Uncategorized

This article provides a brief analysis of the requirements for naturalization under Cyprus law. 1. General Naturalization Requirements To obtain Cypriot citizenship through naturalization, applicants must meet the following conditions: (a). Residency Requirements: Applicants must have legally and continuously resided in Cyprus for the 12 months immediately preceding the application date, in addition to 7 […]

On 21 December 2021, amendments to the Income Tax Law and Special Defence Contribution Law were published in the Cyprus Government Gazette for the introduction of  tax measures that will apply in Cyprus from 31 December 2022 in relation to jurisdictions included on the EU blacklisted jurisdictions for tax purposes. In accordance with the Law

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

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

The non-domiciled rule was introduced by the Government of the Republic of Cyprus to attract start-ups to establish in Cyprus, encourage headquarters to relocate to Cyprus, and incentivize corporate executives and high-net-worth individuals to take up residency in the country.   The Special Contribution for Defense Law (hereinafter referred to as “the SDC Law”) imposes

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

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