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LGBTQ rights in Cyprus – interesting facts

LGBTQ rights in Cyprus – interesting facts In this article, we will explain how LGBT and gender issues are regulated in Cyprus. In Cyprus, the following is legally fixed: In Cyprus, the following is legally fixed: Since 2015, same-sex marriages have become civil unions. Civil partnership agreements provide the same rights as marriage, unless otherwise […]

Updating the Register of Beneficial Owners in Cyprus

Updating the Register of Beneficial Owners in Cyprus Definition of beneficial owner Pursuant to Section 2 of the Money Laundering Prevention and Suppression Act 2007-2021, hereinafter referred to as the “Law”, the “beneficial owner” of a legal entity is the natural person who has ultimate ownership or control over the legal entity. Ownership or control […]

Payment of temporary tax for 2022 in Cyprus

Payment of temporary tax for 2022 in Cyprus In accordance with the Cypriot income tax law, all companies that will have taxable income for the 2022 tax year must file with the tax authorities by July 31, 2022 a temporary tax return form (T.D6). This form is based on estimated taxable income for the current […]

NON-DOMICILE STATUS IN CYPRUS

NON-DOMICILE STATUS IN CYPRUS In 2015, a special status began to operate in Cyprus for investors permanently residing in this country, the so-called “Non-Dom” (“not domiciled”). Obtaining this status allows a resident of the jurisdiction not to pay defense tax (DTT), as well as receive some other tax benefits. Who can get Non-Dom status? All […]

CySEC Circular C517

CySEC Circular C517 In addition to Circulars C489, C501 and C511, the Cyprus Securities and Exchange Commission (“CySEC”) wishes to draw the attention of regulated entities to the additional restrictive measures of the Council of the European Union (“EU Council”) that were introduced on June 3, 2022 against Russia in connection with its military aggression […]

Citizen Incentives

Citizen Incentives Employees who are third-country nationals will have the right to apply for naturalization after five (5) years of residence and work in Cyprus, or after four (4) years if they hold a recognized certificate of strong knowledge of the Greek language. The transfer of social security contributions will also be ensured through intensified […]

Tax Benefits for Employees in Cyprus

Tax Benefits for Employees in Cyprus Extension of the tax exemption applicable to employees in Cyprus:             – Income tax exemption of 50% for new residents and employees with an income of at least €55,000 with the possibility to extend the benefit from 10 – 17 years; potential beneficiaries of the allowance are persons with […]

Revised Policy for the Employment of Third-Country Nationals

Revised Policy for the Employment of Third-Country Nationals Applicable to employees of foreign companies operating in Cyprus or foreign companies wishing to establish a presence in Cyprus.  Issuance of temporary residence and employment permits in Cyprus.             – Applies to third-country nationals with minimum gross salary of €2,500, provided that they possess a university diploma or […]