The Cyprus Parliament voted the extension of the deadline for submitting tax returns of Companies and Individuals for the year 2020 for 4 months.
Individuals who are interested to live or work in Cyprus, can take advantage of various immigration permits. The immigration permits available are either permanent permits or temporary permits with several advantages according to the individual’s needs. Our company can assist you with all types of permits. An outline of the available permits can be found below.
Brief summary of the Cyprus Tax system for individuals residing from abroad
A physical person’s liability to Cyprus tax is determined by their residence status for taxation purposes. The general rule applying for the tax basis of an individual is that where the individual is considered a tax resident in the Republic, tax is imposed on his/her income accruing or arising from sources all over the world (both within and outside the Republic). On the other hand, where the individual is not a tax resident in the Republic, tax is imposed on his/her income accruing or arising only from sources within the Republic.