Non domicile Cyprus 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 Non Domicile Cyprus regime aims to exempt High-net-worth individuals moving to Cyprus from personal taxes (Special Contribution for Defense). High-net-worth non domicile 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 non domicile Cyprus individuals. The exemption will apply for 17 years from declaring Cyprus as their taxable jurisdiction. An individual is considered a non domicile Cyprus 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 and does not have a domicile of origin in Cyprus based on the provisions of the Will and Succession legislation.

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