New Cyprus tax incentives for persons wishing to transfer their tax residence to Cyprus
Individuals can transfer their tax residence to Cyprus if they are not considered tax residents in any other state
In particular, an individual may now be considered a tax resident in Cyprus if he/she is not considered a tax resident of any other state and if he/she does not remain in that other country for more than 183 days in the relevant fiscal year. The individual should also not be considered a tax resident in any other country for the same fiscal year
For an individual to be considered a tax resident in Cyprus, he/she should:
The person should also have a permanent residence in Cyprus owned or rented by the same
An individual who cumulatively fulfills the above conditions shall not be considered a tax resident of Cyprus in the relevant tax year if in that year terminates any activity / business and / or any post (eg manager, director)
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