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Non Domiciled Tax Status - Application
Non Domiciled Tax Status - Application

Enjoy worldwide tax free dividends!

Cyprus has introduced a very attractive tax incentive scheme called the "non dom" tax status specifically designed for shareholders who want to enjoy worldwide tax free dividends from their personal companies and positions.

€800.00

The non dom is a special tax status for overseas applicants or even Cypriots who have not been living in Cyprus for 17 out of the last 20 years.  It is a very effective tax measure adopted by the government in order to attract High Net Worth Individuals in the Republic; owners or investors of private companies, regulated investment companies and funds.

To become a Cyprus Non Domiciled person, a “non dom”, the applicant must firstly become a Cyprus Tax Resident where he or she will receive her Cyprus Tax Identification Number and then with the help of our team will apply to the ministry of finance to get this special tax status which is valid for 17 years.

In a nutshell, such a person can enjoy tax free dividends across the globe (as far as Cyprus is concerned) and tax free passive interest income by staying in Cyprus for only 60 days and not staying anywhere else for more than 180 days.

Like all tax incentives certain requirements and restrictions apply! See "Conditions" tab.

Conditions for the Cyprus Non Dom Tax Scheme:

  • They have not been living in Cyprus 17 out of the last 20 years in Cyprus (i.e they are not Cyprus domicile)
  • And they have been staying in Cyprus at least 60 days (day in and out from Cyprus counts as a day of stay in Cyprus)
  • And have not stayed more than 183 days in any other jurisdiction
  • And are not tax residents anywhere else in the world
  • And have defined Cyprus ties such as a Company or a business contact from Cyprus

Note: Origin of domicile is defined at birth and as a rule is the domicile of the father and in some rare instances / occasions of the mother.

Example of Eligibility

If you are a shareholder receiving large amounts of dividends in high tax jurisdiction and you travel a lot then you should consider the possibility of changing your tax residency as the tax benefits, savings of 0% dividend tax outweigh any possible inconvenience such as travelling to Cyprus for a few days which is a great opportunity to meet up with high level tax advisors and lawyers who can assist you with your existing and other business issues.

In addition as trading in securities is entirely tax free in Cyprus, tax free dividends and trades are perceived as irresistible benefits by a portion of our clients.

More information about Cyprus

Related information

Additional Benefits

Cyprus first employment in the republic tax incentives appears to be extremely attractive to high income earners as remuneration exceeding Euro 100,000 enjoys a 50% personal income tax discount for the first 10 years of employment in the Republic of Cyprus.

Cyprus "Non Dom" Status in 60 Days!!! Cyprus's Wildest Tax Card!!!

In its effort, which is proving to be very successful, to attract Ultra Net Worth Individuals Cyprus has introduced the Special Cyprus Tax Status Called the "Non Dom Status" where anyone can be Considered a Cyprus Non Domiciled Tax Resident enjoying therefore the following Tax Benefits:

  • Worldwide Tax Free Dividends
  • Worldwide Tax Free Passive Income
  • Tax Free Disposal of Securities are
  • Employment in Cyprus - Significant Salary Tax Reduction 
  • ("First Employment in the Republic" rules)
  • Employment Outside Cyprus – Tax Free Income
  • And Many More...

The Most Attractive Tax Benefit of all is the Tax Free Dividend Income on the World Wide Income!!!! This implies that Ultra / High Net Worth Individuals receiving Hundreds or Millions of Dividends from various jurisdictions will be Tax Free in Cyprus under this special scheme.

Conditions for persons obtaining the "Non Dom" Status:

  • Have not been a Cyprus Tax Resident 17 out of the last 20 Years (i.e you have not been a Cyprus Domicile*)
  • and
  • > 60 Days of Stay in Cyprus Only! 
  • and
  • < 183 Days of Stay in any Other Jurisdiction
  • and
  • Are Not Tax Residents Elsewhere
  • and
  • Have Defined Cyprus Ties:
  • such as
  • Rent or Own Permanent Resident in Cyprus 
  • and / or
  • Contacting Business / is an Employee / is a Cyprus Company Director 
  • ===>
  • Are Eligible for the "Non Dom" Status
  • * Origin of domicile is defined at birth and as a rule is the domicile of the father and in some rare instances of the mother.

Conclusion

Shareholders receiving Significant Dividends thus Paying Large Dividend Taxes in their country of tax residence should assess the possibility of Changing their Tax and Domicile Status as the Huge Tax Benefits offered by the Republic of Cyprus under this scheme Outweigh any Inconvenience (namely traveling to Cyprus for few days and some administration time spend with accountants and tax experts to gather the necessary documentation for the application).

In addition the "Non Dom" Status appears to be Extremely Attractive to our clients who Trade in Securities which are Tax Free and to clients with Remuneration Exceeding Euro 100,000 as they enjoy a 50% tax discount for the first 10 years of their employment in the Republic of Cyprus. Other smaller tax benefits also apply.

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