60 Day Rule - The ease of Tax Residency in Cyprus

60 Day Rule - The ease of Tax Residency in Cyprus

If you are a European entrepreneur you have probably already heard of the Cyprus Non-Domicile tax exemptions available. With benefits such as 0% Dividends Tax, 0% Wealth Tax, it's hard for these to remain a secret for long within the business community, but how hard is it to be a Cypriot Tax Resident?

Well it turns out that being a Cypriot Tax Resident is actually quite easy, all thanks to the 60 day rule.

The 60 day rules allows for businessmen to still travel the globe and increase their ventures while enjoying the benefits of Cypriot Tax Residency. The person in question only needs to be present in Cyprus for 60 days out of the year to be eligible.

In addition to being in Cyprus for 60 days, the businessman must not reside in any other one nation more than 183 days of the year, or be a tax resident in another country, which will not be any problem to most traveling around the globe for business or enjoyment.

Furthermore the person must rent or own a home in Cyprus, and must work or have a business in Cyprus. Having a registered business in Cyprus is also a no-brainer for many with only 12.5% corporate tax, and the 0% dividends tax when combined with Non-domicile residency.

So thanks to the 60-day rule, tax residency is accessible to many entrepreneurs and businessmen who want to combine great island lifestyle, in a European nation, with low Corporate Tax, 0% Dividends Tax, and a thriving commercial environment.

To learn all about the amazing business and tax benefits, you can see our Company, Individual & Family, and Immigration Benefits.

Written November 2019