) or to the country of which the the bank has an adress on record (country of permanent residency)?
According to CRS they would have to report to the country of permanent residency but this being Thailand things might be more convoluted ....

Last edited: Oct 14, 2022
 
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