Non-dom resident status Cyprus

[erni]

How difficult is it to get substance for a regular Cyprus company ?

 

[CyprusLaw]

As long as you receive proper advise on the structuring by a‍ law firm and not one of the cheap online providers it can be done without⁠ complications.

 

[mrb]

thanks CyprusLaw,
how strictly is this rule followed, if one owns a property in CY,‌ but does not fulfill the 183 day requirement and does not have a fiscal residency‍ in another jurisdiction?
nor an established business

 

[CyprusLaw]

It depends on⁠ the circumstances of each case. But in order to obtain a Tax residency certificate you⁤ are required to submit evidence of you staying in Cyprus for the required period -⁣ eg tickets, passports, bank statements etc.

 

[Almouk]

I am wondering if the same taxation and the Non Dom status that applies in‌ the South -greek part- of Cyprus is applicable as well in the North -turkish side-‍ of Cyprus under the same parameters and circumstances.

Thanks in advance.

 

[CyprusLaw]

The occupied side has a completely different legal system if you can call it⁤ like that..not recognised by anyone really

 

[frosty]

What does "Is not tax resident in︁ any other state" mean in this context? If any other state considers me a tax︂ resident Cyprus would just revoke my status and any double taxation treaty won't be applied?︃

br,

frosty

 

[CyprusLawyer101]

@frosty The requirements described above, are with reference to obtaining the tax residency status in‌ Cyprus with a 60 day stay.
In the event you stay in Cyprus for 183‍ days then you could claim residency in Cyprus over any other jurisdiction and the relevant⁠ DTT provisions can be applied to determine your tax residency. When it comes to the⁤ 60 day rule though, things work differently since this is a unilateral attempt from Cyprus⁣ to grant the tax residency on more lenient conditions pertaining to the days of stay.⁢ It is therefore imperative that no other jurisdiction claims tax resident over an individual ,︀ in order for the 60 day rule to apply.

 

[frosty]

Thanks, damn, hadn't taken that into consideration. I had hoped I could be tax resident in︁ two countries using the 60-day rule and be protected by the tax agreement. Makes sense︂ though.

 

[CyprusLaw]

Unfortunately this is not possible. The requirements include⁠ not being a tax resident elsewhere.

 

[Scanner]

Could you provide me with more insights on this, please? PM is⁠ also fine. Thank you.

 

[DiscoveredAttack]

Hi Cyprus Law, what would be the cost and expected activities for point number 4?‌ What would be the easiest setup and/or way to tick the box?

Many thanks!