“Non-dom” exemption rule for individuals
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Among other amendments to tax laws passed by the Cyprus Parliament, the concept of the so-called “non-domicile” or “non-dom” rule was set effective as of 15th July 2015 and the Special Defence Contribution (“SDC”) Law was amended so that (i) a Cyprus tax resident individual who is (ii) not domiciled in Cyprus will be exempted from paying SDC in Cyprus on any income derived from dividends, at the rate of 17%, interest, at the rate of 30%, and rental, irrespective of whether such sources of income are earned in Cyprus or abroad.
The introduction of the non-dom regime, had been widely acknowledged as the most attractive personal income tax regime in the entire tax world and it constitutes Cyprus as one of the best jurisdictions in the world as it entices high-net-worth individuals and corporate entities to take up residency in Cyprus and use Cyprus companies as part of their international tax planning.
Learn more about the requirements for obtaining the non-domicile status in Cyprus by downloading our brochure below or by contacting us at firstname.lastname@example.org