The End to the UK “Non-Dom” Regime 

The UK Government has released official documentation stating that starting from April 6, 2025, the Non-Dom regime will undergo significant changes:

• The existing regulations for Non-Doms will cease to apply.

• The notion of “domicile” as a determining factor in the UK tax framework will be substituted with a system centred on tax residency.

This shift will profoundly alter how the UK taxes foreign income and capital gains for both current UK-resident Non-Doms and future Non-Doms relocating to the UK.

The way forward?Cyprus Tax Residency and Non-Domicile status.

Cyprus tax system for individuals offers numerous tax benefits and exemptions, to mention just a few:

  • No tax on dividend income
  • No tax on gain on disposal of shares
  • No wealth tax or inheritance tax
  • 50% tax relief on first employment (subject to conditions)

The Non Domice status can be achieved by becoming a Cyprus Tax Resident in few easy steps:

  • Presence in Cyprus for more than 183 days in a calendar year OR
  • Presence in Cyprus for only 60 days, subject to conditions:
    • Presence in Cyprus for 60 days in a calendar year;
    • Not to be a tax resident or spent more than 183 days in any other country;
    • To have activity in Cyprus – either to be employed by a Cyprus company, have business in Cyprus or hold an office in a Cyprus company.

The team at Axion will be happy to help and take you through the process of the Cyprus Tax Residency.

As a first step we can review your case and check whether you are eligible and whether it is beneficial for you to become a Cyprus Tax Resident.

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