Cyprus will be joining the Schengen Information System on July 25th, 2023 after having been positively assessed and following decades of efforts. This means that Cyprus will be able to exchange information with other member states, enhancing its ability to prevent and investigate crime. It will also make it easier for Cyprus to manage and…
As statutorily required, Cyprus-registered companies must pay an annual company fee at the Department of the Registrar of Companies (RoC) every year. For the year 2023, the fee is payable at the latest by 30th June 2023. The annual fee, as in previous years, is set at Euros 350,00 / company and the fee…
Cyprus is the European Union’s fastest-growing technology hub. Not only tech companies benefit from Cyprus’s business and lifestyle advantages. Many international companies that do business in Cyprus, the Eastern Mediterranean region, or globally consider Cyprus to be a stronghold. A growing number of international corporations are choosing Cyprus as their regional or global headquarters. Cyprus…
Do you want to establish tax residency in Cyprus? This article covers how to acquire tax residency in Cyprus. For ascertaining Cyprus tax residency, the “183 days rule” applies where individuals are tax residents in Cyprus if they spend more than 183 days in the calendar year in Cyprus. Individuals are also considered tax residents…
The Court of Justice of the European Union’s (CJEU) decision in the related cases C-37/20 and C-601/20 on 22nd November 2022, prompted the Registrar of Companies to make the following announcement on 28th November 2022, which states that access to the Register of Beneficial Owners will no longer be open to the public as of…
With its Decision of 15th October 2021, the Council of Ministers approved the introduction of the Digital Nomad Visa Scheme in Cyprus, with a ceiling of 100 residence permits to be issued. WHAT IS THE “CYPRUS DIGITAL NOMAD VISA The “Cyprus Digital Nomad Visa” Scheme allows nationals from non-EU and non-EEA countries, who can perform…
As statutorily required, Cyprus registered companies must pay an annual company fee at the Department of the Registrar of Companies (RoC) every year. For the year 2022, the fee is payable the latest by 30th June 2022. The annual fee, as in previous years, is set at Euros 350,00 / company and the fee can…
What is IP Box Regime? IP Box Regime (known also as a patent box, innovation box or IP box) is a corporate tax regime used by many countries to incentivize research and development activities by taxing revenues deriving from licenses, royalties, patents, sale or transfer of qualified IP assets differently offering lower taxes compared to…
What are Holding Companies? In simple terms, Holding Companies are companies that do not offer a product of services but exist for the sole purpose of owning and controlling other companies via share majority; they are usually found within a Group of Companies as the Parent entity of the other Subsidiary companies. As such, their…
The Eastern Mediterranean is an evolving superyacht destination. The boundaries of this region encompass some of the most diverse and culturally significant countries on earth. The limit for many superyachts is often somewhere near Antalya on the coast of Turkey. Many more yachts pass through on their way to transit the Suez Canal. Lying at…
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