Cyprus long-term resident status after five years

@Toon

Thank you 😀

Contact bow to ensure you have advice relevant to your situation-

https://www.gov.uk/guidance/healthcare-in-cyprus#s1

interestingly - S1 forms in UK only cover upto £4500 per year in medical costs for non U.K. nationals

S1 forms are issued to people who live  1.7.1 Insured person  1.7.2 Family member of insured person

 1.7.3 Pensioner  1.7.4 Family member of pensioner

 1.7.5 Pension claimant

one EEA country, but have their healthcare

costs covered by another EEA country example state pensioners.

2. LONG-TERM CARE BENEFITS IN CASH

 2.1 The holder receives long-term care benefits in cash

This form allows the UK to claim around £4,500 per

person, per year, towards their healthcare costs.

(*) Regulations (EC) No 883/2004, articles 17, 22, 24, 25, 26 and 34, and 987/2009 articles 24 and 28.

(**)For Spain, Sweden and Portugal , the certificate must be handed over to, respectively, the head provincial offices of social

security National Institute (INSS), the social insurance institution and the social security institution of the place of residence.

(***) Information given to the institution by the holder when this is not known by the institution.

Thanks Toon, much appreciated

My Civil partner gets her UK pension in april of 2026

So from what I read she will have to apply for her own S1 then ?

I  don't think Ireland are processing Irish Passports by decent in less than 12 months to 18 months so it could be a close run thing.

One more question regarding tax on interest gained in a UK bank from a monthly paid fixed term savings account

As I understand things I would need to complete a UK Government form once I had a Cyprus address and was a Cyprus Tax resident to tell them I wanted to live and be taxed in Cyprus under the 2018 treaty

After I did that would my UK pension payments automatically start to get paid gross into my UK Bank account ?

If so will this be a fairly quick process ?

Do I still get sent a P60 ? and what happens to my Tax Code  and NHS Number ?

What I want to do is just move enough cash each year from my UK bank to my Cyprus Bank probably twice or 3 times a year to cover outgoings in Cyprus, is that doable ?

cheers

gordon

Yes ..on the S1

The DTT works fine ..I think ours took about 6 weeks to be fully effective to be taxed in Cyprus but that was 10 years ago.. we keep our pensions/income  coming into UK  and exchange/transfer as required.. but for for your.residency you will need to prove regular ncome coming into a Cyprus bank from abroad

We pay no tax here. Tax code would become NT.... NI number remains the same for uk, would suggest you speak to a tax accountant if either or both of you breach the 19500 euros pr yr. It is or can be beneficial if that Income is a above about 26000 per yr to opt for the 5% flat rate of tax above.3400... also be aware that government worker pensions must be taxed in uk.. also be aware that transactions above 10000 may be flagged as AML gets taken to.the next level here..cash transactions are restricted too incl prepaid cards

If your pension is not a government service pension you will need to have this in drawdown to have the pension administrator apply for a HMRC tax code. Once you have that you can ask HMRC to issue a new notice of coding for the pension and this will be NTX. Once the pension administrator has the notice of coding they will pay gross.

I transfer 2400eur every month into the Hellenic bank to satisfy immigration renewals for the prior 6 months of the renewal.

You will always retain the NI number and HMRC tax refs. You must complete a UK SA if you have income that is taxable in the UK i.e. rent Government pension etc. You are also required to submit a Cypriot tax return even if you have no tax to pay if you recv income that is considered under the Tax of Cyprus.

You should complete a P85 on the HMRC web site when you transfer residency to Cyprus. This will trigger all sorts of things.

These were the rules when I completed this 2 years ago. As always check things have not changed and ideally engage a Cypriot (local) professional to deal with immigration and tax. I am not a fan of paying money for professional services when there is a route yourself BUT. It removes all the stress and there will be plenty lol

If you get a UK state pension you can request DWP pay this to a Cypriot bank. I do not do this but apparently they use a good exchange rate and it works well.

@phildraper

Great info

@phildraper

Yes, apparently DWP use Citibank which gives a good exchange rate. The only thing to be aware of is that, because they are an American bank, payments may occasionally be a day or two late if it's an American bank holiday!

I get mine paid into my GBP revolut account and it comes in on a Friday rather than a Monday ..

@Toon

Me too: Revolut seem to credit all my pension payments to my account on the evening (about 5:30 pm) of the day *before* they're actually paid (i e. the date on my payslips)!🙂

Interesting as First Direct show the DWP payment pending for days before it then shows cleared! Maybe I should change it to Revolut

I did make a transfer from Revolut to Hellenic yesterday and normally it takes about 2-3 hours in banking hours to arrive. Yesterday it was there before I could switch to the Hellenic app :-) So I guess the EU  new instant electronic transfer laws have taken effect. I will see if this also works on the weekend.