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Government of Cyprus

Cyprus Fully Integrated into Schengen Information System

September 6, 2023September 6, 2023Michalis C. ZambartasCyprus, Schengen, Schengen Information System, SIS

As of 25 July 2023, Cyprus is fully integrated into Schengen Information System (SIS) which is used for border management and internal security in Europe. SIS supports the exchange of
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Beneficial Owner
Compliance

Deadline to Submit the Beneficial Owners Data to the Register of Beneficial Owners

September 4, 2023September 12, 2023Michalis C. Zambartasbeneficial owner, Cyprus, dealine, Register of Ultimate Beneficial Owner, registrar of companies, Ultimate Beneficial Owner

On 1st of September 2023, the Department of Registrar of Companies and Intellectual Property announced that; “All companies that have been incorporated or registered according to Companies Law Cap. 113,
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Religious marriage
Family Law

Mandatory Conciliation Application for Dissolution of Religious Marriages in Cyprus Goes Electronic

July 18, 2023September 20, 2023Michalis C. ZambartasCyprus, mandatory conciliation application, marriage, online, Orthodox Church of Cyprus

The Orthodox Church of Cyprus announced that starting from 1st May 2023, a mandatory conciliation application for the dissolution of religious marriages in Cyprus will only be accepted electronically through
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Employment Law

Cyprus – Social Insurance Fund Contributions to Increase

July 6, 2023July 10, 2023Michalis C. ZambartasContribution, Cyprus, increase, rate, Social insurance, Social Insurance Fund

As of January 1 2024, the rate of contribution to the Social Insurance Fund will increase. Employers and employees will be required to contribute an additional 0.6% of their insurable
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Shipping Cyprus
Shipping

Cyprus Flag Ranked 8th in Paris MOU White List

June 30, 2023June 30, 2023Michalis C. ZambartasCyprus, Cyprus Flag, Flag, ParisMOU, performance, ranking, white list

On 14 June 2023, Paris MOU published a press release announcing the new performance lists for flag States and Recognized Organizations (ROs). These lists will take effect on 1 July
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Government of Cyprus, VAT

Update – Changes to the Reduced VAT Regime on First Homes

June 2, 2023June 2, 2023Michalis C. Zambartas5%, Cyprus, EU Commission, First home, Reduced VAT, VAT

The House of Representatives of Cyprus is set to vote today, 02 June 2023 on a bill for amendments to the reduced VAT regime on the purchase and construction of
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cryptocurrency
Compliance, Financial Services, International Tax

European Union Finance Ministers Agree on New Tax Transparency Rules for Crypto Asset Transaction Facilitators Serving Clients Resident in the EU

May 18, 2023May 18, 2023Michalis C. ZambartasAutomatic Exchange of Information, crypto, crypto asset, Crypto-assets Regulation, digital currency, EU Commission, MiCA, tax transparency, Transfer in Fund Regulation

On 16 May 2023, the European Commission published a press release announcing that the EU Finance Ministers agreed on new tax transparency rules for all service providers, which are based
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permanent residency permit
Citizenship, Immigration

Relocation of Highly Skilled Employees in Cyprus: an update in Numbers

May 5, 2023May 5, 2023Michalis C. ZambartasBFU, Cyprus, employees, Foreign Interest Company, high tech, highly skilled, Invest Cyprus, Israel, Lebanon, Russian, Ukrainian

According to Invest Cyprus, the national agency to attract foreign investment, since the commencement of the war in Ukraine nearly 9000 highly skilled Ukrainians were granted residence and work permits,
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VAT
VAT

Cyprus to Apply Zero Per Cent (0%) VAT on Basic Items

May 3, 2023May 3, 2023Michalis C. Zambartas0%, consumer, Cyprus, food, reduced rate, VAT, zero per cent

On May 2, 2023, the Cyprus Council of Ministers (Cabinet) approved a Decree to amend the VAT legislation to apply zero (0%) per cent VAT rate on certain consumer goods
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Citizenship, Immigration

Cyprus Revises Permanent Residency Permit Regulations Granted to Non-EU Nationals by Way of Investments

May 2, 2023May 3, 2023Michalis C. ZambartasCyprus, investments, non-EU nationals, permanent residency, permanent residency permit

Once again, the Cyprus Government revised the criteria regarding the expedited process of granting an immigration permit to applicants who are nationals of third countries and invest in Cyprus. The
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Recent Posts

  • Cyprus Fully Integrated into Schengen Information System
  • Deadline to Submit the Beneficial Owners Data to the Register of Beneficial Owners
  • Mandatory Conciliation Application for Dissolution of Religious Marriages in Cyprus Goes Electronic
  • Cyprus – Social Insurance Fund Contributions to Increase
  • Cyprus Flag Ranked 8th in Paris MOU White List

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