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Originally Posted by Kristian
Webby & Soul_Rebel -- Thanks for the great info!!! Soul_Rebel, it's good to hear you live and work in Cyprus. Webby, you've broken down the Malta immigration requirements more succinctly than anywhere on the web!
OK, a question ... I make my online money promoting other peoples' sites (dating and cams). So the question is, could I incorporate myself as based in another country (for simplicity, UK, for instance), and then simply enter Cyprus as a retiree ... but actually working online and having earnings paid to a UK bank account.
I want to do everything legally, but is this the loophole I need?
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OK.. Goes like this. You must be a resident of another country (Cyprus/Malta/wherever) and "non resident" in the UK.
The one country you don't stuff your net earnings into is your "home country" - ie the one you are no longer a resident of.
If you do in fact stuff your biz earnings into the UK - there will undoubtedly be problems with taxation and this will need to be paid.
A common scenario to kill that problem is simply have a foreign corp - preferably in an area of no or little taxation and then have a corp bank account (wherever is most convenient), but again, not in your "home country".
In effect, you are taking the full advantages of being "non resident" in your home country and paying minimum or no taxation on your business activities - and eg.. living in Cyprus tax free or Malta with a flat taxation rate of 15% - and that 15% applies only the the funds drawn into Malta.
A place to look for a corp which may be suitable is Gibraltar, but Soul may have a better clue from the Cypus end (not sure of the specifics of living there and operating a corp).