Nicosia, Cyprus. Cyprus’ relatively low corporate tax rate has helped make the island a destination for international businesses and, more recently, for digital content creators promoting relocation and tax advisory services.
Corporate tax rate and appeal
Cyprus has long been described as a safe haven for international businesses, benefiting from one of Europe’s lowest corporate tax rates, which has recently risen to 15 per cent.
The low tax rate has in recent years drawn more digital content creators from across the globe to relocate to the island, though their income can be harder to review than the balance sheets of ordinary companies.
Influencer promotion of Cyprus
Content creator Rico Go, who appears to have his own business registered in Cyprus, said in a YouTube video posted in 2022 that in Germany he gave half of his money to taxes, while in Cyprus he paid 12.5 per cent corporate tax and 2.5 per cent on corporate gains. The video was posted before the corporate tax rate was raised to 15 per cent in January.
Rico Go also produces promotional-style content for his 145,000 YouTube subscribers and is part of a subgenre of influencers who advertise Cyprus as a low-tax business location.
Tax advisory and relocation services
As part of his content, Rico Go advertises the company tax.one, which uses the slogan “Escape high taxes. Protect your wealth. Gain freedom.”
The company offers “tax and wealth advisory and relocation services” for Cyprus and the United Arab Emirates, with a first counselling call available for €200. A photo on the website shows him and a colleague in front of a screen at a presentation bearing the headline, “I hate paying taxes just like you.”
Neither Rico Go nor tax.one responded to the Cyprus Mail’s request for comment.
Other influencers offering relocation help
Two other German influencers, Alina and Jonathan Schoek, who have more than 600,000 YouTube followers, also began offering services to help people relocate after moving to Cyprus in 2022.
Have you seen more digital content creators promoting relocation to Cyprus for tax reasons?