What are the Tax Efficiencies Available in Cyprus for Individuals and Corporates?

[sumaiyakhatun26]

Cyprus is a hidden European gem in terms of the opportunities and benefits available to individuals and corporates, moving there on a permanent basis and/or establishing residency through the ’60 Day Tax Residency Rules’.

EU and Non-EU Individuals

For non-EU nationals there are various programmes for individuals to enable them to move to Cyprus, with one option being to establish a company in Cyprus. EU nationals are free to move to Cyprus, as Cyprus is in the EU.

The ‘60 Day Tax Residency Rule’ is a route for EU and non-EU nationals, to optimise iceland mobile database the tax efficiencies available from Cyprus, without needing to reside there more than 60 days a year.

We will start by looking at the tax benefits available to individuals and to corporates.

Tax Benefits Available to Individuals

What are the Advantages of Becoming Cyprus Tax Resident?

Cyprus non-domicile status can be an effective means to optimise personal wealth planning. The advantages of becoming Cyprus tax resident, an option for individuals not previously tax resident in Cyprus, include the following:

Non-Domicile Status
The non-domicile tax regime is particularly interesting for individuals whose main source of income is either dividend or interest income, as these sources of income are not taxed in Cyprus.