Individuals

Individuals staying in Cyprus for more than 183 days are taxed in Cyprus on their worldwide income. They may claim as a tax credit tax already paid on overseas income.

Benefits:
  1. Foreign people with income from high tax jurisdictions may stay in Cyprus for at least 183 days and be taxed at maximum 35% (with the first EUR19.500 tax free).

  2. Foreign pensioners may stay in Cyprus for at least 183 days and elect to have their foreign pension taxed at only 5% (with approximately EUR3.500 tax free).

  3. Exemption 20% from employment (maximum amount EUR8.550), for individuals not resident in Cyprus before the commencement of his/her employment, starting from January of the year following the year during which the employment commenced (Exemption for 5 years).

  4. Exemption 50% from Employment Income when the Income exceeds the amount of EUR100.000, for an individual who was not resident in the Republic before his/her employment in the Republic, (Exemption for 10 Years).

  5. Non-domiciled individuals are exempt from taxes on interest and dividends earned abroad.
 






AN INTERNATIONAL ASSOCIATION OF INDEPENDENT ACCOUNTING FIRMS