The Cyprus Non-Domicile Program aims to encourage more international entrepreneurs and High Net Worth Individuals to live in Cyprus. This step is intended to help improve the country's economic situation and secure its position as a hub of the international economy.
The term "resident but not domiciled", also known as Non-Dom, was passed as a law in July 2015, which offers entrepreneurs and wealthy people from abroad far-reaching advantages:
- No tax on income from dividends
- No taxes on interest income
- No tax on any abroad income
- Small minimum presence requirement (60 days)
- Access to health care and social security
- guaranteed tax benefits for 17 years