Cyprus - Residency Programs
Here are some key points about the taxation system in Cyprus:
As of 1st January 2017, an individual can be considered as a tax resident of the Republic even if he spends less than 183 days provide, he meets all of the following conditions within the same tax year (1st of January to 31st of December):
Cyprus offers an attractive tax regime for non-domiciled individuals who become tax residents of the country. Non-domiciled individuals are those who do not consider Cyprus to be their permanent home or their domicile, and they are subject to special tax rules.
Under the non-domiciled tax regime in Cyprus, individuals can benefit from the following tax advantages:
It is important to note that non-domiciled individuals who become tax residents of Cyprus are still subject to taxation on their income and capital gains generated in Cyprus. Additionally, they are required to comply with the country’s tax laws and regulations.
It is highly recommended to seek the advice of a professional tax advisor who can provide detailed information and guidance on the tax implications of becoming a non-domiciled tax resident of Cyprus.