Several Reasons To Take Advantage Of The Cyprus Non-Domicile Tax Regime

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Cyprus is an attractive option for individuals who are considering a change of their tax residency.

This island offers; a warm climate, good infrastructure, convenient geographic location, membership of the EU, tax advantages for companies and incentives for individuals through the Cyprus non-domicile regime.

Main Benefits of Legislation Passed in 2015
A change in the tax legislation took effect on the on 16 July 2015

Among the approved changes in Tax Legislation, individuals qualifying under the Non- kenya mobile database Domicile tax regime are exempt from the ‘Special Defence Tax’ (SDC).

SDC taxation is a taxation levied on individuals when receiving certain sources of income. Through the SDC exemptions granted, Individuals qualifying under the Non-domicile Tax regime are now exempt from taxation on the following sources of Income:

Interest; and
Dividends; and
Capital gains (other than on the sale of immoveable property in Cyprus); and
Capital sums received from pensions, provident and insurance funds; and
Capital sums remitted to Cyprus
All of the tax benefits detailed above are enjoyed even if the income has a Cyprus source and/or if it is remitted to Cyprus.

In addition there are: NO wealth and NO inheritance taxes in Cyprus.