Your Path to Cyprus Residency
The Non Dom Status
Cyprus has emerged as a prime destination for individuals seeking favorable tax regimes and a high quality of life. The Non Dom status in Cyprus offers significant tax benefits, making it an attractive option for high-net-worth individuals, entrepreneurs, and digital nomads.
This guide provides a comprehensive overview of the steps required to achieve residency in Cyprus with Non Dom status, highlighting the essential considerations and benefits at each stage.
Step 1: Diligent Planning with Expert Advice
Effective planning is crucial when considering residency in Cyprus under the Non Dom regime. Engaging with experienced professionals ensures that you navigate the complexities of the process smoothly. Our firm offers several services to assist in this phase, including:
- A complimentary orientation session at our office, via phone, or through Skype.
- Free access to our live chat for any queries during the planning stage.
These initial steps are vital to ensure that your move is well-planned and compliant with all regulatory requirements.
Step 2: Finding Your New Home
Securing a residence in Cyprus is a pivotal part of the relocation process. Whether you intend to rent or purchase property, we provide support without additional fees. Here’s how we assist:
Renting a Property
We leverage long-standing relationships with regional and national real estate agents to find rental properties that meet your needs. Additionally, we assist with the verification and notarization of lease agreements.
Purchasing a Property
Our independence from any specific real estate developers ensures unbiased advice when purchasing property in Cyprus. We provide free, neutral, and objective consultation to help you make informed decisions.
Step 3: Establishing Your Business Presence
To ensure your Cyprus-based business is recognized internationally for tax purposes, it’s essential to establish a legitimate business presence. This often means setting up an office within your residence, which can save costs and streamline operations. Detailed guidance on setting up your business can be found on our dedicated webpage.
Step 4: Company Formation in Cyprus
Starting a business in Cyprus requires minimal documentation, including identification, proof of address, a bank reference letter, and a brief resume. You must also propose three potential names for your company, which will be checked by the Cyprus Registrar of Companies within five working days.
Step 5: Comprehensive Full-Service Company Formation
The full-service package for company formation in Cyprus typically takes five to eight working days. All relevant documents will be emailed to you immediately after registration, with originals following shortly after. Detailed information on the full-service package can be found online.
Step 6: Applying for VAT and Tax Numbers
Post company formation, the next step involves obtaining VAT and tax numbers. This process requires the director’s Yellow Slip and a Pro Forma invoice, which we help prepare and submit.
Step 7: Opening Your Business Bank Account
We offer complimentary banking services for opening your business account, providing options from various national and international banks. Standard services include online banking and Visa/MasterCard facilities.
Securing Your Cyprus Residency and Non Dom Status
Following the registration of your company, the final steps include applying for your Yellow Slip and Non Dom status. These steps will be detailed in the second part of our guide.
If you are interested in learning more about relocating to Cyprus and the benefits of the Non Dom status, we recommend consulting with our experts. Engaging professional advisors will help you make well-informed decisions and take full advantage of the opportunities available in this dynamic environment.
For more detailed guidance and assistance, feel free to reach out to us at any time. Our contact information and live chat access can be found on our contact page
