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A plan to reduce your tax obligations
Save for a brighter future
Retirement is a very important period in life and we must enjoy it to the fullest
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Tax Relief Insurance Plan

As a result, premium payments can be tax deductible on your income tax return, and the savings income is tax-free.

If you would like to reduce your tax obligations and receive a quote, please fill out the form below.

There is the option of combining the tax relief plan to be for pension, student, and saving purposes.

Saving, Pension or Student plan helps you financially in the long-term so that you can have an secure future.

Request a quote or book an appointment:


Step 1


Complete the form ΤΦ2001 – Application for the Issuance of a Taxpayer Number.

ıfl€367 2016.pdf (

Step 2


Prepare a copy of the following – as appropriate for your situation.

For Cypriot citizens: Copy of your identity card (ID).

For EU citizens – residents of Cyprus: Copy of the “Certificate of Registration” from the Population and Migration Records Department (CRMD) – known as a ‘yellow slip’.

For non-residents of Cyprus: A copy of any other official certificate from your country of residence, which clearly states your tax registration number / identity card / social security card, together with a letter explaining the reason for your application to register with the Tax Department Cyprus

Step 3


Scan all documents (see Steps 1 & 2) and email them to:






Step 4


A representative of the Tax Department will send you via e-mail:Representatives of the Tax Department will send you via e-mail:) should be contacting you via e-mail to provide your:

  1. VAT number, and
  2. TAXISnet password

Both are needed to register with TAXISnet.

TAXISnet (

Saving Plans

Minimum monthly premium
40 Monthly
  • Student Insurance Plan
  • Pension Insurance Plan
  • Tax Relief Insurance Plan
Combine Savings & Motor/Home Insurance

Having a savings insurance plan in Cyprus offers several benefits:

  1. Risk Diversification: Savings insurance allows for investment in a variety of assets, reducing the risk that comes with investing in a single entity or sector.
  2. Professional Management: Funds are managed by professionals using advanced methods and technology to monitor markets and ensure expected returns.
  3. Discipline for Saving: These plans encourage long-term saving commitments, with penalties for early withdrawal to discourage using funds meant for long-term goals.
  4. Flexibility: While intended for long-term needs, some plans offer the flexibility to access funds for emergencies.
  5. Tax Benefits: Savings insurance and private pensions are recognized by Cyprus tax authorities as valid tax exemptions, offering significant tax deductions.

In Cyprus, these plans are particularly attractive due to the tax exemptions provided, which can lead to a lower risk and a higher net return compared to other investment options. They also offer life coverage, capital growth opportunities, and future planning for children and retirement, coupled with tax-saving strategies approved by the Republic of Cyprus.

In Cyprus, savings insurance plans are recognized by the tax authorities as valid tax exemptions. This means that contributions to savings insurance or private pensions can be deducted from your taxable income, subject to certain conditions. Here’s a summary of the key points:

  1. Tax Exemptions: The sum of certain expenses, including contributions to savings insurances or private pensions, can be completely exempted from taxation, provided it does not exceed 20% of the gross income.
  2. Tax Deductible Returns: The returns on savings insurance and the contract’s redemption value are also tax-deductible, making them more attractive than bank deposits.
  3. Investment Management: Savings insurances are often unit-linked funds, managed by investment banks and companies, which invest in a variety of saving and investment products.
  4. Risk Categories: These funds are categorized based on risk levels—conservative (low-risk), moderate (medium-risk), and aggressive (high-risk)—to suit different investment goals.
  5. Regular Updates: Insurance companies provide regular updates on the value of investment units and the funds’ investment policy, which is also published in private Cyprus newspapers.

These features make savings insurance a compelling option for tax-efficient saving and investment in Cyprus. It’s advisable to consult with a financial advisor to understand how these tax exemptions can benefit you based on your specific financial situation.

5 good reasons to make us your insurance agent in Cyprus!

We provide bespoke solutions to suit individual needs
We guide you through all Incident Procedures
We are by your side, to help whenever you need


We offer 24/7  Support for every situation


We settle claims fast, with your best interests at heart
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