Cyprus Non-Domicile Regime for Individuals
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...
CYPRUS: RE-DOMICILIATION OF FOREIGN COMPANIES
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...
Cyprus – Labour & Social Insurance
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...
Cyprus Film Scheme in Cyprus – Tax Incentives
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 Companies – General Obligations
Incorporating a Cyprus Company is an easy and fast procedure, but what about the obligations regarding tax and statutory reporting? It is very important for every company to comply with the local regulations in order to avoid penalties and investigations by the...
Cyprus company – Deductible expenses for income tax purposes
Here below we can find some points of the deductible expenses (excluded expenses) from the calculated income tax of a Cyprus company. Cyprus corporate income tax.Cyprus tax resident companies are taxed on their income arising from sources either within or outside of...
DTT between Cyprus and Kazakhstan has been signed
A Double Tax Treaty between Cyprus and Kazakhstan has been signed and ratified by Cyprus on the 15th of May 2019. Subject to the finalisation of the various legal procedures involved, the DTT is expected to enter into effect from 1 January 2020. Dividends:The DTT...
Cyprus Investment Programme – Valid From 15th May 2019
One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage foreign direct investment and to attract high net worth individuals to settle and conduct their business in Cyprus. Key factors that make Cyprus an attractive...
Cyprus Ministry of Finance presents draft EU Anti-Tax Avoidance Directive
Introduction The Cyprus Ministry of Finance has presented a draft bill implementing the EU Anti-Tax Avoidance Directive (ATAD) which aims to combat corporate tax avoidance and create a level playing field for businesses operating within the EU. The draft legislation...
Social Security and National Health System (GESY)
As from the 1st of January 2019 the Social Insurance fund contributions have been increased and as from the 1st of March 2019 a new contribution will be introduced for GESY – National Health System.