00:00 Introduction
03:52 Why are digital nomads visiting Cyprus?
05:32 How do you become a 60-day tax resident in Cyprus and what are the benefits?
09:36 Which contributions do I have to make as a Non-Domicile Cyprus Tax Resident?
11:35 Are there any tax exemptions for IT specialists in Cyprus?
13:09 What happens if I am employed by a foreign company but am a Tax Resident in Cyprus?
15:38 Is there any benefit from becoming a tax resident in Cyprus since it is part of the EEA?
18:50 What documents or requirements do I need to become a tax resident?
20:30 Do you have to declare all your foreign income as a tax resident in Cyprus?
21:12 What are the requirements for the new Digital Nomad Visa for Cyprus?
23:34 Do you need to show a clean criminal record when applying for Cyprus Digital Nomad Visa?
Jowita, a Tax Expert from Cyprus, and Danish discuss how to optimize taxes in Cyprus with its attractive regimes. 🇨🇾
Thanks for watching and do not hesitate to reach out to Jowita here: visadb.io/serv....
The Action Plan 2022 - most important provisions in a nutshell
New policy for employing non-EU nationals
Temporary Residence and Employment Permits in Cyprus for highly skilled third countries employees, with a minimum gross monthly salary of €2.500, while a university degree, title, equivalent qualifications, and experience are required.
Family reunification of third-country nationals
Family members of non-EU employees, who are employed under the new residence permit provisions, will also have immediate and free access to the Cyprus labor market.
Digital nomad visas
Visa for non-EU country nationals who wish to live in Cyprus but work remotely for foreign companies. The visa will be granted for a period of twelve months (with a renewal for another two years). The sufficient resources are set at €3.500/ month.
Application for Cypriot citizenship
Right to apply for naturalization after 5 years of residence and work in the Republic of Cyprus (instead of 7), or after 4 years in case of a very good knowledge of Greek.
Extensions of expatriate reliefs
Current expat employees will be able to extend the benefit from 10 to 17 years.
Income Tax exemption of 50% to new residents-employees with income between €55,000- €100,000 - for the remaining period of 17 years.
Business Facilitation - in areas of High-tech/Innovation, Research & Development, Shipping, Biogenetics, and Biotechnology
Improving ease of establishing and administering companies (including company registration, name approval, registration to Social Insurance or to the VAT)
Tax incentives for R&D expenses and for innovative investments
Granting an increased discount on research and development costs (e.g. by 20%)
Possibility of extending the tax exemption to 50% for investment in certified innovative companies and by corporate investors.
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