A Guide to Registered Alternative Investment Funds in Cyprus

Setting up Alternative Investment Funds and Registered Alternative Investment Funds in Cyprus allow investors to conduct business through a fund without the daily management required of other company structures. This type of structure along with the favorable tax regime of Cyprus enables investors to raise more capital and High-Net-Worth-Individuals to financially benefit from this alternative method of […]

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NFTs: Business Trends & Legal Uncertainties

The future of NFTs seems bright and promising. NFTs are evolving into an asset class that, at its core, serves as the world’s greatest digital evidence of ownership. As NFTs grow, their role as digital proofs of ownership will provide innovative and lucrative use cases for future digital economies. While digital art and collectibles presently […]

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Permanent Residency in Cyprus

Cyprus is a small EU member state country but the third largest Island in the Mediterranean Sea with a population almost one million. Whereas Greek is the official language, English is widely spoken and the language in which business is generally conducted. Read the full report HERE For more information please contact us at: [email protected]

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Cyprus introduces transfer pricing rules and documentation requirements

On 30 June 2022, the Cyprus Parliament enacted amendments to the Income Tax Law and the Assessment and Collection of Taxes Law in relation to transfer pricing regulations in accordance with recommendations of the Organisation for Economic Co-operation and Development on Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (OECD TP Guidelines). The laws […]

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New 50% and 20% income tax exemption on employment income to attract foreign investors and employees

On 26 July 2022, the new amended articles 8(21) and 8(23) of the Income Tax Law were published in the Gazette aiming to attract foreign investors and high-profile foreign employees. Similarly with the 20% exemption, it is not required for the individual to become a Cyprus tax resident to benefit from the new 50% exemption, […]

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Green Funds: Business Trends & Regulatory Developments

A growing number and class of investors is shifting towards sustainable and ESG-compliant markets and products. Environmental and social considerations are assuming a growing importance, with the EU focusing its efforts to the greening of the economies of its Member States. In today’s publication, our Partner Dr. Charis Savvides and Associate Gregores Fylaktou are examining the framework around Green […]

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Provisional Tax Payment For 2021 Corporation Tax – 1st Installment Deadline End Of July 2021

You are required to calculate the 2021 Corporation Tax of your company and to proceed with the prepayment of the 2021 Corporation Tax in two instalments as follows:– by the 31 July 2021, and – by the 31 December 2021 If you do not prepay at least 75% of the Corporation Tax in these two […]

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Cyprus Intellectual Property (IP) Box Regime

The IP regime in Cyprus is compliant with international developments. It follows the guidance of the IP income and OECD on tax treatment. The IP regime has been thoroughly assessed and approved as fully compatible with EU standards. 80% of the profits qualifying for the IP box regime are exempt from tax. With a corporate […]

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New Rules for Foreigners as to Employment & Residence in Cyprus

New conditions regarding nationals of the third countries who have the right to be employed or reside in Cyprus, when they are investors or self-employed or even employees The Council of Ministers in Cyprus passed new regulations allowing immigration permits to be granted to foreigners who fall into the following categories: (a) Self-employed foreigner: has the […]

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The increased interest of Israeli investors in the Cypriot Residential Real Estate Market

The last few years have been extremely challenging and unstable for the World Economy. Covid-19 had a major impact on the markets, costs and investments. Cyprus, of course, was no exception and with specific reference to the residential real estate market, the sudden abolishing of the “Citizenship by Investment Program”, according to which the acquisition […]

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Appointment of a provisional liquidator pending a winding up petition of a Company-More flexibility than the past

 The appointment of a provisional liquidator to a Company could be considered as a decisive and very serious development to the operation of the Company.  That’s why if there is an alternative way to anticipate the risk of alienation of assets throughout the issuance of a discovery order or a freezing order, the appointment of […]

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