Tax in Cyprus
Register for tax in Cyprus
Cyprus is known for its favourable tax system, making it an attractive destination for individuals and businesses alike. However, to take advantage of this tax system, it is essential to register for tax in Cyprus.
The tax registration process in Cyprus.
The first step is to obtain a Tax Identification Number (TIN). A TIN is a unique identifier issued by the Cyprus Tax Department, which is required for all tax-related matters. To obtain a TIN, you need to complete and submit a registration form to the Tax Department.
The registration form requires you to provide information about your personal and professional details, such as your name, address, date of birth, and employment status. You may also need to provide additional documentation, such as proof of identity, residency, and employment.
Once you have submitted the registration form, it can take up to two weeks to receive your TIN. Once you have your TIN, you can start fulfilling your tax obligations in Cyprus. Depending on your circumstances, you may need to register for additional taxes, such as VAT or social insurance.
If you are a business owner, you may also need to register for a Business Registration Number (BRN). The BRN is a unique identifier that is required for all businesses operating in Cyprus. To obtain a BRN, you need to complete and submit a registration form to the Registrar of Companies.
Registering for tax in Cyprus is a straightforward process that requires you to obtain a TIN and possibly a BRN. It is essential to comply with Cyprus tax regulations to avoid any legal issues and take advantage of the country's favourable tax system.
Facts about being tax registered in Cyprus
Without a resident permit or more you cannot get a tax number.
With a tax number you can pay tax and make a return.
With a pension tax registered you can save UK or home country tax at source and pay only 5% tax (read more about the tax rates in Cyprus).
Register as a non Dom to pay 0% tax on dividends , property rental and interest flat rate taxes.
Non dom to Cyprus confirms UK or home country liability to inheritance tax. Contact ProACT to explore ways of saving 40% inheritance tax.
Expats using the 60 day residence rule in Cyprus need an additional annual tax certification and registration for this status to apply (read more about tax residency in Cyprus).
Social insurance registration is required for anyone working more than 3 months in Cyprus including nomad and remote working.
VAT registration is required for all business turnover more than €15000 a year.
Cyprus company and directors need to be separately tax registered.
Trusts and companies need to be tax registered and include notification of beneficial owners with annual returns
ProACT can assist and advise expats Living and Working Abroad
Tax Advice and assistance to complete registration and returns
Tax Reports and advice on tax residence and liability
Tax Return and preparations for family and business
Tax registrations as required.
Cyprus Tax by Year
View the rates, deadlines & other information about Cyprus tax by the tax year.
Tax Residency in Cyprus
Residency in Cyprus refers to an individual's legal status as a resident of the country.
In order to be considered a resident of Cyprus, an individual must meet certain criteria, such as living in the country for at least 183 days per year.
Get in touch
For help and guidance, including our range of tax services, contact us.
FAQ
Do I need to submit a tax return in Cyprus?
If you have any income at all you need to submit a tax return in Cyprus. You can find more information here.