Relocation Benefits
Moving to Cyprus under the Tax Residency scheme or along with business relocation allows multiple advantages to personal and corporate level.
Cyprus has a developed legal and tax framework which offers to entrepreneurs multiple advantages.
TAX EXEMPTIONS
Cyprus offers to nationals a range of tax exemptions on personal income. These exemptions are valid with the acquisition of Cyprus Tax Residency and the Non-Dom status.
TAX FREE INTEREST
Individuals with the Non-Dom Status in Cyprus are not subject to taxation on interest or investment results gained from abroad. The same exemption applies to Cyprus Registered Companies.
NON-DOM 17 YEARS
Cyprus law secures and guarantees that all the tax benefits from Non-Domicile status are valid for 17 years. Although the tax regulations worldwide change constantly, Cyprus secures this status allowing individuals to long-term plan their personal tax.
60 DAYS RULE
The 60 days rule allows more flexibility to Tax Residence scheme. Spending 60 days a year in Cyprus instead of 183, gives any individual the same tax benefits enjoyed with the Non-Domicile status. The good part is that this is valid even if the period of 60 days is not consecutive.
COMPANIES
Cyprus companies have low maintenance costs. Cyprus Limited Liability (LTD) Companies, have significant advantages regarding taxes and duties. The corporate tax in Cyprus is 12.5% and the tax for income from licenses, IP and similar turnover is only 2.5%. Payments to offshore companies are tax deductible as are considered business expenses.
Discover the benefits of Tax Residency scheme
- No need for a physical presence in the country
- Minimise your income tax on your worldwide earnings
- 50% tax exemption on remunerations arising from Cyprus employment
- Multiple Tax deductions on income