Case studies · anonymized client journeys

What a Zeno engagement actually looks like

Three composite engagements drawn from typical Zeno files — a German SaaS founder, a UK HNWI post non-dom abolition, and an Israeli AI team. Names, geographies and figures are illustrative composites; the structures, timelines and services are real. Real, named cases follow once written client consent is obtained.

Case 1 · SaaS / software

German SaaS founder, €600k profit

Berlin-based €4M ARR SaaS founder relocating with spouse and one child. Looking to combine Cyprus IP Box + non-dom + 50% expat exemption.

Before Zeno

Structure: GmbH in Berlin, 30% corporate tax + trade tax, founder on €120k PAYE salary at top marginal 47.5%

Annual tax burden: ≈ €82,000 (corporate + personal combined on €600k taxable group income)

After Zeno

Structure: Cyprus Ltd (operating + IP holder), founder relocates under 60-day rule, claims non-dom + 50% expat exemption, IP Box applied to qualifying software income

Annual tax burden: ≈ €27,000 (15% CIT on operating profit, IP Box ~3% on qualifying IP income, salary above €55k exempt 50%)

Timeline

94 days from kickoff to first Cyprus payroll cycle

Services delivered

Cyprus company registration with IP-Box-ready object clauses
Yellow slip + IR59A residency election + non-dom certification
50% expat exemption opinion + payroll setup
IP transfer-pricing file + initial nexus-ratio calculation
German Wegzugsbesteuerung exit-tax analysis + DTT relief filing

Resources referenced

Cyprus IP Box guide →Germany → Cyprus relocation guide →50% expat exemption →

Case 2 · Wealth / private investments

UK HNWI post non-dom abolition, £1.2M income

London-based portfolio investor losing UK non-dom status after the April 2025 reform. Mixed investment income (dividends, interest, capital gains) plus an offshore trust. Family of four.

Before Zeno

Structure: UK tax resident, full 45% on remitted income post non-dom abolition, IHT on worldwide estate

Annual tax burden: ≈ £390,000 (income tax + NIC on £1.2M passive income, IHT exposure on worldwide assets)

After Zeno

Structure: Cyprus tax resident under 60-day rule, non-dom 17-year SDC exemption on dividends/interest/rents, Cyprus International Trust (CIT) restructured around forced-heirship-safe distributions, 5% on foreign pension above €3,420

Annual tax burden: ≈ €18,000 (zero SDC on passive income, GHS capped contribution, modest PIT on consultancy income)

Timeline

5 months — included CIT settlement, banking move, property purchase under PR Cat 6.2

Services delivered

Pre-arrival exit-charge analysis (UK CGT on departure, ATED on UK property)
60-day rule trigger plan + non-dom self-certification
Cyprus International Trust drafting + UBO register filing
PR by Investment Category 6.2 (€300k property)
Banking + EMI setup (BoC + Wise)
Coordination with UK tax advisors for SA109 + departing-resident filings

Resources referenced

Cyprus non-dom explained →Cyprus International Trusts — HNWI guide →UK → Cyprus post non-dom guide →PR by Investment Cat 6.2 →

Case 3 · AI / software

Israeli AI startup, 8-person team, $2M ARR

Tel Aviv AI company looking for an EU base for European customers + investor confidence + founder visa optionality. Two co-founders, six engineers (4 prepared to relocate).

Before Zeno

Structure: Israeli Ltd, 23% Israeli CIT, complex employee stock options, US holding for capital raises

Annual tax burden: ≈ $230,000 (Israeli CIT on $1M+ taxable profit + payroll burdens, founders on Israeli PIT)

After Zeno

Structure: Cyprus Ltd operating, Cyprus IP holding parallel, Co-founders + 4 engineers on yellow slips and non-dom, 50% expat exemption for senior salaries, IP Box on qualifying software, holding structure ready for Series A

Annual tax burden: Operating effective rate ≈ 4% blended (15% CIT on services revenue, ~3% on qualifying IP licensing, founders' personal tax under 5% effective after non-dom + exemption)

Timeline

11 weeks — including 4 employee relocations and ICPAC audit-engagement letter for investor diligence

Services delivered

Cyprus company registration + IP-Box-ready object clauses
Cyprus holding company on top + intra-group IP licence (TP-justified)
Yellow slip + non-dom for 2 co-founders + 4 engineers
50% expat exemption opinion for senior team
ICPAC-audited engagement letter package for Series A diligence
Cyprus office lease via Zeno introduction + bank account

Resources referenced

Cyprus for SaaS / AI founders →Israel → Cyprus relocation guide →Cyprus holding company guide →Cyprus IP Box →

Your situation looks like one of these?

Book a free 20-minute call. We’ll map your case to a similar template, walk you through the structure and send a written fixed-fee proposal within 24 business hours.

Book a free consultation