Digital nomads are by definition among the freest people on earth. Hopping from country to country indulging in exotic experiences & sights while working from their laptop.
But you also need to understand that if you don’t establish a tax residency then you could be liable to multiple taxes in multiple countries.
I advise digital nomads to establish a tax base in one low tax country and then use that as a base to travel around the world.
Cyprus is ideally positioned for digital nomads.
Not only is it located in the Mediterranean straddling Europe & the West Asia offering easy access to Europe, Africa, the Middle East & beyond.
Cyprus also has a 60 day tax residency rule which means you can become a Cyprus tax resident, with its high personal tax allowance, with only 60 days in the country (as opposed to 183 days in most countries) provided you don’t spend more than 183 days in another single country.
Ideal for the digital nomad.
Book a free review with one of our expat experts to discuss your options.
For more information and guidance you can contact us at:
www.proactpartnership.com
