Cyprus tax reform welcomes IT, Crypto and Digital Nomads

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cyprustax reformcrypto

The UK lost about 20k wealthy people last year due to its tax reform. Half flew to the UAE. Zero income tax. Zero questions

Cyprus? Was frozen for 22 years since it joined the EU club in 2004. It just rolled out the red carpet tax reform:

  • You are free of taxation if your income less than €22k/year
  • 8% Flat Tax on Crypto & ESOPs
  • 5% Dividend Tax slashed from 17%. To keep the local rich from running. Foreigners don’t pay dividend tax at all the first 17 years in the island. 17!

My startups are registered in Cyprus, and I like the reform 👍

What’s missing? Property tax. Still zero. That sounds like paradise until you walk Limassol and see the city center. Empty lots like missing teeth. Prime land is rotting. Elderly landowners are not motivated to sell/develop. The city is a museum of missed opportunities

#TaxReform #Cyprus #Limassol #Startups #Crypto #ESOP #DigitalNomads #Web3 #NomadLife #FinTech #Blockchain

Man in suit standing indoors, looking at a giant Earth view focused on the eastern Mediterranean — evokes Cyprus, mobility.
Header image: brand artwork showing a viewer overlooking the eastern Mediterranean; visual metaphor for mobility and tax migration.

Discussion

Maxim
8% in Cyprus is cheaper than 0% in the UAE 🙂
Randeep Gill
Nice! I may set up my startup there, what’s the dental landscape like. As someone born and bred in the UK. I have no idea why the UK keeps shooting itself in the foot.
Night
Randeep Gill
Nice! I may set up my startup there, what’s the dental landscape like. As someone born and bred in the UK. I have no idea why the UK keeps shooting itself in the foot.
It is all the big countries. The answer is because they can. My observation is that if a country is big taxes are big, if a county is small (and wants to get rich) taxes are small.
Randeep Gill
Night
It is all the big countries. The answer is because they can. My observation is that if a country is big taxes are big, if a county is small (and wants to get rich) taxes are small.
Fair point. Big countries can afford to extract but the irony is that talent and capital are more mobile than ever, so that old logic breaks faster now. From a dental and healthtech perspective, places like Cyprus or the UAE become interesting not just for tax, but for speed, regulatory clarity, and willingness to pilot new models. The UK still has incredible talent, it just keeps adding friction where other markets are removing it.
Night
Randeep Gill
Fair point. Big countries can afford to extract but the irony is that talent and capital are more mobile than ever, so that old logic breaks faster now. From a dental and healthtech perspective, places like Cyprus or the UAE become interesting not just for…
Frictions (regulations) are same as the big tax, again because they can. Elon actually suggested a sunset deadline for every regulation but they won't. And talent is not so mobile. Still 99% (not exact) lives in their country. Moving abroad can bring opportunities but also missing out so much. Missing out on taking care of parents, working at government jobs.. just so much to list. To me, it feels it is against nature to expect a big country to be agile. Probably only under war or fascism a big country can be efficient (not trying start an ideological fight).
Randeep Gill
No worries, I appreciate the conversation. I would say It depends what you mean by “big” is it GDP, or politically. I would say that UK was big as part of EU. Now it’s not so big in terms of political clout. There needs to be a balance of regulation and agility. It depends on political circumstances too. If you are isolated (self imposed) and need to grow, you need an innovative and entrepreneurial mindset. And make sure your major entrepreneurial wealth creating “class” don’t leave. Just my 2 cents.
Night
Randeep Gill
No worries, I appreciate the conversation. I would say It depends what you mean by “big” is it GDP, or politically. I would say that UK was big as part of EU. Now it’s not so big in terms of political clout. There needs to be a balance of regulation and…
For Europe it is 30 million. I think all countries above this level in Europe are abusing their citizens with taxes and regulations. For countries below this level, some are still abusive, for example Norway (thanks to oil). For Emirates, it is a fascinating country that seems to go against nature. How can you have oil money and still be hard-working? I just checked now and I found out that Dubai doesn't have oil, Abu Dhabi has 90% of it. Dubai relies on its own financials (except for national things like security and healtcare). Dubai pumps only 70k barrels a day. Which is only a little more than a billion dollar worth excluding extraction costs. So even Dubai's case is a case of motivation and whether a government can afford to get lazy. My solution for the UK: Another try at Scotland leave the union :)
Fuchu Render Webnwi
Wow really food
Prince Livingstone
No complaints at the moment
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