Cyprus Naturalisation Update

Cyprus Naturalisation Update

May 23rd, 2024 Further to the fact that the legislation maintains the necessity for standard applicants to naturalisation to be of good character, to be self-sufficient financially, to have the intention to stay in the Republic, and to have a certificate of basic...
Cyprus Naturalisation Update

Off-EU List

March 11th, 2024 Belize, the Seychelles, Bahamas, and the Turks and Caicos Islands have been removed from the list of non-cooperative tax jurisdictions of the European Union. This update took place on February 26th, 2024, with the Seychelles and the Turks and Caicos...
Cyprus Naturalisation Update

Levy Deleted

February 23rd, 2024 Acting upon the need to bring in a positive note amid US/UK/EU sanctions affecting the corporate sector whose long-term client has been no other than the Russians, Cyprus abolished the €350 annual levy of on companies on February 21rst. The...
Cyprus Naturalisation Update

DAC 7 Reporting

January 18th, 2024 DAC 7’s purpose is to tax non-reported income arising from digital platforms, including penalty fees at the discretion of member states for users that do not comply, and to apply automatic exchange of information between member states on this issue....
Cyprus Naturalisation Update

Decreasing SDC on interest

January 9th, 2024 On December 6th, 2023, the SDC rate on passive interest income earned by Cypriot tax resident individuals and companies was reduced from 30% to 17%, through an amendment to the Special Defence Contribution (‘SDC’) Law by the Cyprus Parliament. The...