On the 21st of November, the Parliament approved the amendment of the Prevention and Combating of Money Laundering Law of 2007 L.(188(I)2007).

The Ministry of the Interior announces the receipt and examination of applications for naturalization submitted in accordance with the provisions of the Population Record (Amendment) Law of 2023.

In a significant development, the Council of Ministers during their Session on February 21, 2024

The Council of Ministers, during their Session on 21/04/2023, approved a proposal from the Ministry of the Interior for the revision of the criteria

The Tax Department informs that, according to the Central Agency for the Equal Distribution of Burdens (No. 2) Law of 2022 (L172(I)/2022) published on 18/11/2022, the Superintendent of Taxation is responsible for the enforcement and collection of a 0.4% fee for the purposes of the Central Agency for the Equal Distribution of Burdens.

We are pleased to inform you that our firm's partner, Mrs. Agathi Nikolaou, is now officially registered and licensed as a Mediator in Cyprus. Thus, our firm is now offering Mediation services, as Mediators or Advocates of a Party in Mediation.

As of the 15th of July 2022, the Cyprus House of Representatives, approved an amendment to the Income Tax Law, regarding the exemptions of employment income.

It is with pride that we announce our 10-year Anniversary Celebration.

Substance is considered as a significant element in tax planning

Come to booth 72 to meet and have a chat about your business, because we care about you and your business.

According the Cypriot legislation there is no restriction for a minor to hold shares in a Company.

The European Parliament and the Council, having in mind the fundamental right of each natural person for protection of its personal data which are being processed, the rapid technological developments and globalization, have adopted on the 27th April 2016 the General Data Protection Regulation, 679/2016/EC (the "GDPR"). This new legal framework on data protection aims to strengthen natural persons' control over their personal data and the free movement of data.

The Legal Entity Identifier (LEI) is a 20-digit, alpha-numeric code that enables clear and unique identification of legal entities participating in financial transactions and is needed by firms to fulfill reporting obligations under financial regulations and directives. A LEI code is assigned to a legal entity once off.

Below is a general summary of the Circular issued by the Cyprus Tax Department on back to back loan financing.

The House of Representatives has approved the amended VAT Act which imposes 19% VAT on the transfer of buildable land and the leasing of immovable property with the exception of property used as residence...

On 29 September 2017, the House of Representatives of Cyprus passed a law extending the deadline for submission of a claim for the payment of tax arrears from 3 October 2017 to 3 January 2018.

The Cyprus Parliament has unanimously approved an amendment to the Income Tax Law which now allows an individual to be considered a tax resident in Cyprus provided that the individual does not stay in any other state for one or more periods which exceed 183 days in the tax year...

Regulations for Safety and Health at Work of 2017 (Health Surveillance). The new regulations define the obligations of employers, examining doctors, as well as the obligations and the rights of employees.

The Tax Authorities have announced that in the near future all VAT refunds will be made electronically via bank transfers and no longer will cheques be issued for such refunds.

Recent amendments have been made to the VAT Act concerning the right to appeal a decision of the Tax Authorities regarding VAT. Specifically, taxable persons can submit a hierarchical appeal to the Tax Tribunal, within 45 days from the date of notification of the Commissioner's decision to the applicant...

The Cyprus Parliament approved the Law for the Protection of the Paternity in July 2017, which is in effect as from 1st August 2017. This Law enters the term of the protection of the paternity for the first time in Cyprus' legal system, since before this Law, a father was only eligible to unpaid paternity leave.

The Cyprus Parliament approved the amending Law 116 (I) 2017, which amends the basic existing Law 100 (I) 1997 for the protection of the Maternity, and it is in effect as from 1st August 2017.

The Cyprus Parliament has unanimously approved an amendment to the Income Tax Law which now allows an individual to be considered a tax resident in Cyprus provided that the individual does not stay in any other state for one or more periods which exceed 183 days in the tax year, the individual is not tax resident in any other state for the same tax year and the following conditions are met....