Work Permits!?

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
10/11/2008 04:41

Can any knowledgeable person member please clarify the work permit situation? I know there has been many postings on this before but it just gets a little messy and complex.



Question 1) Is there such a work permit for self employed people?



Question 2) Does it still stand that to set up a legitimate company you need $100,000 US?



Question 3) Can a Sole Trader work legally under an umbrella Company?



Question 4) What is the taxation percentages for income tax etc?



Can somebody please answer these questions with the facts and not just guessing.



Thanks



nunu

Ralph96



Joined: 01/07/2008
Posts: 531

Message Posted:
10/11/2008 05:22

Question 1) I think so.



Question 2) yes Probably.



Question 3) A good chance yes.



Question 4) Quite a lot.

mickey rourke


Joined: 27/08/2008
Posts: 157

Message Posted:
10/11/2008 06:41

Nunu

These questions have been answered dozens of times already

1/ Any foreign national working needs a work permit

2/ To set up a limited Coy without a TC partner you need $100000K, then when your company papers are granted, you will get a business permission, and may use the capital sum for trading purposes

3/ Yes but risky, Social Sigorta and provident fund must be paid monthly

4/ Tax returns must be made to the tax office, same as in UK you will have to employ the services of an accountant to do this

wearytravellers



Joined: 27/04/2007
Posts: 250

Message Posted:
10/11/2008 07:43

Nunu,



Answer to question 2. Yes you have to have a 10000 K USD if you do not have a TRNC Partner. However, the money is only lodged until such times as the company is set up and legitimised (a couple of weeks only) you can make an arrangement with the bank to do this. I would speak to Terry Hamilton (Solicitor for this) he has an accountant that is a whiz for this, once your company is registerd you can get work permits etc (one for me please !!!)



Question 3 YES and so can your Wife, Partner etc



Question 4 Rule of thumb to start off with, for every pound you earn, put 25p aside for Tax etc, your accountant will then work out what you are owing, and let you keep the difference. Also if you have a local partner, and, you are performing services or supplying goods for the Tourism market, then you will be entitled to claim back 70% of the set up costs.



However, in any event best to seek professional advice.....and the place to start is Terry Hamilton.......good luck.

glencoe


Joined: 01/02/2008
Posts: 256

Message Posted:
10/11/2008 11:45

Hi

Have to concur with Mickey not weary travellers unless they missed out a very important 0

I know and respect Terry Hamilton and know he reads the posts on this board, perhaps he could clear up a point 'is he legally qualified' in this country to represent people as an Advocate, as there are no lawyers here

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
10/11/2008 11:57

Greg,



I think you meant to say "there are no solicitors here"

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
10/11/2008 14:48

Ralp96 Thank you for your humour!..........



I was trying to get serious answers.......it gets boring when posting ends up with a "hot" stamp and 110 answers it normally ends up being postings of absoulte twaddle!



Have a good day!



nunu

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
10/11/2008 14:53

Thank you to the people that answered sensibly!.I know this topic it has been posted many times before...just takes hours to search through the twaddle files....plus rules and regs change on a weekly basis out there.



nunu

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
10/11/2008 16:46

http://trncvillaowners.phpbb3now.com/viewtopic.php?f=5&t=3881&st=0&sk=t&sd=a

This lady is selling a limited company and will apparently accept any offer. Why not give her a call.

windmill


Joined: 06/07/2008
Posts: 143

Message Posted:
10/11/2008 17:10

Nanu1,

Would not worry about it,theres no work anyway

Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
10/11/2008 17:34

Slave labour available @ boysie's



http://www.informedconsent.co.uk/p/boysie0267/

glencoe


Joined: 01/02/2008
Posts: 256

Message Posted:
12/11/2008 12:14

Hi Gavin

Terry being Scottish would possibly prefer to style himself as a lawyer

LOL

G

sabrina


Joined: 14/06/2008
Posts: 4

Message Posted:
16/11/2008 14:15

just started employment with a work permit and was told that as i am over 60 any social sigorta contributions i pay will be returned as a lump sum when i stop work as i would not qualify for a trnc pension. There is also a discount for health treatment when you have a work permit.You have to give up your residency permit to obtain a work permit if tyou have one.

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
16/11/2008 14:53

Hi Sabrina,



Why would you have to give up your residency permit to gain a work permit?

That doesn't make sense to me, are you sure about this?



The Butlers wife

Mindy



Joined: 27/10/2008
Posts: 1210

Message Posted:
16/11/2008 17:54

I was of the understanding Terry Hamilton is no longer operating as an Advocate, or is he just not associated with Seyhan now.

Chris and Sue


Joined: 07/08/2008
Posts: 272

Message Posted:
16/11/2008 19:52

You either have temp residency or a work permit you don't have both. The work permit counts towards your residency so you don't loose out.



Sue

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
16/11/2008 21:28

You cannot have temp residency if you have a business permit. And to make matters worse if you give up business you have to start from scratch with residency. Now that must be among the most unfair things here.

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
16/11/2008 22:52

Confused dot com comes to mind!!!!



The work permits, residency, temporary etc it all contradicts itself!



I so wish they or Mr Talat would spend a couple of days and sort their bloody cabinet out with regards to the fundemental basics of running an economy.



I fully appreciate the Political problems and complexities of TRNC but it would make far more easier for EVERYBODY and I mean all that live and work in TRNC......Come on Mr Talat you are a smart Man please sort it out!



nunu

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
16/11/2008 23:13

I would disagree with comments re Mr Talat, he will be back repairing fridges this time next year!!!!!!!

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
16/11/2008 23:52

Cyprusishome you may be right.!?......I just find it hard to comprehend how ridiculus Politics and Beauracracy is in TRNC.......IT could be a very smart place in the World to live and work for ALL that are there or chose to relocate there!



The Politics and brick walls have been going on for too long in TRNC....just hope they all get it sorted soon!!!!!!!!???



nunu