Portugal: in 2024, the end of the 0% flat tax for foreign retirees
After ten years: retirees fleeing from Portugal
This year, Portugal has decided to end the 0% flat tax for foreign retirees, which had attracted approximately 100,000 pensioners over the last decade, contributing to supporting the country's economy and creating jobs. The end of the facilitated regime, along with increases in housing prices and the cost of living, is already having a significant impact on Portugal's attractiveness for foreign retirees, who might seek more convenient destinations where they don't have to pay taxes on pensions or can enjoy a significantly reduced tax regime.

For this purpose, Cyprus has now become one of the most sought-after destinations for Italian retirees. The island in the Eastern Mediterranean has been attracting many Italian pensioners for years, primarily due to its favorable climate, slower lifestyle, Caribbean-like beaches in the South-Eastern coast, safety, proximity to Italy, and more.

After Portugal, one of the most sought-after destinations is Cyprus
Advantages of Cyprus: climate, safety, and a slow lifestyle
On the island in the Eastern Mediterranean, where the sun shines for more than 300 days a year, foreign retirees benefit from a facilitated tax regime. After relocation and obtaining tax residency, Italian pensioners can receive their gross pension.

The 5% flat tax in Cyprus: an enticing option for pensions above 26,000 euros. The no-tax area: an advantageous choice for retirees with lower incomes.
Depending on the annual amount of gross pension, retirees (excluding former public employees from Italy) can choose one of the following tax treatments:
- a flat 5% tax on foreign pensions (recommended for those with a gross pension exceeding €26,000)
- a no-tax area of €19,500, with a 20% rate on the difference only (recommended for those with a gross pension below €26,000)

Entrust Cyprus Services for your relocation to Cyprus as retirees!
Since 2018: experience and professionalism in relocating Italians to Cyprus
Cyprus Services, since 2018, has been involved in the relocation of Italians to Cyprus.
Our clients are primarily retirees. But also small entrepreneurs and digital nomads who wish to open a company and take advantage of a facilitated tax regime compared to Italy, as well as all those who want to change their lives and seek a small paradise just at three-hour flight from Italy.

Comprehensive services: from bureaucracy to house hunting, up to a change of life
Our services include assistance with all bureaucratic procedures; assistance in house hunting (rental or purchase); discovery trip for those who are not yet familiar with the beauties of Cyprus and want to understand if this can be the ideal destination for their relocation.
Our Italian native-speaking staff will explain everything about Cyprus and guide you to discover this wonderful island.

Contact us now: discover how Cyprus can be your new home!
Contact us via email at: info@cyprus-services.com, or via WhatsApp at +35795121272 (non-binding enquiry).