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Accountants for Relocation to Cyprus in Cyprus
Tsquared guides people and businesses relocating to Cyprus through tax residency, non-domicile status, the 50% and 20% new-resident income exemptions, company set-up and payroll from day one.
Challenges you face - solutions we provide
The problems individuals, families and companies relocating to Cyprus bring to us, and exactly how we solve them.
Guides for Relocation to Cyprus
The 183-day residency rule
You become Cyprus tax resident under the 183-day rule if you spend more than 183 days in Cyprus in a calendar year, regardless of where else you live.
The 60-day residency rule
The Cyprus 60-day rule lets you become tax resident after just 60 days if you are not resident elsewhere, spend under 183 days in any other country, and have Cyprus work and a home.
Cyprus non-dom status
Cyprus non-domiciled residents pay no Special Defence Contribution on dividends, interest and rental income for up to 17 years, making Cyprus one of the most attractive EU bases.
The 50% income exemption
New Cyprus residents earning over €55,000 a year from Cyprus employment can claim a 50% income tax exemption for up to 17 years if they were not previously Cyprus resident.
The 20% income exemption
First-time Cyprus employees can exempt 20% of employment income, up to €8,550 a year, for seven years, as an alternative to the 50% exemption.
Moving your business to Cyprus
Relocating a company to Cyprus usually means establishing management and control on the island, registering a local company or branch and meeting substance requirements.
Tax for relocating families
Families moving to Cyprus should plan each spouse's residency, schooling costs and pension income together, as Cyprus taxes individuals separately rather than as a household.
Digital nomad visa and tax
Cyprus digital nomad visa holders who stay over 183 days become tax resident, so remote workers should plan which country taxes their salary before they arrive.
Foreign pensions in Cyprus
Cyprus residents can choose to pay a flat 5% tax on foreign pension income above €3,420 a year instead of normal income tax rates.
Leaving your home country
Before relocating to Cyprus, check exit taxes, split-year rules and deregistration in your current country so you do not remain taxable there.
Getting a Cyprus TIN
Every new Cyprus resident needs a Tax Identification Number from the Tax Department, which we register on your behalf through the TaxisNet portal.
Opening a Cyprus bank account
Cyprus banks need proof of address, source of funds and tax residency before opening accounts, and a well-prepared file shortens the process considerably.
Relocating employees to Cyprus
Companies moving staff to Cyprus can use the Business Facilitation Unit for fast work permits and apply the 50% exemption through Cyprus payroll from the first month.
Your first Cyprus tax return
In your first year in Cyprus you file a TD1 declaring worldwide income from the date you became resident, claiming any new-resident exemptions and foreign tax credits.
Talk to a Cyprus accountant this week
Free 30-minute consultation. Clear fixed-fee proposal.