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The Cypriot government introduced the citizenship by investment programme as an initiative to attractforeign investment. The programme gives foreigners the opportunity to obtain full Cypriot citizenshipthrough various investment opportunities in Cyprus and consequently, the right to live, work and study inall 28 European Union countries. Specifically, the government decision calls…

Σύμφωνα με τον πρόεδρο της Δημοκρατίας Νίκο Αναστασιάδη, όλες οι επιχειρήσεις λιανικού εμπορίου θα αναστείλουν τις εργασίες τους, πλην των επιχειρήσεων που θα περιλαμβάνονται σε σχετικό Διάταγμα που θα εκδοθεί από τον Υπουργό Υγείας. Aναστέλλεται η λειτουργία όλων των επιχειρήσεων λιανικού εμπορίου με εξαίρεση: • Τις επιχειρήσεις και εργαστήρια αναπηρικών…

Στα πλαίσια των μέτρων που λαμβάνει η κυβέρνηση για στήριξη των εταιρειών/επιχειρήσεων που επηρεάζονται από τα περιοριστικά μέτρα που έχουν επιβληθεί για τον περιορισμό της εξάπλωσης του Κορωνοϊού, το Τμήμα Εφόρου Εταιρειών ανακοινώνει τα εξής: 4η εκστρατεία συμμόρφωσης των εταιρειών για καταχώριση οφειλόμενων ετήσιων εκθέσεων: Αναστέλλεται η διαδικασία δημοσίευσης στην Επίσημη…

Extension of the deadline for the submission of VAT returns until 30/04/2020 (applicable for businesses with turnover of less than €1 million in the preceding 12 months); Extension of the deadline for the payment of VAT due (applicable for businesses with turnover of less than €1 million in the preceding…

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…