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ARTICLE · 29 SEPTEMBER 2017

Cyprus Tax Residency Rules Amended

A.G. Erotocritou LLC
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In July 2017, the Cyprus Parliament approved a legislative proposal amending Section 2 of the Income Tax Law (ITL) and introducing an additional provision for determining Cyprus tax residency for individuals.

CyprusTax
A.G. Erotocritou LLC
A.G. Erotocritou LLC
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In July 2017, the Cyprus Parliament approved a legislative proposal amending Section 2 of the Income Tax Law (ITL) and introducing an additional provision for determining Cyprus tax residency for individuals.

Until now, an individual could be considered a Cypriot tax resident only if he stayed in the Republic for more than one hundred and eighty-three (183) days in a tax year. The new "60-day rule" creates an alternative whereby an individual can still be considered a Cypriot tax resident even if he/she spends less than 183 days in the relevant tax year in the Republic of Cyprus but cumulatively meets the following conditions:

  • Stays in the Republic for at least sixty (60) days in the relevant tax year; and

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