The House of Partliament has recently passed a new law that reduces the VAT from 15% to 5% as of the 1st of October for every purchase or erection of new residence premises. The applicant should be a physical person who is at least 18 years old and also a citizen of the Republic of Cyprus or [...]
Cyprus Citizenship to wealthy Individuals and Investors
November 25, 2011 By
Usually acquisition of Cyprus citizenship was connected with the duration of residency while being employed in Cyprus and according to family relations. A recent decision from the Council of Ministers, allows High net worth individuals or investors to receive the Cyprus citizenship through naturalization if the below criteria are met: The applicant must be over [...]
Company Law Amendment-Law117(I)/2011
October 13, 2011 By
Recently there was an amendment of the Company law – Law117(I)/2011 in which all the registered companies to the Cyprus Department of the Registrar of Companies are obliged to pay an annual levy of 350€ according to the following process. - Existing registered companies, according to the provision of the law are obliged to a [...]
European Commission requests Cyprus to modify discriminatory rules on car taxation
January 27, 2011 By
The European Commission has formally requested Cyprus to amend its legislation which gives more favourable tax conditions to Cypriot citizens, nationals and descendants than to other EU citizens when it comes to import and excise duties for imported new passenger cars. The request takes the form of a ‘reasoned opinion’. If, within two months, there [...]
Cyprus Corporate Tax
December 22, 2010 By
Cyprus-An International Business Center in Europe
December 22, 2010 By
Cyprus is among the most important International Financial and Business centers world-wide. The official language of Cyprus is Greek although English is very commonly used. The area of the island is approximately 9.251m2 with a population of nearly 1 million.Cyprus is located in the East Mediterranean Sea and is positioned at the cross point of Europe, Asia and Africa right across the Suez canal.
Cyprus Mutual Funds-International Collective Investment Schemes
December 3, 2010 By
With the registration of a Cyprus Fund -International Collective Investment Scheme, and by providing the required services and facilities for the incorporation of investment companies, classifies Cyprus once again as among of the major International financial centres worldwide.
Cyprus – A Major Jurisdictional Contender for Holding Companies
December 2, 2010 By
