Cyprus non-domicile status and Cyprus Taxation incentives for High-net-worth individuals moving to Cyprus
Cyprus is encouraging High-net-worth individuals to move to Cyprus by granting personal taxation incentives
The “Cyprus Non Domicile” regime aims to exempt High-net worth individuals moving to Cyprus from personal taxes (Special Contribution for Defense). High-net-worth non-domiciled individuals (non-doms) will need to declare Cyprus as their taxable jurisdiction and receive an exemption from Cyprus personal taxes (Special Contribution for Defense) on
- rents (3% on 75% on rent income),
- interest (30%) and
- dividends (17%)
which are applicable to Cyprus domiciled individuals. The exemption will apply for 17 years from the date of declaring Cyprus as their taxable jurisdiction. An individual is considered a Cyprus non domiciled if he has not been a tax resident in Cyprus for at least 17 out of the 20 tax years preceding the tax year of assessment.
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