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:
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)
Please contact us for a personal consultation on:
The authors expressly disclaim all and any liability and responsibility to any person, entity or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this publication.
Accordingly no person, entity or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors, and ensuring that such advice specifically relates to their particular circumstances.
PKF Cyprus firms are member firms of the PKF International Limited network of legally independent firms and do not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms.