Cyprus Tax Resident
Since 1992, Feod Group has been providing a full range of services for obtaining tax residency status in Cyprus.
Among the new tax laws of Cyprus, the concept of a non-domiciled (non-domiciled resident) tax resident of Cyprus has been introduced, the main purpose of which is to raise capital from citizens of the European Union and outside the European Union and provide preferential terms for paying basic taxes.
This series of laws is mainly aimed at foreigners who want to move to Cyprus or move to Cyprus the main office of their company.
Foreigners who choose to transfer their personal tax residence to Cyprus will automatically enjoy tax benefits for the next 17 years.
The main advantage of the status of a non-domicile resident of Cyprus is the full exemption from taxes on dividends and interest on deposits, as well as other significant advantages described below.
Conditions for obtaining tax residency in Cyprus
Cyprus provides foreigners who do not reside in another country more than 183 days per year with the opportunity to obtain the status of tax resident of Cyprus (non-domiciled resident).
You can become a Cyprus tax resident in one of the following ways:
Living in Cyprus for a total of 183 days a year,
Reside in Cyprus for a total of 60 days a year, subject to evidence of strong ties with Cyprus and the existence of a permanent residence in Cyprus (owned or leased).
Evidence of strong links with Cyprus
Relations with Cyprus must be confirmed with one or more of the following proofs:
- A working Cyprus company with a real office;
- Employment in a Cyprus company;
- Proof of Residence in Cyprus;
Calculation of days is as follows:
- the day of departure from Cyprus is considered the day of residence outside Cyprus;
- the day of arrival in Cyprus is considered the day of residence in Cyprus;
Arrival and departure from Cyprus on the same day is considered one day of residence in Cyprus;
Departure and arrival in Cyprus on the same day is considered one day of residence outside Cyprus.
Benefits of a Cyprus tax resident (non-domiciled tax resident)
- Full exemption from taxation in Cyprus of dividends and other passive income from interest paid, regardless of where such income is received, in Cyprus or worldwide;
- Full exemption from taxation on profits from the sale of securities, shares, bonds, debentures, etc., with the exception of profits from the value of shares of real estate in Cyprus;
- A tax-free salary minimum of € 19,500 per year for employment in Cyprus, salaries higher are subject to a progressive tax rate of 20%;
- Partial exemption from income tax for employment in Cyprus in the amount of 50% for a period of 10 years, subject to an annual salary of more than € 100,000;
- Full exemption from income tax on employment outside Cyprus;
- Capital gains tax on the sale of real estate located outside Cyprus is not levied;
- No inheritance tax, property tax, gift tax;
- In the case of persons who are beneficiaries of the Trust, such persons will be exempt from tax in Cyprus to the extent that income to / from the Trust will be in the form of interest or dividends.
Corporate Services Feod Group in Cyprus:
- Corporate services: registration of companies in Cyprus, including the purchase of ready-made companies, opening an account with banks in Cyprus, administration, providing an office in Cyprus, secretary and management;
- Tax planning services;
- Services of trust attorneys;
- About immigration services in Cyprus, read more in the section Visas and immigration to Cyprus.
Consultations are held at the offices of Feod Group by Cypriot and English lawyers with the involvement of audit partners, financial and tax planners, representatives of development companies and real estate brokers.
An appointment for a consultation in Ukraine on Cyprus tax residency, citizenship for Cyprus investments is made by e-mail: [email protected] and by phone / WhatsApp: +380503939030.