Cyprus Limited + Non Domicile

The Cyprus Non-Domicile Regime aims to encourage more international entrepreneurs and high-net-worth individuals to live in Cyprus. This step is intended to help improve the country's economic situation and secure its position as a hub of the international economy.

The term "resident but not domiciled," also known as Non-Dom, was passed as a law in July 2015, which offers entrepreneurs and wealthy people from abroad far-reaching advantages:

• No tax on income from dividends
• No taxes on interest income
• No tax on any income abroad
• Small minimum presence requirement (60 days)
• Access to health care and social security
• guaranteed tax benefits for 17 years

The Cyprus Non-Domicile Regime provides excellent opportunities to all investors who wish to achieve optimal tax planning for better savings.

The main advantages are:

• no tax on dividends
• no tax on any income abroad
• no tax on crypto profits
• no tax on interest and crypto staking rewards
• access to health care and social security
• only 60 days of presence are required
• the program is guaranteed for 17 years

The program aims to use a far-reaching tax reform that allows more international investors and wealthy private individuals to reside in Cyprus to enhance economic development and secure a position as a jurisdiction in the global economy.

Read more about the Cyprus Non-Dom program in our comprehensive guide "Becoming a Non-Domicile in Cyprus."

Almost every foreign Cyprus resident can benefit from the Non-Dom system since the law doesn't impose any financial threshold or distinctions for EU and third-country nationals. However, there are several variances if you wish to obtain a visa to reside in the country based on your EU, non-EU, or financial status.

You have no visa restrictions if you are a national of EU countries. If you are a third-country national, you must apply for a permanent resident permit.

Simply put, If neither you nor your parents were born in Cyprus and you have not been a Cyprus tax resident in the last 20 years (or for no longer than 20 years in total).

Next, you need to become a Cyprus tax resident. In January 2017, the tax residency regulations were amended into the 60-day rule. To become a Cyprus tax residence under the 60-day regulations, you need to meet the following requirements:

1. You must remain in Cyprus for at least 60 days during a tax year.
2. You must conduct business activities, get employed, or hold an office with a Cyprus tax resident company.
3. Maintain a permanent residence in Cyprus by renting or owning a home.

To start the immigration process, you need an address in Cyprus. Your local tax consultant is always available as a contact. He will help you with the housing search.

Please note that you also need a rental agreement or property for the parallel registration of your Cyprus Limited. Your residential and company address may be identical.

Small furnished apartments are available from €400 per month. For a decent apartment, you will have to pay at least 600€. In Paphos, apartment prices are slightly lower. In Limassol, it is significantly more expensive.

Once your company has been successfully registered, we will arrange an appointment at the immigration office. There, you will receive your "Yellow Slip" (Immigration Document and your Alien ID Number). The next step is to apply for your social security and tax number.

At the end of the year, we apply for your Non-Dom certificate. Your Non-Dom Status is valid from the date of application. The final certification can take up to one year.

Our web application process covers all the steps mentioned.

It always depends on when your Non-Dom application has been requested. As a rule, it is applied at the end of the year because, among other things, you have to prove that you are a Cyprus tax resident and paying social contributions.

Your Non-Dom status is valid from the date of the official request. Your consultant will upload the request confirmation. From now on, it may take 6-18 months before it is fully granted with the delivery and upload of the Non-Dom certificate.