Private Wealth 2019

1. TAX

1.1 Tax Regimes

Before examining the tax regimes that apply to individual clients in Cyprus, it is important to draw a distinction between residents and non-residents in Cyprus, as well as between persons who are domiciled in the Republic and those who are not. Each of these categories will be described separately below.

Income Tax

Cyprus tax residents will be taxed in Cyprus on their worldwide income. Income tax is payable at the following rates:

Any dividend or interest income and any gains from the disposal of securities or arising from an approved corporate restructuring are fully exempted from taxation at the above rates, although some such income remains subject to the Special Defence Contribution, which will be analysed below. There are also various exemptions for income from