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International Investor Protection Initiative The Cyprus Securities and Exchange Commission (CySEC) is participating in World Investors Week, a global campaign to educate and protect investors. By participating in World Investor Week, CySEC wants to educate the investing public about the types of risks lurking in this sector, and also emphasizes the importance of educating the […]
Upcoming CbC filing deadlines We would like to remind you that December 31, 2021 is the deadline for filing the following Country Reporting Obligations (“CbC”) in Cyprus: • Submission of CbC reports for the reporting fiscal year 2020 (for groups of multinational companies with a year-end of December 31, 2021). • Submission of CbC notices […]
Employment in Cyprus – new changes The Cyprus Council of Ministers has issued a set of rules published in the Official Gazette of the Republic of Cyprus on 3 September 2021, which announces that the application of the 2017 Social Security Rules will enter into force on 13 September 2021. Regulations on social insurance 2010 […]
Tax agreement between Saint Vincent and the Grenadines and the UAE in force According to a recent update by the UAE Ministry of Finance, the income tax and capital tax agreement between Saint Vincent and the Grenadines and the United Arab Emirates entered into force on March 3, 2020. The agreement, signed on November 26, […]
Cyprus introduces new tax measures as part of a national recovery and resilience plan On July 26, 2021, the Council for Economic and Financial Affairs (ECOFIN) approved the Cyprus National Recovery and Resilience Plan (RRP). The RRP sets out measures to be supported by the Recovery and Resilience Fund (RRF). RRF is supported by NextGenerationEU, […]
Information system “ERGANI” comes into force in Cyprus The Cyprus Ministry of Labor, Social Security and Social Insurance recently announced that the corresponding 2017 Social Insurance Regulations (Regulation 167/2017) will enter into force on 13 September 2021. The main changes are as follows: 1. An application for registration of an employer must be submitted no […]
Extended deadlines for the submission of tax returns and payment of the final tax as per the relevant income tax return In accordance with the Ordinances dated July 30, 2021, certain tax periods have been extended in accordance with the dates below: November 30, 2021 Electronic submission of the personal income tax return for 2020 […]
How are crypto assets regulated in Cyprus? On January 10, 2020, EU Directive 2018/843 entered into force in Europe, and all Member States were required to implement the Fifth Anti-Money Laundering Law (AML). On 23 February 2021, Cyprus amended its Law on the Prevention and Suppression of Money Laundering and the Financing of Terrorism 188 […]
Types of entry visas to Cyprus A visa is an official permission to cross certain geographic boundaries under predetermined conditions. There are several types of visas: transit, short-term, long-term, as well as individual and group. Each visa has its own characteristics and conditions for obtaining the right. Our team is ready to take on all […]
What is European Economic Interest Group (EEIG)? The European Economic Interest Group (EEIG) makes it much easier for its members to cooperate in the European Economic Area. For example, members can use their EEIG to develop collaborative activities that would be too costly on an individual level, or to concentrate funds and know-how in order […]
How can you immigrate to Cyprus? If you want to obtain a residence permit in Cyprus and are ready to invest in the economy of the state, you can apply for a permanent residence permit (Category F) in the standard procedure. So you can get permanent residence in 1 year. To be eligible to participate, […]
Cyprus Electronic Money Institution (EMI) The Central Bank of Cyprus acts as the regulator for all matters related to electronic money in Cyprus. Who can issue electronic money? Banks. Cooperative credit institutions. Electronic money institutions. EMI, once established and properly licensed, can offer its services in all EU member states on a cross-border basis without […]