Monaco Relocation

[kkein]

You can do 2.65% total tax (just GESY) if you run a 0% tax offshore from Cyprus and bring in dividends as a non-dom. Keep in mind that this is not legal, just a law that is not (and probably will not be, for a long time) enforced.

Why not legal? If you are only UBO (or for example you only own shares from which you get dividends), what makes it illegal?

 

[ilke]

Why not legal? If you are only UBO (or for example you only own shares from which you get dividends), what makes it illegal?

I was talking about running it, not being a passive investor. If you are the UBO but not a director or involved in the actual activity, you don't create PE and shouldn't fall under CFC either - in that case, it would be legal.

The scenario I was mentioning was actually running the offshore company from Cyprus as there are not any enforced PE or CFC rules at the moment.

 

[saintjohnny]

Why did this thread become about Cyprus? Cyprus is a banged up 90s Toyota Corolla, Monaco is a Ferrari.

Before moving to Cyprus to pay 12.5% CIT + that other 2.65% (or whatever) tax, I’d pay 20% CIT in ANY decent country I actually like. Save up, and then move to a proper tax-friendly jurisdiction.

Better off staying in your first world country preserving your friends, family, your culture and way of life, which will in turn make you happy and productive – instead of getting depressed in the dump that is Cyprus.

Putting Monaco and Cyprus in the same sentence is blasphemous and ridiculous… and Monaco isn’t THAT far off (provided you’re not broke).

OP feel free to ask anything about Monaco. I just moved there.

 

[liroyb]

Why did this thread become about Cyprus? Cyprus is a banged up 90s Toyota Corolla, Monaco is a Ferrari.

Before moving to Cyprus to pay 12.5% CIT + that other 2.65% (or whatever) tax, I’d pay 20% CIT in ANY decent country I actually like. Save up, and then move to a proper tax-friendly jurisdiction.

Better off staying in your first world country preserving your friends, family, your culture and way of life, which will in turn make you happy and productive – instead of getting depressed in the dump that is Cyprus.

Putting Monaco and Cyprus in the same sentence is blasphemous and ridiculous… and Monaco isn’t THAT far off (provided you’re not broke).

OP feel free to ask anything about Monaco. I just moved there.

Thanks for commenting, I'll be there in 2 weeks.

Did you rent or buy?

How much did you had to deposit to get the attestation letter from the bank?

How long the process to obtain the residence card took?

 

[andorra]

what is your budget mounthly to live in monaco a decent life?

 

[saintjohnny]

Thanks for commenting, I'll be there in 2 weeks.

Did you rent or buy?

Rent.

How much did you had to deposit to get the attestation letter from the bank?

Luckily, I got in cheap (according to another forum member experienced in Monaco). But expect 1M min if you're coming without referrals.

How long the process to obtain the residence card took?

About 3 months.

 

[liroyb]

Rent.


Luckily, I got in cheap (according to another forum member experienced in Monaco). But expect 1M min if you're coming without referrals.


About 3 months.

Got a few more questions for you


Did you started with bank account opening, or with the property rental?

Once you've submitted the required documentation and booked appointment, how long did you had to wait for the interview with the police?

After the police interview, how long did you had to wait for your residence card to be processed?