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Say goodbye to Special Defence Contribution (SDC) Tax by obtaining the Non-Dom status!
SDC Tax does not apply in the case of Cyprus Tax Resident Individuals who are non-domiciled in Cyprus.
But what does this mean for you?
The first €180,000 of Dividend and Interest income for every natural person (annually) will be subject to a contribution to the General Health System in Cyprus at 2.65%, capped at just €4,770!
The Cyprus Non-Dom tax benefits are effective for 17 years, offering security and certainty for long-term planning. The Non-Dom status may be obtained within 3 weeks from the submission of the application.
But wait, there's more!
You can be considered a Cyprus Tax Resident if you spend more than 183 days in a calendar year in Cyprus.
Alternatively, you can be considered a Cyprus Tax Resident if you satisfy the 60-Day rule:
Check out the other Tax Advantages for Individuals
No Tax on any profits earned from the sale of securities (including, amongst others, shares, bonds, debentures, and options on securities)
No inheritance tax | No wealth tax | No gift tax imposed in Cyprus
No Tax on any lump sum received as a retirement gratuity
No Tax on lump sum repayment from life insurance schemes or approved provident funds
100% exemption from income tax for remuneration earned from an employment exercised outside Cyprus for a period of more than 90 days (in aggregate) in a tax year for a non-Cyprus tax resident employer or foreign permanent establishment of a Cyprus tax resident employer
50% exemption is provided under Income tax on the remuneration from any employment exercised in Cyprus by an individual who was a tax resident outside Cyprus before the commencement of the employment, provided that the annual remuneration exceeds the amount of €55,000.The exemption applies for a period of 17 years.
20% exemption or EUR 8,550 (whichever is lower), under Income tax on remuneration, from any employment exercised in Cyprus by an individual who was a tax resident outside Cyprus before the commencement of the employment
Unlocking Opportunities: Residency, Tax Residency, Non-Dom Regime & Incentives
We Get it. We really do. Let’s craft a plan for you.
We would love to hear from you! Our team is ready to answer your questions and they are wearing their thinking caps. We respond to all enquiries immediately during office hours and in any case no later than 24 hours.
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