Relocation and change of tax residence
Changing your tax residency can significantly enhance your financial freedom and provide numerous tax benefits.
We specialize in guiding digital nomads, entrepreneurs, and expats through the process of relocating and establishing a new tax residency, in an efficient and safe way.
Understand the Implications of Changing Tax Residency
Relocating and changing your tax residency involves financial and legal considerations. Here’s what you need to know:
- Tax and Compliance Costs
Transferring assets and changing your tax residency can involve costs and charges. Our team ensures you understand and minimize these costs. - Minimizing the Risk
Some countries impose exit taxes on individuals or companies relocating. We explain international and local tax rules, as well as tie-breaker rules from double tax treaties that are significant for your case. We make sure how to safeguard your residence in the new place and avoid tax risks from the country of the previous tax residency. - Legal Protection
Ensuring the legal protection of your assets is crucial when relocating. Our experts handle all necessary documentation and ensure what type of entity works best for you (like a branch of an existing company vs a new company to be registered).
Why become a tax resident in Cyprus?
Exemption for Non-Domiciled Residents
Non-domiciled tax residents are exempt from the Special Defense Contributions (SDC) tax on passive income: from dividends, interest income, and rental income for up. The non-dom status reduces your tax burden on global income for the 17 years.
No Capital Gains Tax
Gains from the sale of shares are generally tax-exempt, and there are no capital gains taxes on the sale of foreign property.
Low Personal Income Tax Rates
Tax residents in Cyprus benefit from personal income tax rates starting as low as 0% for income under €19,500.
No Wealth, Inheritance, or Gift Tax
Cyprus does not impose inheritance tax, estate duty, gift tax, or wealth tax.
Flexible Residency Rules
Cyprus offers a 60-day residency rule, allowing individuals to qualify for tax residency by spending at least 60 days in the country (non-consecutively).
Expat Incentives
New tax residents can enjoy a 50% tax exemption on employment income exceeding €55,000 per year - for the first 17 years of residency. Ideal option for high-earning individuals relocating to Cyprus!
Foreign Tax Relief
Residents with foreign income who have been subject to foreign tax are entitled to a relief in the form of a tax credit against tax payable in Cyprus.
Double Tax Treaties
Cyprus has an extensive network of over 65 double tax treaties, ensuring that you avoid double taxation on your income and investments in other countries.
Your Relocation Journey Starts Here
Effortless Tax Residency Transition in 5 Simple Steps
01. Strategize
Our team evaluates your situation and creates a customized relocation plan to optimize the benefits of your new location.
02. Establish
We assist you in meeting the requirements, ensuring you qualify for tax residency, and securing your Tax Residency Certificate efficiently.
03. Comply
All compliance requirements, including necessary documentation and filings, can be managed by us if you wish so that you to focus on transitioning to your new life without stress.
04. Relocate
Whether relocating as an individual or moving your business operations, we provide end-to-end support to establish your presence.
05. Manage
We guide you through the process, minimizing any exit taxes or charges from your previous jurisdiction, including assistance with company management and control.
Unlock Your Financial Freedom Today
Relocating and changing your tax residency is a strategic step toward achieving financial freedom and accessing more favorable tax regimes. We guide you through the relocation process and ensure you capitalize on the best opportunities.
Ready to Elevate Your Financial Freedom?
Whether you’re planning to relocate, establish tax residency, or explore new financial opportunities, our team is here to make your transition smooth and strategic.