GMAP Associates

NON-DOMICILE TAX

There are many great tax benefits to individuals and families moving to Cyprus and obtaining a Non-Domicile(Non-Dom) tax status. We offer a variety of services to businessmen and women, and to their respective families who wish to enjoy the full benefits of Cyprus. Read below to find out more about how we can help you save and grow.

Personal Tax Planning

We are here to help you make the most of your wealth. Our team and Tax specialists can help you and your family with your personal Tax & Wealth plan. Areas that we will help you navigate include wealth allocation, company structures and formations, inter-company transactions, Income Tax, employment tax exemptions, Capital Gains, Wealth Taxes and more depending on your individual circumstances.

A well informed plan well executed can make all the difference to your long term growth and safety, so we at GMAP are here for you every step of the way.

Employment Income Exemptions

Individuals who take up employment in Cyprus and who earn an annual income of more than 100,000 (Euro) annually can be exempt from 50% Tax of their income for a subsequent period of 10 years. We can both plan and apply for your tax exemption, filing your Tax Returns for you so that you can save. Our advisors can also highlight the other various tax exemptions that exist for you so that you can obtain the full benefits of working and living in Cyprus. This exemption can also be used by any high-up executives that you also wish to bring to Cyprus within your organization.

Company Structure & Formations

Setting up a company within the Republic of Cyprus can be one of the best decisions any company can make for creation or relocation. Some of the benefits include a low Corporate Tax rate of 12.5%, one of the most university educated workforces throughout Europe, business friendly laws and government commitment and access to the European economic trading zone. Combining Cypriot company formation along with other tax benefits such as the Non-Domicile Tax registration leads to compounding benefits where owners can reap huge savings. Our team will help and guide you through the whole process, selecting and forming the right company structure for you. Whether you require a Limited Liability (Ltd), a Holding Company and subsidiaries, or need to register a Cypriot Investment Firm (CIF, AIF, RAIF), we are here to take care of the hard work for you. Some of the services include name registration, company formation, CySec registration, and registration for VAT and Social Insurance.

Finances and Bank Accounts

All businesses in these modern times require bank accounts in order to effectively and efficiently operate. We can open up Cypriot bank accounts and International bank accounts to suit your businesses needs. For those that require more specialized bank accounts such as accounts allowing for Crypt currency transactions, our specialist team can also help you. Furthermore for clients that require Bank Loans for financing their new venture we can prepare the relevant documentation and represent your company to help secure your loan.

Employment & Immigration

Our team is here to help you and your family in obtaining your Visas, Residence Permits, or Passports. We can guide and prepare your application so that you can enjoy your stay in Cyprus.

We can help our clients stay on top of their workforce requirements by registering them for Social Insurance and conducting the company’s Payroll. Furthermore, we can offer new companies both virtual offices and physical office locations as their business requires. Moreover, we offer a variety of Work Permit and Immigration services for those businesses that wish to hire foreign nationals to work in Cyprus.

Intellectual Property & Tax Savings

Companies that are registered in Cyprus can reduce their tax on profits by up to 80% on income derived from sale or royalties of intellectual property, including software and other copyright material. Our team can help your business plan its development and expenditure strategy so that you can optimally take advantage of these tax exemptions. Our team in addition to helping you plan can make the application for this exemption so that your business can benefit.

Furthermore for many businesses and new products the right type of legal protection is paramount to the long term success of their business. Our team can help you register your Trademark and file for Patents.

Audit & Tax

As part of any healthy business structure, well prepared audits and government tax submissions are of vital importance to the continued success of a business. Our Audit team will ensure that your company is taken care of, and will produce audits to the highest standard so that you can rest assured that your companies interests are represented. We offer both annual Company audits as part of government requirements and Forensic audits for those owners that require even greater depth of oversight for their company.

We can help your business save through Tax planning & Advisory.

Growth & Maintenance

Our team is with you for the long run. We can provide financial insight through regular Management Accounts for your companies to help you grow. Furthermore our specialist advisors can help create growth plans alongside you to help your business achieve the goals it aspires to, including preparation of Financial Projections. Moreover, we can help maintain the smooth running of your company through our Bookkeeping, Payroll, and VAT service. Letting you focus on the true strategy and running of your business.

Partnership & Prosperity through Cooperative Opportunities

Contact our team today to find out more about our services and how we can help you and your business achieve your financial goals. We look forward to working with you.