DISCOVER THE BENEFITS OF NON DOMICILE (NON DOM) STATUS with Schengen Access in 2025
Cyprus is not only a yearly round holiday destination, the European island offers many tax advantages that can enhance Investment returns and promote wealth preservation for international investors and expatriates.
Non-Domicile (Non Dom)
The “non-domicile” (NON DOM) status is a special tax residency in Cyprus that provides significant tax advantages. It is available to individuals who have not resided on the island for 17 out of the last 20 years, and which requires you to spend more than 183 days per year in the country or follow the 60-day rule under specified conditions. The 60-day rule allows individuals to qualify as
Tax residents if they:
Do not reside in any other single country for more than 183 days
Are not tax residents in any other country
Spend at least 60 days in Cyprus
Have other significant ties to Cyprus, such as owning or renting property, or running a business
THE MAIN TAX ADVANTAGES INCLUDE:
Non-doms are exempt from the 17% Special Defence Contribution on dividends
Income: Non-doms are exempt from the 30% SDC on interest income, which makes Cyprus particularly attractive for individuals with significant interest-bearing investments.
Rental Income: Non-doms are exempt from the 3% SDC on 75% of gross rental income, significantly reducing the effective tax rate on rental income
0% inheritance or wealth tax
0% tax on world-wide dividend income
0% tax on interest income
0% capital gains tax
0% withholding tax
Whether you choose to purchase and rent out properties, use them as short-term vacation rentals or live in them for part of the year, Cyprus offers lucrative opportunities for property investors,
We are here to assist you in navigating the best strategies to maximize your returns. Our associates expertise will guide you through every step, from selecting prime properties to managing your investments efficiently, ensuring you achieve the highest possible income.
Cyprus Will Join Schengen in 2025
President Nikos Christodoulides Announces Cyprus Will Join Schengen in 2025, US Visa Waiver Talks Advance
Fewer than two weeks after Romania and Bulgaria joined, Cyprus announces its plan to join the Schengen Zone in 2025
The post President Announces Cyprus Will Join Schengen in 2025, US Visa Waiver Talks Advance appeared first on IMI - Investment Migration Insider.
Property Also Available that is not part of the Permanent Residency Programs
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Properties available starting from a guide price of around €150,000
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Prices from a guide price of €370,000