Cyprus: For persons wishing to transfer their tax residence to Cyprus

An individual can become a tax resident of Cyprus and transfer his tax residence to Cyprus in order to enjoy the tax advantages offered by Cyprus:

1) As long as he stays in Cyprus for more than 183 days in a tax year

2) As long as he is considered a “60-day” tax resident of Cyprus. To be considered a tax resident of Cyprus under the 60 days rule an individual must not be considered a tax resident in any other state and

  • Should not have resided in any other country for a period exceeding 183 days and is not considered a tax resident by any other state
  • He must remain in Cyprus for 60 days, in the relevant tax year and
  • Carry out any business/activity in Cyprus and/or be employed in Cyprus and/or hold a position (e.g. director) with a person who has his tax residence in Cyprus at any time during the relevant tax year
  • He must maintain during the tax year a permanent residence in Cyprus, which is either owned or rented.

A natural person who cumulatively meets the above conditions is not considered a resident of Cyprus in the relevant tax year if in that year he terminates any activity/business and/or any office (e.g. manager)

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