Summary of Corporate Tax in Cyprus

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The following sources of income are exempt from corporate income tax:

Dividend income;
Interest income, excluding income arising in the ordinary course of business, which is subject to corporation tax;
Foreign exchange gains (FX), with the exception of FX gains arising from trading in foreign currencies and related derivatives;
Gains arising from the disposal of securities.
Personal Taxation
Tax Residence in 183 days
If an individual becomes tax resident in Cyprus by spending more than 183 days in Cyprus kuwait mobile database in any one calendar year, they will be taxed on income arising in Cyprus and also on foreign source income. Any foreign taxes paid can be credited against the personal income tax liability in Cyprus.

Tax Residence under the 60 Day Tax Rule
An additional scheme has been implemented whereby individuals can become tax resident in Cyprus by spending a minimum of 60 days in Cyprus, provided that certain criteria are met.

Non-Domicile Tax Regime
Individuals who were not previously tax resident can also apply for non-domicile status. Individuals who qualify under the non-Domicile Regime are exempt from tax on; interest*, dividends*, capital gains* (apart from capital gains derived from the sale of immovable property in Cyprus), and capital sums received from pension, provident and insurance funds. In addition, there is no wealth and no inheritance tax in Cyprus.

*subject to contributions to the General Health System at the rate of 2.65%.