With over 70,000 Brits in Cyprus, and around 15,000 who have applied for a residence permit in the island since the Brexit referendum, many have to decide what their future financial plans are and what country is going to be their permanent home.
But the exit from the EU could create a problem for UK expats living in the country who are looking to transfer their pension into a Cyprus-based Qrops.
This is because HMRC could decide to pass legislation to impose the 25% Overseas Transfer Charge to all pensions transferred overseas, even to EU countries.
To find out more, click on IA’s latest regional piece – Is Cyprus the answer to Brexit concerns?
