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Re-Domiciliation of Foreign Companies

The Republic of Cyprus is amongst the jurisdictions which allow re-domiciliation (i.e. the transfer of the company’s “seat of incorporation”) in and out of Cyprus.      Transfer to Cyprus of the “seat of incorporation” of a company The Republic of Cyprus is amongst the jurisdictions which allow re-domiciliation (i.e. the transfer of the company’s …

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Capital Gains Tax

Capital Gains Tax As a rule, Capital Gains Tax is imposed at 20% on all gains (regardless of the tax residence of the owner/seller) arising from: Direct Disposals and Indirect Disposals i.e. Disposals of shares of companies holding immovable property situated in Cyprus. Calculation The gain is calculated by deducting from the sales proceeds the …

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Amendment of the Criteria for Naturalisation of Investors in Cyprus

On the 13th of September 2016, by a decision of the Council of Ministers of Cyprus, the criteria for Naturalisation of Investors by exception have been amended. Investors can now apply for Cyprus Citizenship by making a stand-alone application (the previous ‘collective investments’ application has been abolished), upon making an investment under the new criteria …

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New Company Registrations In Cyprus Hit 3-year High

The applications for new company registrations in Cyprus soared in July 2016 to the levels prior to the haircut of 2013. This was the eleventh consecutive month that the number of applications is rising.The increase of 19.3%, compared to July 2015, translates to 211 more applications for new company registration this year than in last …

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Non-Domicile Status

The non domiciled rule were introduced to further entice corporate executives and high net worth individuals to take up residency in Cyprus. The non domiciled rule were introduced to further entice corporate executives and high net worth individuals to take up residency in Cyprus. The Special Contribution for Defense Law (hereinafter referred to as “the …

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