Passport and Tax
Passport and Tax
According to the Income Tax Law 118(I) of 2002, (Section I, Article 2), an individual is resident in Cyprus, if he/she resides therein for a period or more which in aggregate exceed 183 days.
| Currency | EUR |
| Accounting Principles | IAS |
| Individual Worldwide Tax Basis | Deemed a domiciled resident, or resident having a minimum of 183 stays in a year. |
| Fast Track Citizenship |
| Starting Taxable Income | 19,501 |
| Starting Income Tax Rate | 20% |
| Highest Income Tax Rate | 35% |
| No Individual Capital Gain Tax |
| No Net Worth Tax | |
| No Gift Tax | |
| No Inheritance Tax | |
| Dividend Tax | 17% |
| Interest Tax | Combined income |
| Income Tax Rate | 12.5% |
| Branch Tax Rate | 12.5% |
| No Capital Gain Tax |
| Dividends (Company) | 0% |
| Interest (Company) | 0% |
| Royalties (Company) | 0% |
| Fees for Technical Services (Company) | 10% |
| Dividends (Individual) | 0% |
| Interest (Individual) | 0% |
| Royalties (Individual) | 0% |
| Fees for Technical Services (Individual) | 10% |
| Dividends (Company) | 0% |
| Interest (Company) | 0% |
| Royalties (Company) | 0% |
| Fees for Technical Services (Company) | 0% |
| Dividends (Individual) | 0% |
| Interest (Individual) | 0% |
| Royalties (Individual) | 0% |
| Fees for Technical Services (Individual) | 0% |
| Stamp Duty | 0.15%-0.2% |
| Transfer Tax | 3%-8% |
| Real Property Tax | None |
| Standard Rate | 19% |
| Reduced Rate | 0%/5%/9% |
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