Cyprus Limited + Non Domicile

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

The Cyprus Non-Domicile program provides excellent opportunities to all investors' who wish to achieve optimal tax planning for better savings.

The main advantages are:

• no tax on dividends
• no tax on any abroad income
• no tax on crypto profits
• no tax on interest and crypto staking/rewards
• access to health care and social security
• only 60 days of presence are required
• the program is guaranteed for 17 years

The program's goal is to use a far-reaching tax reform that allows more international investors and wealthy private individuals to reside in Cyprus to enhance economic development and secure a position as a jurisdiction in the global economy.

Read more about the Cyprus Non-Dom program in our comprehensive guide "Becoming a Non-Domicile in Cyprus".

Almost every foreign Cyprus resident can benefit from the Non-Dom system since the law doesn't impose any financial threshold or distinctions for EU and third-country nationals. However, there are several variances if you wish to obtain a visa to reside in the country based on your EU, non-EU, or financial status.

If you are a national from EU countries, you have no visa restrictions. If you are a third-country national, then you need to apply for the permanent resident permit.

To put it simply: If neither you nor your parents were born in Cyprus or you have not been a Cyprus tax resident in the last 20 years (or for no longer than 20 years in total).

Next you need to become a Cyprus tax resident. In January 2017, the tax residency regulations got amended into the 60-day rule. To become a Cyprus tax residence under the 60 days rules, you need to meet the following requirements:

1. You must remain in Cyprus for at least 60 days during a tax year.

2. You need to carry out business activities, get employed, or hold an office with a Cyprus tax resident company in the tax year.

3. Maintain a permanent residence in Cyprus by either renting or owning a home.

To start the immigration process, you need an address in Cyprus. Your local personal advisor is always available to you as a contact and assistance. He will help you with the housing search.

Small furnished apartments are available from 400€. For a decent apartment, you will pay at least 600€. In Paphos, apartment prices are a bit cheaper. In Limassol rather more expensive.

As soon as you have a rental contract in your name and finished the company setup process, we can start the final company registration application. Alternatively, we can provide a temporary Office to speed up the process. Once the company formation is through, we will make an appointment at the Immigration Office. There you will get your Yellow Slip (Immigration Document and your Alien ID Number). Following your social insurance and personal tax number.

At the end of the year, we apply for your Non-Dom certificate. Your Non-Dom Status is valid from the date of application. The final certification can take up to one year.

Our Cyprus Limited Web Application covers all steps.

It always depends on when your Non-Dom application has been requested. As a rule, it is applied for at the end of the year because, among other things, you have to prove that you are a Cyprus tax resident and paying social contributions.

Your Non-Dom status is valid from the date of the official request. Your consultant will upload the request confirmation. From now it may take 6-12 months before it is granted in full with the delivery and upload of the Non-Dom certificate.