To ensure the quality of the services provided and the safety of travellers, the Cyprus Government has licencing regulations in place for the set up and operation of Travel Offices and Tour Operators in Cyprus. Travel Offices The Tourism and Travel Offices and Tourist Guides Law (41(I)/1995) (the “Travel Office Law”) regulates the licensing and […]
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The Registrar of Companies announced that the implementation of the Final Solution of the UBO Registry in Cyprus will take place in October 2023. Following the implementation of the Final Solution, a period of one (1) month will be given for confirmation and completion of the information submitted in the current UBO registry system (of
Cyprus Companies UBO Registry: Final Solution Read More »
The House of Representatives of Cyprus recently passed a new legislation to regulate and encourage certain strategic investments in Cyprus. What is a Strategic Investment The legislation introduces a mechanism for classifying an investment as ‘strategic’. In particular, an investment may be classified as strategic if: Other provisions of the legislation include the establishment of
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In accordance with EU regulations and in an attempt to encourage and facilitate home ownership in Cyprus, a tax break was introduced on the purchase of new residential property for first-time home buyers in Cyprus. Current Scheme Cyprus VAT Tax Law provides for the imposition of 19% VAT coefficient on the purchase of newly built
Reduced 5% VAT Coefficient: First-Time Home Buyers Read More »
As of July 2000, the rights of the employees in Cyprus in cases of transfer of undertakings, businesses or part thereof, are safeguarded and regulated by ‘the Safeguarding and Protection of Employees Rights in the Event of the Transfer of Undertakings, Businesses or Parts Thereof Law (104(I)/2000)’ (the «Law»). The Law applies to the transfer
Transfer of Undertakings or Businesses: Safeguarding Employees’ Rights Read More »
As of 02/05/2023, the criteria to obtain a Permanent Residency by Investment in Cyprus have been revised and updated. These changes are part of the Government’s wider revision of the country’s immigration policies. Minimum Investment Required The minimum investment remains unchanged at €300,000 in property or in a company based in Cyprus employing at least
New Criteria: Cyprus Permanent Residency by Investment Read More »
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