On 14th July 2017 the Cyprus parliament voted for a Cyprus tax law amendment namely the “60 day rule” which will co-exist with the already established “183-day rule”. The “60 day rule” is a further effort of the Cypriot government to attract foreign investment to Cyprus and bolster Cyprus’ reputation as a European financial hub. Under the “183 day rule”, an individual who spends at least 183 days a year in Cyprus is considered a Cyprus tax resident. The “60 day rule” aims to