Are You an Entrepreneur Seeking Tax Efficiency?
Every entrepreneur or investor with global income sources and investments understands the importance of tax optimization. This is what the Cyprus non-dom regime does.
The Cyprus non-dom regime is one of the best tax regimes among global investors and companies wanting to operate internationally. It offers entrepreneurs the opportunity to significantly reduce their global tax burden through secure, legal, and compliant means.
Foreigners within the EU and the rest of the world can transfer their tax residency to Cyprus to enjoy tax planning opportunities. When they do this, they are considered to be a Cyprus non-domiciled tax resident for a period of up to 17 years.
If you are a business owner or an investor looking to relocate or establish your tax residency in a tax-friendly environment, joining the Cyprus non-dom regime should be at the top of your list.
Want to minimize your tax burden? Schedule a free consultation today.
How will you benefit from Cyprus' non-dom regime?
The non-dom tax status regime helps entrepreneurs, investors, and high-net-worth individuals (HNWIs) worldwide reduce their tax burden and achieve great financial success.
Rest assured, we will be your trusted guide, assisting you at every step in acquiring the non-dom status. This ensures you retain your income, reinvest it into your ventures, and move towards your financial stability.
Here are some of the benefits you will enjoy when you become a non-domiciled resident in Cyprus:
- As a non-domiciled resident in Cyprus, you will enjoy a range of tax exemptions. These include exemptions on wealth, estate duty, gifts, and inheritance, allowing you to retain a significant portion of your wealth.
- You will also enjoy complete tax exemption on worldwide dividend income for 17 years, facilitating long-term investments.
- Any Income generated from the sale of bonds, derivatives, and other financial instruments is also tax-free.
- You will enjoy a tax rate of 5% on foreign pension income exceeding €3,420.
- Foreign employees becoming Cyprus tax residents with an annual income exceeding €100,000 will benefit from a 50% tax exemption. They will also enjoy complete tax exemption on gains from selling shares.
- Cyprus's strategic position within the EU region opens doors to a wider market and increases potential business opportunities. By accessing a wide pool of resources, you will also enjoy the freedom of movement across different EU countries.
- To maintain a non-dom status, you will only need a minimum of 60 days of physical presence in Cyprus. This favors global entrepreneurs and investors who have flexible schedules, conduct business internationally and travel frequently.
- You will get a complete tax exemption if your annual salary income is below €19,500.
- Non-domiciled individuals residing in Cyprus gain access to the high-quality Cypriot healthcare system.
Want to maximize your income? Schedule a free consultation today.
What are the requirements for obtaining Cyprus Non-Dom status?
It's important to understand your domicile when pursuing a non-dom status. Your domicile can be either of origin or by choice.
Domicile of origin is acquired by birth, while domicile of choice is acquired when you reside in a specific location with the intention of making it your permanent home.
You can still qualify for a non-dom status if Cyprus is your domicile of origin if:
- You haven't been a tax resident of Cyprus for over 20 years continuously and have maintained your domicile outside the country.
- You weren't a tax resident of Cyprus for at least 20 consecutive years before the island's Non-Dom legislation was established.
In case your domicile is of choice, here are the requirements you must meet:
- The 183-Day Rule: You must have spent 183 days in a tax year and must not reside more than 183 days in a year in another country.
- The 60-Day Rule: You have resided in Cyprus for at least 60 days in a tax year and meet the following conditions:
- You have not been declared a tax resident of another country.
- You have a business, work in Cyprus, or have an office (e.g. you are a Director in a Cyprus company).
- You must have a permanent home in Cyprus, either through ownership or a long-term lease.
- You reside on the island for at least 60 days within a fiscal year.
With the help of our qualified staff, we will offer personalized guidance, ensure that you meet all the required requirements, and help you navigate the application process smoothly.
Want to minimize your tax burden? Schedule a free consultation today.
Photo by Tima Miroshnichenko
Why Choose Meridian Trust for Your Cyprus Non-Dom Needs?
Meridian Trust is your trusted partner and one-stop shop when it comes to navigating and planning your financial tax successfully. Our team of professionals will ensure a smooth and efficient application process, while you concentrate on running your business.
Our services are not one size fits all, and we tailor them to suit and meet your specific goals and needs. We go beyond helping you establish your non-domiciled tax status in Cyprus.
Our financial tax planning services include:
- Accounting
- Audit and Assurance
- Payroll Services
- Value Added Tax
- Corporate Tax
- Income and Individual Tax
If you are thinking of packing up and moving to a new country, we've got you covered. We will provide you with reliable and efficient relocation services.
Our relocation services include:
- Handling all the complexities that come with obtaining visas and long-term resident permits.
- Providing comfortable and convenient temporary accommodation solutions.
- Giving you suitable school recommendations for your children and offering language training resources.
- Connecting you with potential employers and assisting with your job placements
- Guiding you through the new culture and easing your transition into your new environment.
Schedule your free consultation for Cyprus non-Dom eligibility
There's no doubt that Cypriot tax residence has many benefits. This is why we are here to help tax residents around the world qualify for Cyprus non-dom regime and enjoy tax exemptions.
Partner with us today and let us create a holistic action plan for you, incorporating everything from handling your taxation needs, obtaining residency visas and ensuring your Cyprus tax residency. We will find you the best solution for your needs.
All you need to do is fill out the form below and schedule a 30-minute free consultation with our lawyers to discuss your questions about acquiring a Cyprus non-dom tax status.
Let's talk! Schedule a free consultation today.