<h1 class="entry-title">Category: News</h1>
26
Sep
CYPRUS WILL NOT CANCEL THE PREFERENTIAL VAT WHEN PURCHASING REAL ESTATE The standard rate of VAT, that is, value added tax, is 19%. However, for the first new property with an area of up to 200 m², VAT could be reduced to 5% through a tax deduction. Let us recall that previously the area of […]
13
Sep
VAT 5% on housing in Cyprus: innovations Parliament almost unanimously approved the bill on VAT on primary housing. According to the bill, for the main (first) housing – a house or apartment, which a citizen of the country or a foreigner purchases on the island, a VAT of 5% per 130 square meters will apply. […]
13
Sep
Investor visa: new rules The new Minister of Interior, Constantinos Ioannou (former Minister of Health), said that the permanent residence investment program requires changes to fill gaps in existing rules. The minimum investment amount has remained unchanged and is 300,000 euros. Investments are possible in real estate or in a company in Cyprus that employs […]
26
Aug
Temporary Tax for 2023 – 1st Instalment Effective Payment Deadline: 31 August 2023 We would like to remind you that the effective payment deadline for the 1st provisional tax instalment for the tax year 2023 is the 31st August 2023 and the submission of the expected income for the year in the Tax Portal and […]
22
Aug
The deadline for submitting a personal income tax return for 2022 and paying tax NEW DEADLINE: OCTOBER 2, 2023. We inform you that in accordance with the Decree of June 9, 2023, the following deadlines have been extended until October 2, 2023: ☑️Electronic filing of the 2022 personal income tax return by employees and retirees […]
21
Aug
Visitor visa in Cyprus (Pink Slip) The temporary residence permit in Cyprus “Visitor” (so-called Pink Slip) allows citizens of countries outside the European Union to obtain a residence card and reside in Cyprus. The right to work in the presence of such a visa is not provided. A feature of this visa is that under […]
30
Mar
Nevis vs Gibraltar: which is better for business? We’ve compared business conditions in Saint Kitts and Nevis and Gibraltar. Find out which one offers better benefits and is more suitable for you. Saint Kitts and Nevis There are a lot of advantages of incorporating a company in Nevis. Firstly, the owners can be of any nationality […]
03
Mar
New legislation for SVG forex companies Please note that St. Vincent and the Grenadines Financial Services Authority (SVGFSA) recently adopted a new policy. According to the memorandum published on January 6, 2023 on their official website, the following requirements are introduced: Companies wishing to engage in FOREX business must provide a certified copy of the […]
03
Mar
How to open a company in Cyprus Establishing a virtual office Establishing a virtual office is suitable for small companies. This might be the right way for you if you need to fulfill substance company requirements in Cyprus but don’t have a large budget to spend. They can be in compliance while reducing their costs. […]
28
Feb
Second provisional tax instalment for 2022 We would like to remind you that the 31st of December 2022 is the submission deadline for a revised (where needed) provisional tax calculation for 2022 and the payment deadline for the second provisional tax instalment for 2022. Provisional tax payment obligation The following should re-consider whether they should […]
28
Feb
NEW ADDITIONS TO THE EU LIST OF NON-COOPERATIVE JURISDICTIONS FOR TAX PURPOSES On 14 February 2023 the EU decided to add four more countries to the EU list of non-cooperative jurisdictions for tax purposes. The goal is to promote fair tax competition and deal with harmful tax practices. These countries are: British Virgin Islands, Marshall […]
01
Feb
Tax incentives for highly qualified foreign specialists approved in Cyprus. On July 14 the Cyprus Parliament approved important amendments to the Income Tax Law. They introduced provision of significant tax benefits to highly qualified foreign specialists. In particular, employees who were hired by Cypriot companies from January 1, 2022 will now be exempt from paying […]