Non domiciled enables investors / shareholders to worldwide tax free dividend income
Conditions for Cyprus Non Dom Tax Residents:
- 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.
1. Is it compulsory to rent a property
The non dom application success is subject to the discretion of the examiner reviewing the application. As such the principle of "the more the merrier" applies.
Even though it is not compulsory, it is advisable, especially in cases where the applicant is not on the payroll of the Company
2. Is it necessary to register for payroll - be an employee of my company?
In the event that you are not a retiree returning to Cyprus to relocate then it is advisable to set up your own company and become an employee of your company.
About Us
CYAUSE Audit Services has extensive experience in the insurance industry has helped tens of insurance brokers and agents register and get licensed by the local Cyprus regulator granting them passporting access to the rest of the European Union.
CYAUSE Audit Services is an Audit & Assurance firm with offices in Cyprus and the UAE. During 2015 we have been awarded by I.C.P.A.C and the A.C.C.A (local and international association of Chartered Certified Accountants) for the Quality of our Audit Services and our Office's Procedures.
Being a Truly International Audit & Assurance firm, we have associates from all over the world and we are constantly looking for new associates to expand our network further. At present, CYAUSE Audit Services operates internationally through its membership with BKR International amongst the largest American associations in the world, Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience. Our network covers almost 40 jurisdictions with over 2,000 professionals, it supports more than 10,000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and processes at least 170,000 payslips globally.
CYAUSE Audit Services Ltd is also a member of BKR International one of the biggest US Accounting Associations of the word and the 3E Accounting Network, an international accounting network which originates from Hong Kong and has more than 80 members from all over the world.
Learn More about Cyprus Corporate Environment
Information about CYAUSE Audit Services and the Cyprus Corporate & Tax System can be obtained from our Website or our YouTube channel which provides valuable information about the Corporate & Tax Environment of Cyprus.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
