How wealth tax works in Cyprus
Cyprus does not levy a recurring net wealth tax on bank balances, shares, funds, private businesses, crypto assets or foreign assets. The old immovable property tax was repealed from 1 January 2017.
{ "The main costs for wealthy individuals are transactional and compliance-related": "capital gains tax on Cyprus immovable property, land transfer fees, VAT on certain transactions and reporting checks from banks and counterparties." }
This is why Cyprus is better described as a no-wealth-tax jurisdiction rather than a no-tax jurisdiction.
Tax rates at a glance
- Net wealth tax
- 0%Zero
- Net worth tax
- 0%
- Annual asset tax
- 0%
- Immovable property tax
- 0%
Who benefits most
These profiles tend to benefit most when the rules match their real residence, payroll and business setup.
InvestorsHigh earnersFamily officesFoundersCrypto holders
Watch out for
- No wealth tax does not mean no reporting. Private banks and brokers can still ask for source-of-funds and tax-residence documents.
- Real estate is the main place where Cyprus taxes capital, but that is handled through CGT and transfer fees rather than a yearly wealth tax.
- If you are also tax resident elsewhere, that country may tax your worldwide assets even if Cyprus does not.
Frequently asked questions
Does Cyprus have a wealth tax?
No. Cyprus does not levy a net wealth tax or annual asset tax.
Is property taxed as wealth in Cyprus?
Not as a recurring wealth tax. Property can still trigger capital gains tax and land transfer fees when sold or transferred.
Is Cyprus good for investors?
Cyprus is attractive for investors because it does not tax net wealth and it does not levy an annual wealth return. The remaining work is managing transaction taxes and foreign tax exposure.