Become a Cyprus Tax Resident and Enjoy:
- No tax on gains arising from the disposal of investments (shares, bonds, etc)
- No withholding tax on the repatriation of income as dividends, interest and royalties
- Extensive double tax treaty network
- Income tax exemptions for taking up employment in Cyprus up to fifty percent of the remuneration for 10 years for employment income of more than €55,000 per annum
- Low social insurance contributions
- No tax on worldwide dividend and interest income for non-domiciled individuals for 17 years
- No tax on retirement gratuity and special tax regime on foreign pension income
- No estate duty, wealth tax, gift tax or inheritance tax
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Cyprus Non-Dom Tax Residency
Obtain Cyprus tax residency & non-domicile individual status by staying 60 days in Cyprus
The low tax jurisdiction of Cyprus is very popular with foreign individual entrepreneurs who wish to benefit from its advantageous business and tax environment.
With low tax rates on both income taxation for private individuals and corporate taxation of companies among other benefits, it is no surprise the Cyprus is one of the best places to relocate amongst EU Member States.
Individuals can be deemed as non-domiciled tax residents of Cyprus if they have not been born in Cyprus or have not lived in Cyprus for at least the last 17 years.
Under the status of non-dom tax residency in Cyprus, you can benefit from the attractive business environment and preferential tax treatment.
Why choose Cyprus
- Geographical location, being at the crossroads of three continents - Europe, Asia and Africa
- EU Member State with a stable economy
- Low tax rates and no inheritance tax
- Legal system based on English common law
- English language is widely spoken and is the accepted language for business
- High level and mature professional services industry
- Access to reputable private and public schools
- Low cost of living
- High quality healthcare
Become a Cyprus tax resident by staying in Cyprus 60 days!
Normally, to be considered as a Cyprus Tax Resident you would have to be present in Cyprus for more than 183 days in a calendar year. Under the “60 day rule”, you can be considered as a Cyprus tax resident provided that you satisfy either the “60 day rule” or the “183 day rule”.
The “60 day rule” intents to attract a significant number of individuals (investors, entrepreneurs, digital nomads, artists, sportsmen, crew members, foreign employees and other businessmen) who do not fulfill the tax residency requirements in any country.
How to become Cyprus Tax Resident under the 60-day rule?
In order to become a Cyprus tax resident on the basis of the “60 day rule” you must meet the following conditions:
- Remain in Cyprus for at least 60 days during a tax year, and
- Do not reside in any other single state for a period exceeding 183 days, and
- Is not tax resident in any other state; and
- Carry out business activities and/or work in Cyprus and/or be a director in a Cyprus tax resident company
- Maintain a permanent residence in Cyprus (either owned or rented)
Required documents for Cyprus Tax Residence
The required documents for obtaining Cyprus tax residence certificate with Non-Domicile Status:
- passport copy
- bank statement for the last 6 months to demonstrate sufficient funds to live on
- source of income
- health insurance
- residence rental agreement
- yellow slip from immigration (MEU1 application form required for EU Nationals)
- tax registration forms
Tax residency by establishment of Cyprus entity
One of the most popular ways to become a Cyprus Tax Resident is by registering your own private company which provides employment to you.By establishing a Cyprus Company foreign individuals can obtain work permits and tax residency certificate (cyprus non-domiciled tax status) from the authorities. This option allows the expatriate shareholders and employees of the company to apply for residency status.A Cyprus entity offers many tax and business possibilities.Cyprus companies enjoy low corporate tax of 12,5%, 100% foreign ownership, no exchange restrictions, free profit repatriation, all benefits accruing from Cyprus’ nearly 55 double tax treaties, etc.
About Us
Oneworld Ltd employs a team of 75 professionals and corporate administrators and provides incorporation, fiduciary, management, banking, accounting, redomiciliation services, as well as setting up and administering private funds and trusts.
We advise on tax planning, incorporate and administer companies in zero and low tax jurisdictions and provide boutique services including citizenship and residency services.
Oneworld ltd is licensed by CySEC as an ASP (Administrative Service Provider), license no 146/196.
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