A person who is a tax resident in Cyprus is liable to pay Cyprus Income Tax (CIT) on their worldwide income, from all sources.
Additionally, domiciled residents of Cyprus pay a Special Defense Contribution (SDC) on their passive income derived from dividends, interest, and rentals as per the following rates:
The Non-Dom Status in Cyprus is a tax regime that enables non-domiciled tax residents to effectively reduce their tax obligations by exempting them from Special Defense Contribution (SDC) for a period of 17 years.
Consequently, these individuals -when receiving dividends – are not subject to any taxes at a rate of zero percent. Instead, they are solely liable for a contribution of 2.65% towards the General Health System, with a maximum cap of 4,770 EUR as payable contributions.
Obtaining non-domicile status involves acquiring a certificate from the Tax Authorities, a process that typically takes around three weeks following the submission of the application and all required documentation.
The test starts with the following questions:
Yes, then the individual is Domiciled in Cyprus
No, then move to question 2.
Yes, move to question 3.
No, then the individual is considered as Non-Dom.
Yes, then the individual is considered a Non-Dom.
No, move onto question 4.
Yes, move to question 5.
No, the individual is domiciled in Cyprus.
Yes, then the individual is considered a Non-Dom.
No, then individual is considered as domiciled in Cyprus.
At IBCCS Tax, we’re ready to assist you in obtaining Non-Dom Status. Our team of experts will manage your application on your behalf, providing you with the advantage of a tax-efficient regime and numerous exemptions.
By entrusting us with your Non-Dom Status application, you’re choosing a partner committed to your financial well-being. Our experience, knowledge, and attention to detail ensure that your application is accurately completed, all necessary documentation is correctly submitted, and any potential challenges are proactively managed.
Reach out to us by clicking on the button here.
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