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Cyprus Tax Residency

The "60 day rule" on Tax Residency applies to individual who in the relevant tax year

  1. are not residents in any other single state for a period exceeding 183 days in aggregate;
  2. are not tax residents in any other state
  3. reside in Cyprus for at least 60 days
  4. have employment /business ties in Cyprus or be a director of a Cyprus which is a Cyprus tax resident
  5. maintaining a permanent residence in Cyprus for the tax year in question by either owning a dwelling home or renting a home in Cyprus.

The current "183 day rule" applying where an individual remains in Cyprus for more than 183 days in the tax year, without any further additional conditions remains in place and from tax year 2017 an individual is considered a tax resident in Cyprus if he/ she satisfies the "183 day rule" or the "60 day rule".

For the purposes of "60 day rule" and the "183 day rule" days in and out of Cyprus are calculated as follows:

  • the day of departure from Cyprus counts as a day of residence outside Cyprus
  • the day of arrival into Cyprus counts as a day of residence in Cyprus
  • departure and arrival into Cyprus on the same day counts as one day of residence outside Cyprus.

Individual who are Cyprus tax residents, whether on the basis of the "183 day rule" or the "60 day rule" are subject to tax in Cyprus on their worldwide income but certain exemptions apply.