Countries / Cyprus
Cost of Life
Residency Programs (2)
Countries with a non-domiciled (or "Non-Dom") taxation system apply different taxation rules whether you are domiciled or non-domiciled resident:
- If domiciled resident, you pay income tax on your worldwide revenues (similar to residence-based taxation).
- If non-domiciled resident, you only pay income tax on your local revenues (similar to territorial taxation)
The definition of domiciled vs non-domiciled is specific to each country. The general approach is that your domicile is the country you are born in and your parents have lived in.