Tax Incentives For Relocation To Cyprus

As of 10 May 2022, a new tax incentive scheme was approved by the Council of Ministers of the Republic of Cyprus, in an attempt to attract talented professionals from all over the world, in Cyprus. This new scheme has been introduced as facilitating the headquartering of foreign businesses to Cyprus and the relocation of talented, high-skilled employees and their families to Cyprus, seeking also to facilitate the repatriation of Cypriot professionals currently living and working abroad, by offering them the same benefits as their foreign counterparts.

More specifically, based on the current tax system, people who work in Cyprus but are non-residents of Cyprus and earn more than EUR 100,000 per year can benefit from 50% tax exemption on their employment income for the first 10 years of employment.