Malta vs Cyprus
- Thread starter GrumpyMess
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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, such as an inheritance or the proceeds fromt he sale of capital assets, they will be regarded as remittances of capital.
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 are much better investment options than buying there cars or property, so it doesn't concern me.
It's a completely illegal thing
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 cant enter Schengen through Turkey, as that will be logged i guess.
Last edited: Feb 8, 2024
What is illegal? To go to the Turkish side, fly away and return the opposite way? Nothing illegal
Why do you need a source? not everything is written in posts, articles etc... I crossed this border several times last week back and forth
You can't enter Schengen without logging even from the southern side...
No worries, i checked and confirmed this. Good solution to officially stay inside Cyprus while travelling outside schengen.
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
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.
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-Turkish passport. If it would illegal, then would the ROC border guards allow me in and out 6 times a day?
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.
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This is the probably the answer to your question.
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 away and come back to Larnaca via plane. And I was talking only about the 60-day rule for residency...
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 not want to spend even a week on the island.
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
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?
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
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.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
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.
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