This guide is written for individuals, families and companies relocating to Cyprus. Rules change regularly and individual circumstances vary, so speak to a Tsquared accountant before acting. We regularly help clients with becoming tax resident, non-dom registration, new-resident income exemptions.
Key points
- Declare worldwide income
- Claim exemptions
- Foreign tax credits
- Deadline usually 31 July
Challenges you face, solutions we provide
Challenge: Becoming tax resident
Our solution: Residency planning under the 183-day and 60-day rules with certificates obtained
Challenge: Non-dom registration
Our solution: Non-dom applications and 17-year SDC planning handled end to end
Challenge: New-resident income exemptions
Our solution: 50% and 20% exemption claims built into your payroll from month one
Challenge: Moving a business or team
Our solution: Company or branch set-up, substance and payroll ready before you arrive
Challenge: Exit tax in the home country
Our solution: Exit-tax review with your home-country adviser so nothing is taxed twice
Frequently asked questions
- Your first Cyprus tax return: what's the short answer?
- 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.
- Can Tsquared help with your first cyprus tax return?
- Yes. We advise individuals, families and companies relocating to Cyprus in Cyprus on your first cyprus tax return and handle the filings for you.