Tax residency is connected with local taxation. Like most jurisdictions, Cyprus has an inviting atmosphere towards foreign investment, entrepreneurship and independent immigration. There is a distinction between corporate tax residency and personal tax residency. Tax or fiscal residency is established by legal registration. A company incorporated in Cyprus can apply for a corporate tax residency. For individuals not born in Cyprus, personal tax residency in Cyprus is possible under conditions. In general, individuals can stay for 90 days in a country on a tourist visa. A tourist visa allows workers to stay in a country under certain circumstances. Local tax authorities might have rules to impose personal income tax for foreign workers staying for a consecutive 60 days. The determine the overall tax liability for individuals, the 183 day rule applies. Individuals can become tax resident in Cyprus and benefit from the local tax regime since 2017. These foreign tax residents are exempt from taxation on worldwide dividend and passive income. However, there are requirements to qualify for Cyprus tax residency. Cyprus tax residency is possible for individuals who stay at least 60 days per year in Cyprus. Following the Income Tax Law of 2002, persons staying in Cyprus for 183 days per year are considered a tax resident. This 183 day rule is universal and applies to most other countries as well. The result is that Cyprus tax residency only applies to individuals without residency in another state and thus whose stay in another state does not exceed 183 days. Additional requirements for individual Cyprus tax residency include a permanent residency in Cyprus (owned or rented) and work, employment or a management function for a company registered as a corporate tax resident in Cyprus.