The Tax Department announced a New Application Procedure. As of May 27, 2024, the submission of the affirmation for a Reduced VAT Rate of 5% on the purchase of a residence by first-time home buyers will only be done through the taxpayer portal TFA (Tax For All). Once the examination of the request is completed, […]
5% VAT for First Time Home Buyers: New Application Procedure Read More »
The Tax Residency status of a Company is undeniably an issue of great importance. It determines the country in which tax will be levied over any Corporate profits and any tax benefits available under applicable double-tax treaties. Until now, Cyprus used the ‘Management and Control’ test to determine whether a Company should be considered a
Setting up a Cyprus Company? New Incorporation Test for Company Tax Residency Read More »
When starting a business, many entrepreneurs overlook an important early step: Registering their trademark. This can protect them in a lawsuit, provide constructive notice of their ownership, and create a brand that stands out. An increasing number of people decides to start their own business. If you belong in this category of individuals, you need
Is It Worth Getting A Trademark For Your Business? Read More »
As part of the Cyprus Government’s efforts to encourage IT and technology companies to headquarter their operations in Cyprus, further tax benefits have been introduced for Companies investing in Research and Development. This is in addition to the introduction of a new regime for the employment of Third Country Nationals in Cyprus and the Personal
It’s no surprise that Cyprus is an emerging start-up ecosystem. The low corporate tax rate (12.5%), sunny weather (over 300 days a year) and the fact that Cyprus is an EU Member State are some of the benefits aspiring entrepreneurs can benefit from when starting up their business on the Mediterranean island. In this article,
What Makes Cyprus an Emerging Start-up Ecosystem Read More »
National rules and regulations governing succession and inheritance matters vary significantly from one country to another. Especially with the free movement of people across the EU, regulation of such matters was necessary at the EU level. Accordingly, in 2012 the European Union (EU) introduced Regulation 650/2012 in an effort to simplify cross-border succession procedures, i.e.,
EU Cross Border Succession Regulation Read More »
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