By: N. Pirilides & Associates LLC
The current tax treatment for UK resident non-domiciled individuals (non-doms) will be abolished from 6 April 2025.
This undeniably presents a unique opportunity for Cyprus to emerge as a leading choice for efficient tax planning. With its strategic location, EU membership and favourable tax regime, Cyprus offers a compelling proposition for those affected by the UK’s policy shift as well as others seeking tax-efficient solutions.
Foreign individuals seeking to relocate to Cyprus may benefit from the non-domiciled resident program which has provided the qualifying individuals with substantial benefits for up to 17 years, and has gathered increasing international attention since its introduction in 2015. The advantageous 60-day route is also an option for foreigners to become tax residents in Cyprus.
The pathway to become a tax resident in Cyprus and subsequently enjoy the benefits of the national tax regime encompasses both substantial and procedural particularities and therefore entails the involvement of an expert. Our firm has a vast experience in tax, residency and other relevant matters. For any inquiries and/or assistance you may contact us at [email protected].
