Cyprus tax residency certificates for individuals can now be issued before the end of the relevant tax year. The Tax Department of the Republic of Cyprus has issued circular 2017/8 on 10 March 2017 stating that individuals can now apply for a tax residency certificate at any time during the tax year without first having …
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 …
On the 14th of July 2017 the Cyprus parliament voted for a tax law amendment adding an additional test, known as the “60 day rule”, for the purposes of determining whether an individual is tax resident in Cyprus. The legislation will be effective as from tax year 2017. Once the “60 day rule” is effective, an …
The “60 day rule” tax residency test for individuals Read More »
Vessels and pleasure yachts registered with the Cyprus Registry and their owners may benefit from from the various benefits that Cyprus has to offer. WHY CYPRUS Vessels and pleasure yachts registered with the Cyprus Registry and their owners benefit of the tax advantages offered by the Republic of Cyprus but also of the various benefits …
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 …
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 …
Amendment of the Criteria for Naturalisation of Investors in Cyprus Read More »
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 …
New Company Registrations In Cyprus Hit 3-year High Read More »
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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