Tax Advantages
The following income tax rates apply to individuals:

Chargeable income Tax Rate Accumulated tax
(CYP) (%)
(CYP)

0 – 10.000 - -
10.001 – 15.000 20 1.000
15.001 – 20.000 25 2.250
over 20.000 30

Foreign Retirees who decide to become Cypriot residents are taxed on
their pensions from abroad at the rate of 5% per annum while an exclusion for the first £2.000 is arranged.

Cyprus has Double Taxation treaties with many European and non European countries protecting in this way its residents from paying tax in both countries. This gives the alternative to these people to take advantage of the very low rate that applies in Cyprus.

Further information on the matter can be given upon request.