A new and accelerated procedure for granting Immigration Permit to applicants who are third country nationals and intent to invest in the Republic of Cyprus came into force. According to the provisions of Regulation 6(2) of the Aliens and Immigration…
Eligible companies All companies of foreign interest (International Business) should fulfil the following conditions in order to obtain the approval to employ third country nationals in Cyprus: The majority of the company’s shareholders have to be foreign. In case the…
Statutory obligations Annual general meetings A company must hold its first annual general meeting (AGM) within 18 months of the date of incorporation. Thereafter, an AGM must be held each year and the time between them must not exceed 15…
JUNE 2015 Department of Land and Surveys Law and the Stamp Duty Law provide for the abolition of fees in certain cases On 11 June 2015 the Cyprus Parliament approved amendments to the Department of Land and Surveys (Fees and…
Cyprus has traditionally been a significant destination for the setting up of international business companies (IBCs) Factors which are taken into account in choosing Cyprus include the following: Safe jurisdiction of keeping assets through Cyprus IBCs triggers the provisions of…
Legal Form of Company Limited Liability Company (Ltd), according to Cyprus Company Law. Under the law, companies are separated into tax-resident and non-tax-resident companies. Incorporation of Company This is through your consultant in Cyprus. Only lawyers can set up a…
On Saturday, 18 April 2015, the Parliament voted in favour of the five bills that constitute the Insolvency framework. The Insolvency framework is an essential prerequisite for the smooth continuation of the implementation of the Cyprus economic adjustment programme which…
This special tax may apply only to tax residents of Cyprus and is imposed on:- Interest; Dividend; and Rental income; In 2015 the notion of Domicile was introduced into the Special Defence Contribution Tax. With this introduction Cyprus tax resident…
Contributions % 2019 2018 Employer 8,3 7,8 Employee 8,3 7,8 Social insurance contributions are restricted to a maximum amount that is usually increased annually. The maximum amount that applies for 2019 is €54.648 (weekly €1.051/monthly €4.554). Other employer’s contributions The…