The Cyprus Parliament voted into law on 14 July 2017 an amendment to the definition of “Cyprus tax resident individual”.
As from 1 January 2017 a person who:
- Does not spend more than a total of 183 days in any state within a tax year, and
- Is not a tax resident of another state within the same tax year
and who satisfies the following three conditions:
- Remains in Cyprus for at least 60 days in the tax year
- Carries on a business in Cyprus or is employed in Cyprus or holds an office in a Cyprus tax resident person at any time during the tax year, and
- Maintains a permanent home in Cyprus that is either owned or rented
will be considered as a Cyprus tax resident.
If the employment, or business or holding of an office as per the condition 2 above is terminated, then the individual shall cease to be considered a Cyprus tax resident for that tax year.