NON DOM status

Benefits arising from non-dom status in Cyprus are the best in Europe.

You may have wondered why super-rich people, such as Russian oligarchs, like to live in London. The reason goes back to a law passed in 1799. At that time, the costly wars devoured more and more money. For this reason, income tax was introduced.

However, the new law led to a problem. The urgently needed production from the colonies was not allowed to be impaired by taxes. For this reason, income from the colonies was not subject to income tax as long as it was not imported into England. 

No tax law without special rules!

The entire territory of Cyprus is a member of the EU. However, the tax benefits only apply to the Republic of Cyprus. The territory covers about two-thirds of the island and is located in the south. 

Non Dom stands for "Resident but Non-Domiciled".

The following advantages result from the Non Dom status in Cyprus:

• You or your ancestors are not from Cyprus. This means that you were not born in Cyprus. 
• Proof of residence in Cyprus must be provided.
• The applicant must reside in Cyprus for a total of 60 days, including several dates, instead of the usual 183 days.

The following advantages result from the Non Dom status in Cyprus:

• As a shareholder in a company, profit sharing or dividends are not subject to income tax.
• The income tax exemption applies not only to companies based in Cyprus, but also to offshore companies and foreign companies worldwide.
• Companies can operate almost without restriction with offshore companies and bank accounts in Cyprus.
• This allows a high degree of flexibility, e.g. for offshore companies.

We expressly point out that we do not offer or provide legal or tax advice. The information is based on research from various sources, and we accept no liability for its accuracy.

We will be happy to provide you with the names of competent and predominantly German-speaking partners.

Status 03/2019