What do we mean by Re-Domiciliation?

Re-Domiciliation is the change of a physical person’s tax residency or citizenship (passport) to a different one.

For instance, a Russian business man can change his tax residency jurisdiction from Russia to Cyprus subject to certain conditions.

Similarly, the Citizenship (passport) of this Russian person can also change to Cyprus following a different application by our firm.

Consequently, besides the obvious legal aspects of changing the country of domicile and tax residency, other major benefits exploited by various businessmen are the tax benefits enjoyed by these individuals who are now taxed based on the Cyprus Tax Regime and not their local tax regimes (in our example Russia) which cost them significantly more in taxes.

Why is Cyprus so Popular?

Cyprus domiciliation services became extremely popular since 2014 a year after the worst economic recession in Cyprus, following the announcement by the government of two very successfully schemes which aimed in attracting investors to the republic. These two schemes (mentioned above) are the Cyprus Citizenship and the Cyprus Residency schemes.

Access to the EU

Obtain access to Europe through the Cyprus Permanent Citizenship or Residency programs via Direct Investment.

Business reasons

  • Lowest Corporation Tax in Europe at 12.5%
  • Favourable Double Tax Treaties with several countries
  • Favourable Company Holding Structures
  • Excellent location for business as Cyprus is considered one of the most important Financial Centres in Europe
  • Many more

Personal Advantages

Living in Cyprus, which offers safe, beautiful, relaxed and easy environment. Amongst other Cyprus offers the following: 

  • Strategic Location with Modern Infrastructure 
  • Outstanding Medical System at low charge
  • One of the best Educational Systems in Europe
  • Children of Cyprus Permanent Residence holders will be able to apply to European Universities with Lower Tuition Fees
  • Cyprus permanent residence holders can travel to Hong Kong and Macao without any limit constraints
  • Low Taxes (personal and company)
  • Freehold Properties
  • Lowest Property Taxes in the World (less than Euro 100 per property).
  • No Inheritance Tax

If you would like to apply for a Cyprus Tax Residency or Cyprus Passport (Citizenship) just e-mail me directly at kt@cyprusaccountants.com.cy.