The local tax favors high net worth individuals, investors, or entrepreneurs who want to setup a startup or relocate with their families or businesses due to the various tax benefits.
Every physical person who settles in the republic has to obtain a Cyprus Tax Identification Number. The acquisition of Cyprus Tax Identification Number is a simple process and usually takes 1-2 days to completion.
The last few years international enterprises from various sectors have relocated and now operate under the European standards via Cyprus, enjoying security and at the same time attractive tax legislation.
Cyprus personal tax regime is one of the most attractive in Europe. Professionals, entrepreneurs and salaried people consider Cyprus as their tax residence for the advantages of the local personal tax.
Tax return submission 2018 for employeed and self-employeed individuals.
The program was launched to create jobs, promote innovation, research, develop the business ecosystem and support the economic development of the country. But how Cyprus Startup Visa helps and attracts foreign entrepreneurs?
Cyprus tax applies some exemptions on the income tax for physical persons thus making the country an attractive destination for professionals and entrepreneurs willing to operate from Cyprus.
Why a Trust is very important mechanism in a successful tax planning. Learn also about International Cyprus Investment Scheme.
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