Amendment of the term “Cyprus tax resident individual”

nconstantinou — Mon, 17 Jul 2017 13:49:09 +0000

Effective from 1 January 2017, an individual is considered a Cyprus tax resident if he/she:

does not spend more than a total of 183 days in any State/Country within a tax year and
is not a tax resident of another State/Country within the same tax year

and satisfies the following three conditions:

remains in Cyprus for at least 60 days in the tax year;
carries on a business in Cyprus or is employed in Cyprus or holds an office in a Cyprus tax resident person at any time during the tax year and
maintains a permanent home in Cyprus that is either owned or rented

The standard rule of 183 days is still in force therefore, a person residing for more than 183 days in Cyprus is considered a Cyprus tax resident irrespective of the newly introduced conditions.

residency – N. Constantinou & Co Audit Ltd | Cyprus Audit, Tax, Company incorporation, Consulting

Amendment of the term “Cyprus tax resident individual”