Year: 2026

Cyprus as an international headquartering center. The country has made big developments in industries such as tourism with many developments like golf resorts, marinas, luxury residences and skyscrapers.Incentives are also given for startups formed or transferred to Cyprus from third countries (Startup Visa). More and more business are choosing Cyprus…

A new Double Tax Treaty (DTT) was signed between Cyprus and Kazakhstan , which was previously ratified by Cyprus in May 2019. The DTT will have full effect on the 1st of January 2021. The Treaty is based on the OECD Model Convention and thus incorporates the latest international standards…

Following the latest amendment of the Immigration Law, Cap. 105, which took place on the 6.12.2019, the Cyprus Migration Department has made some changes regarding the regulation for bank guarantees for work permits and based on the new regulation, the requirement for employers to provide a Bank guarantee for the…

Following recent amendments to the Cyprus Companies Law, Cap. 113 (“the Law”), the Registrar of Companies will impose administrative penalties on certain filings submitted after the prescribed time frames as provided by the Law. The imposition of the administrative penalties will be effective from 18 December 2019. Failing to submit…

As we have reported back in February 2019 some important amendments to the Cyprus Companies’ Law were introduced in December 2018, with some of the measures (such as the abolition of Capital Duty) taking immediate effect, whereas some others coming in to effect later on. Following from the above, as…

A. Introduction A Tax Treaty (TT), in general terms, is an agreement between two or more jurisdictions that regulates the tax amount that an individual or a company must pay, so they are not taxed twice on the same type of income.  Under the TT, any tax paid in the…

Cyprus has become an attractive option for companies and individuals. Advantageous tax incentives exist and Cyprus is popular as both a corporate and residential location, offering a sound infrastructure, and also enviable weather.  Benefits Enjoyed by Tax Residents of Cyprus who are not Domiciled in Cyprus As a result of…

A. INTRODUCTION As from 28.7.2006, the Companies Law Cap.113 (the “Law”) has been amended and the re-domiciliation of foreign companies to Cyprus is permitted, as per the provisions of the Law. Foreign companies that are established and operating abroad that consider changing their seat, have the choice to re-domicile to…

Labour legislation All companies operating in Cyprus are obliged to adhere to the employment legislation of Cyprus. Detailed information on labour laws and regulations can be found on the website of the Ministry of Labour, Welfare and Social Insurance at www.mlsi.gov.cy Payroll Accounting The minimum salary in Cyprus starts at…

On 27 September 2017 the Cabinet of Ministers has approved a new scheme (the ‘Filming Scheme’) with the purpose of attracting individuals, local and overseas companies specialising in the filming production to develop and relocate their business and activities to Cyprus by offering them various attractive tax incentives as detailed…