Cyprus is a very attractive proposition for non-EU individuals seeking to establish a personal or corporate base within the EU.
Attractive Tax Benefits
We are seeing an explosion of interest in the tax benefits available to Cyprus tax resident individuals*.
There are many wealthy individuals with contacts in international centres, such as Switzerland for whom Cyprus is an interesting proposition.
Individuals can become Cyprus tax resident spending as little as 60 days a year in this sunny, Mediterranean island.
Key Individual Tax Advantages
- There is an exemption from tax on capital sums from pensions and a low rate of tax on foreign pension income
- For first time employment there is a 50% exemption from tax for those earning more than €55,000 per annum
- Income from interest and dividends is not taxed in Cyprus
- There is an exemption from Capital Gains Tax (with one exception), and no inheritance or wealth taxes are liable in Cyprus
Cyprus 60 Day Tax Resident Rule
It is possible to become tax resident in Cyprus – spending only 60 days a year there, subject to further conditions. Please contact Dixcart for additional information.
Additional Information
Dixcart is experienced in providing advice regarding the tax benefits available in Cyprus and assisting with the relocation and/or the tax residence process.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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