Cyprus Taxation

Benefits of the Cyprus Tax System

 

  • 12.5% Corporation Tax on company profits is one of the lowest rates in Europe. Effective tax rates can be as low as 2.5% when applying notional interest deduction (NID).

  • Access to EU double tax treaties with over 60 countries.

  • Access to all EU Tax Directives.

  • An attractive personal income tax regime for individuals and foreign professionals.

Personal Income Tax

One is considered a tax resident in Cyprus if he or she is physically present on the island for 183 days and above throughout the calendar year.

 

As of January 1st, 2017, the rule has been amended whereby an individual residing in Cyprus for less than 183 days is considered a tax resident if the following conditions are met:

  • The individual satisfies the ’60-day rule’ meaning the individual stays in Cyprus for at least 60 days of the tax year and is not a tax resident in any other country.

  • The individual deals in business in Cyprus, and/or holds an office and/or is employed by a tax resident company during the year.

  • The individual owns or leases a permanent residence in Cyprus.

London Office:

+44 20 3086 9282

118 Pall Mall, London, SW1Y 5EA

Cyprus Office:

 +357 24 253 737

10 Ifestou, Larnaca, 7102

Mumbai Office:
 +91 227 127 9329​

One Indiabulls Tower 2a, 8th floor,

Lower Parel, Mumbai, 400013

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