WHAT CYPRUS CAN OFFER TO ISRAELI INVESTORS
Cyprus welcomes Israeli international business people and high net worth individuals offering many benefits
Cyprus can be the gateway to Europe for Israeli investors
Become a Cyprus Tax Resident Individual and enjoy many benefits, including:
- no tax on gains arising from the disposal of investments
- no withholding tax on the repatriation of income as dividends, interest and royalties
- income tax exemptions for taking up employment in Cyprus up to fifty percent of the remuneration for 10 years for employment income of more than €100,000 per annum
- no tax on worldwide dividend and interest income for non-domiciled individuals for 17 years
- no tax on retirement gratuity and special tax regime on foreign pension income
- extensive double tax treaty network.
Cyprus Residency and Citizenship by Investment:
- Take advantage of the Cyprus Investment Programme which offers the possibility of Cyprus residency or citizenship through foreign direct investment.
The Cyprus Holding Company offers numerous advantages, including
- Income from dividends is tax free
- Gains on the sale of shares are tax free.
- Tax free distributions by Cyprus Holding Companies to their non-resident or non-domiciled resident shareholders
- foreign individuals can obtain work permits and tax residency certificate (cyprus non-domiciled tax status).
Cyprus Non-Dom Tax Residency
- For tax purposes, an individual is normally considered to be a Cyprus tax resident if he/she is physically present in Cyprus for more than 183 days in a calendar year
- Alternatively, as of 1stJanuary 2017, under the ‘60 day rule’, an individual can be considered as a Cyprus tax resident subject to certain conditions
- Individuals can be deemed as non-domiciled tax residents of Cyprus if they have not been born in Cyprus or have not lived in Cyprus for at least the last 17 years
- Under the status of non-dom tax residency in Cyprus, you can benefit from a variety of additional tax benefits.
You can become a Cyprus tax resident by staying in Cyprus 60 days!
In order to become a Cyprus tax resident on the basis of the “60 day rule” you must meet the following conditions:
- remain in Cyprus for at least 60 days during a tax year, and
- do not reside in any other single state for a period exceeding 183 days, and
- is not tax resident in any other state; and
- carry out business activities and/or work in Cyprus and/or be a director in a Cyprus tax resident company; and
- maintain a permanent residence in Cyprus (either owned or rented).
The Cyprus Investment Programme
- Take advantage of the Cyprus Investment Programme which offers the possibility of Cyprus residency or citizenship through foreign direct investment
- As a Registered Citizenship Service Provider in the relevant Registry of Citizenship Service Providers with Reg. No. 583, we are able to provide all the assistance with:
- Obtaining the Cyprus Citizenship
- Obtaining a permanent residence permit
- Immigration services.
Why Choose Cyprus
- Strategic Location at gateway between Europe, Africa and Middle East
- Excellent climate and lifestyle
- EU member state
- Low tax rates
- High level professional services industry.
Why Choose CosmoServe
- We have over 28 years of experience
- We are a multidisciplinary firm of professional accountants, lawyers and business consultants
- We are a ‘one stop shop’.
How we can help
- Company formation
- Accounting & audit
- International tax planning
- Liaison with local tax professionals
- Residency and Citizenship
- Set up offices
- Property acquisition
- All other corporate & fiduciary services.