Will You Leave In the Way you Want? Or Will Law of Succession Decide for You?
Sam Orgill www.proactpartnership.com How Do You Want To Leave This World ? Laws of Succession and Estates can limit your chooses once your gone
When you make a Will you are setting out how your accumulated processions, assets and wealth are to be passed on and who to. You could create legacies for the good of family down the generations, or through charities that you support. You can also choose your funeral service.
These choice are available during your lifetime, but not always on death. as you wish.
Who Will you Trust? What Control Do You Have? Does EU Brexit Impact?
Read the Full Article What Will You Wish For? Cremation V Burial
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Very Moveable Property Tax Savings
Confirming the Cyprus Property Tax Savings for 2016 and More
Sam Orgill www.proactpartnership.com
In Cyprus the Tax payment year starts on 1st July, for the current calendar year. Around the start of June a budget and tax changes for the current year 2016 is proposed – with the idea that changes are passed to law by the end of June.
In 2016 we have the culmination and possible resolution of Cyprus Property Tax changes – but not as you imagined, or was proposed in 2016, 2015 or 2014. A fierce debate has raged in parliament and delayed voting until well into July, the outcome of the long term property tax plan is a further sign of the Cyprus government intention.
The very Movable solution are big immovable property tax savings for expats owning overseas property in Cyprus. You will be astonished at the changes in annual property taxes and title deed taxes.
Tax Saving Surprise - Very Moveable Property Tax Savings
Very Moveable Property Tax Savings
Confirming the Cyprus Property Taxes and Savings for 2016 and More
In 2016 we have the culmination and possible resolution of Cyprus Property Tax changes - but not as you imagined, or was proposed in 2016, 2015 or 2014. A fierce debate has raged in parliament and delayed voting until well into July, the outcome of the long term property tax plan is a further sign of the Cyprus government intention.
The very Movable Property TAx solution mean big i tax savings for expats owning overseas property in Cyprus.
You will be astonished at the changes in annual property taxes and title deed taxes.
Read the Full Article Very Movable Property Tax Savings
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Share this email with a friend if they may be interested in EU Brexit for Expats
Game of Thrones: Who Has a Claim to Your Possession?
Sam Orgill of ProACT Partnership on latest Developments in the Game of Getting Title Deed for Cyprus Property
The changes in Cyprus in 2015 allow the land registry to issue title deeds to holders of contract of sale. This changed the dynamics between claimants to the title, and the new rules have been developed with changed approaches in all area as banks, developers, sellers and buyers battle it out to claim best advantage of the situation. How are you doing in the game of title deeds?
EU Succession Laws Must be Addressed in Writing to Protect Family Property
Sam Orgill of ProACT Partnership with Inheritance Tax Saving Tips for Overseas Property Ownership in UK and Cyprus
New EU Succession laws enforce radical change for Expats living and working abroad in the EU, or with assets in these countries. While the UK, Denmark and Ireland have opted out of applying the EU Directive it still affects EU expats with tax residence or domicile in the EU. This means written changes must be made to ensure your wife, partner, children or beneficiaries benefit as intended.
Review and change the way you organise and plan your Family inheritance, business and overseas property investment assets in UK, Cyprus and EU?
IHT - They Don't Smoke Fat Cigars in Panama Anymore...
Sam Orgill of ProACT Partnership with Inheritance Tax Saving Tips for Overseas Property Owners
Well they don't smoke any cigars in Panama any more. Inadvertent exchange of information has exposed assets owned by those living working and investing abroad. This draws these assets into Inheritance TAx Assessment for there home country. In the UK this means 40%.
Inheritance Tax Changes
Currently there is no worldwide exchange of information on assets between countries including UK and Cyprus. So you could settle a Will for the UK and a Will for Cyprus Property separately and the UK taxman will not know of your Cyprus assets unless he investigates.
From 1st January 2017 international exchange of property and asset information will commence between countries. This will allow IHT assessors to review worldwide assets to ensure those domiciled in that country pay on total estate assets. This will draw Cyprus, Spain, French, Portugal and Greek properties into the UK taxman’s net
If you choose UK law to settle your worldwide will & estate UK inheritance tax may well be applied to worldwide assets.
Inheritance Tax Changes Keep Coming for Expats Property
Sam Orgill of ProACT Partnership current Inheritance Tax Saving Tips for Expats Property Owners & Investors
Changes Keep Coming
Inheritance Tax changes mean that you must settle your world-wide estate in the country you habitually ‘live’. This could be different to the country of your tax residence AND the country of your tax domicile (‘where you are from’)
Cyprus has 0% inheritance tax (IHT) so is a better place to pay inheritance tax than the UK where 40% applies. This depends on your domicile. Cyprus now define your domicile in law. If you are Cyprus Domiciled you pay 0% IHT.
You can ensure an Inheritance Tax Saving of 40% by taking action today
Changes to Cyprus Succession Laws Affect Inheritance Tax for Expats Property
Changes to Cyprus Succession Laws Affect Inheritance Tax for Expats Property
Sam Orgill of ProACT Partnership with Tax Saving Tips for Property Ownership
New EU Succession laws enforce radical change for Expats living and working abroad in the EU, or with assets in these countries. While the UK and Ireland have opted out of applying the EU Directive it still affects EU expats with tax residence or domicile in the EU. This means changes to the way you organise and plan your Family inheritance, business and overseas property investment assets and income?
Changes Keep Coming
The changes mean that you must settle your world-wide estate in the country you habitually ‘live’. This could be different to the country of your tax residence AND the country of your tax domicile (‘where you are from’)
Spring Changes - Tax Saving in Cyprus & UK for Expats
Sam Orgill of ProACT Partnership with Tax Saving Tips ARISING from the Budget Affecting Pensions Property & Investment for EXPATS
Spring is here and along with it a new broom brings more tax changes and tax saving opportunities for Expats. Changes have come from the UK e annual tax budget , while Cyprus has introduced more changes to Permanent Residency Rules for Cyprus Property Owners.
Meanwhile Property Transfer Tax remains discounted for 2016 offer large tax saving for expats with Cyprus property contracts of sale – but no title deeds yet.
Free Review – Inheritance & Saving Taxes
ProACT offer a Free Review of your family situation. Expats must make written changes of your Will if you want to use the succession rules of your home country. But consider the impact on inheritance tax at 40% in the UK or other countries. Consider who you want to benefit in your Will, is this possible with your arrangements?
How do you need to change your savings and investments to save tax on defence levy for bank interest, dividends, property rental?
Origins – Where you are From
Origins – Where you are From
The key driver to the change was the introduction into Cyprus law of a statutory definition of where you are from – domicile. If you are born in a country with parents from that country then your origin is that country – your domicile. You may be born in Ireland you’re your parents come to UK to bring you up but your origin is the home country Ireland.
If you live in Cyprus for 20 years (and a tax resident for at least 17 of those years) then your Domicile becomes your country of residence
Migration, Families, Inheritance, Make Wills, Tax Savings Today and Tomorrow
What a 6 months. Cyprus under scrutiny from the Troika came up with game changing tax changes that reposition Cyprus as a Tax Friendly location for Expats living, working, investing and retired abroad.
These changes impact on the laws of succession affecting Wills, Trusts, and in turn Property, Business and Investments. The EU inspired legal changes allow new ways to save inheritance tax, a tax residence with no saving or investment taxes, maintain a pension tax environment of 5% income tax, discounts in property taxes on purchase and capital gains exemptions on overseas Cyprus property sales.
How does this affect your Family planning for inheritance, business and overseas property investment?