Non-Domicile Status

Non-Domicile Status

Cyprus government introduced the concepts of ‘domicile’ and ‘non-domicile’ (Non-Dom) through an amendment of the Special Contribution for the Defence of the Republic of Cyprus Law of 2002 (SDC Law) in July of 2015. Since then, an individual who is  non-domicile (not born and raised in Cyprus) can enjoy the features of Non-Dom.

WHO QUALIFIES FOR NON-DOM:

An individual who is not a Cyprus resident.

An individual who receives Dividends, Interest or Royalties from abroad.

Entrepreneurs who travel internationally or have businesses abroad

FEATURES:

Non-Dom lasts for 17 years

It is reviewed and renewed every 3 years.

All Dividends, Interest or Royalties received will be taxed at 0%.

Needs to pay only 2.65% for General Health insurance on the first €180,000 received which sums up to €4,770.

REQUIREMENTS:

Tax Identification Code (TIC)

Tax Residency in Cyprus

Birth Certificate as a proof that the individual was born in another country.

Individual needs to follow the 60 days rule.

PROCEDURE AND TIMELINE:

Filling and submitting a form. The original Non-Dom certificate takes up to 3 to 4 months to be issued. However, the individual can start claiming Dividends, Interest, Royalties from the day of submission.

Ariadne

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