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Trusts And Private Wealth 2021 - Carey Olsen Cayman Islands - Tax


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This guide to Cayman s private client sector includes
commentary on tax, trusts, foundations and private wealth
structures used within the jurisdiction, including charitable or
philanthropic structures. It also looks at capital gains,
withholding and wealth tax rules along with issues relating to real
property, immigration, succession, making a will and estate
planning considerations, legislative changes and disclosure
obligations.
Which factors bring an individual within the scope of tax on
income and capital gains?
This question is intended to address the territorial scope
of the taxes that your jurisdiction imposes on income and capital ....

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The Cyprus Non-Domiciliation Rules - Tax


Exempt
It should be noted that the SDC Law provides that when a
Cyprus-domiciled person transfers assets to a non-domiciled
relative (up to the third degree), it is then up to the
Commissioner to decide whether the transfer was performed for tax
avoidance, in which case the income deriving from the said assets
will be subject to defence tax.
Cyprus, a Prime Tax Destination
Cyprus was not the first country to apply the
Non-Domiciled Individual concept. Countries such as
Ireland, Malta and the United Kingdom have also adopted similar tax
concepts. For example, while in Cyprus one can only uphold the ....

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The Non-Domicile Rules In Cyprus - Tax


The Non-Domicile (Non-Dom) Tax Status
The 183 Days Rule
As a general rule, as per the Income Tax Legislation, an
individual may be considered a tax resident in Cyprus if he/she is
physically present in Cyprus for a period exceeding in
aggregate 183 days during a tax calendar year (1st of
January until 31st of December).
The 60 days Rule
As of 1st of January 2017, the tax residency rules have been
amended to also provide that if an individual does not reside in
any other country for a period exceeding 183 days in aggregate in
the same year and is not a tax resident for the same year in any ....

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