<h1 class="entry-title">Category: Info</h1>
25
Jan
As of November 23, 2022 the access to the Register of Beneficial Owners for the general public is suspended according to the Judgement of the Court of Justice of the European Union (CJEE). Following the above-mentioned Judgement of the CJEE, Article 1, point 15(c) of Directive (EU) 2018/843 of the European Parliament and the Council, […]
25
Jan
Please note that all Belize companies will need to be re-registered. The reason for the re-registration is due to the repeal in the IBC Act. These companies will now be governed under the Business Companies Act. This takes place from November 28th, 2022 when the registry re-opened. There is no transaction that will be processed […]
10
Jan
Virtual and physical offices in Cyprus Create a virtual office Opening a virtual office is possible for small companies that need to comply with the laws of Cyprus, but do not have a large budget. Thus, they can comply with the requirements while reducing their costs. Create a physical office Another option is to rent […]
10
Jan
Posted by manager
In Info
Tax incentives for highly qualified foreign professionals in Cyprus On July 14, the Cyprus Parliament approved important amendments to the Income Tax Law. Innovations provide for the provision of the following tax benefits to highly qualified foreign specialists: Employees who have been hired by Cypriot companies from 1 January 2022 will now be exempt from […]
25
Dec
Merry Christmas & Happy New Year 2023! We are sending you the warmest wishes of joy, happiness and love. May this holiday season be filled with light and laughter. May the holidays and the year ahead bring all the health, happiness and success to you an your loved ones.
26
Aug
Updating the Register of Beneficial Owners in Cyprus Definition of beneficial owner Pursuant to Section 2 of the Money Laundering Prevention and Suppression Act 2007-2021, hereinafter referred to as the “Law”, the “beneficial owner” of a legal entity is the natural person who has ultimate ownership or control over the legal entity. Ownership or control […]
26
Aug
Review the financial statements of some companies instead of an audit in Cyprus The House of Representatives voted on June 9, 2022 for the following amendment to the Companies Act: “Verification instead of audit of financial statements for companies whose net turnover does not exceed 200,000 euros and the total value of assets does not […]
22
Jul
Payment of temporary tax for 2022 in Cyprus In accordance with the Cypriot income tax law, all companies that will have taxable income for the 2022 tax year must file with the tax authorities by July 31, 2022 a temporary tax return form (T.D6). This form is based on estimated taxable income for the current […]
22
Jul
Cyprus Companies: Extension to the Annual Fee Payment for the year 2022 The Cyprus parliament on the 30th of June approved the extension of the deadline for the payment of the annual levy tax for the year 2022 to the Cyprus Registrar of Companies from 30th of June to 31st of December 2022. Methods of payment of […]
04
Jul
NON-DOMICILE STATUS IN CYPRUS In 2015, a special status began to operate in Cyprus for investors permanently residing in this country, the so-called “Non-Dom” (“not domiciled”). Obtaining this status allows a resident of the jurisdiction not to pay defense tax (DTT), as well as receive some other tax benefits. Who can get Non-Dom status? All […]
22
Jun
CySEC Circular C517 In addition to Circulars C489, C501 and C511, the Cyprus Securities and Exchange Commission (“CySEC”) wishes to draw the attention of regulated entities to the additional restrictive measures of the Council of the European Union (“EU Council”) that were introduced on June 3, 2022 against Russia in connection with its military aggression […]
12
May
The Cabinet of Ministers of Cyprus approved a new tax scheme for foreign professionals On May 10, the Cabinet of Ministers of Cyprus approved a new tax incentive scheme aimed at attracting foreign companies and highly skilled labor to the country. Under the new scheme, those highly qualified professionals who earn at least €55,000 per […]