Cyprus is a low tax country and offers a relatively simple tax regime. For most individual’s resident in Cyprus, they will become “tax resident” if they stay in Cyprus for 183 days in any one calendar year.

  • Cyprus operates tax on a worldwide basis.
  • The Cyprus tax year runs from the 1st January until the 31st December.
  • Tax resident individuals will be liable to pay annual, Income Tax, Special Contribution for Defence, and the GESY (National Health) Levy.
  • Personal Tax is payable, as a minimum, half yearly, in July and December.
  • There are other personal taxes in Cyprus such as immovable property transfer tax and capital gains tax which are applied on the purchase and the sale of immovable property.
  • VAT in Cyprus is applied on most goods and services at a rate of 20%.
  • All employees and the self employed pay social insurance contributions based upon a percentage of their eligible earnings.

For more information regarding tax and other related issues please click here

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Help Desk

Do you need advice on matters relating to living, working or retiring in Cyprus?

Whether you already live on island or plan to move out to Cyprus, the Cyprus Residents Planning Group can help navigate you through the visa and residency permit procedures.