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Marios Pampakas

Head of Corporate & Administration

 

marios@xpertadvice.com.cy


T: +357 25258925

  

Alerts/ News

October 12, 2016

Cyprus has introduced the concept of Non-Domiciled individuals for tax purposes. The primary objective of the Non-Domicile concept is to set Cyprus as the ultimate choice of destination for both EU and non-EU persons wishing to move their personal tax residency in Cyprus. 

Foreign individuals who wish to move their personal tax residency in Cyprus, will be considered as non-domiciled in Cyprus for a maximum of 17 years. For tax purposes, non-domicile persons who become Cyprus tax residents will now be completely exempt from Special Defence Contribution tax ("SDC") on dividends and interest.

Contact us for free consultation and to provide you with more information.

July 27, 2016

Cyprus approves tax incentives to boost start-up sector

The Cyprus government has approved a package of tax incentives to boost both the start-up sector and innovation in Cyprus, but the measure will come into force after it is approved by the Cyprus Parliament.

The package includes a 50% tax exemption on investments in innovative and start-up companies with a maximum annual exempted amount of €150,000 to boost the entrepreneurship and innovation in Cyprus.

This exemption rule follows practices that have been implemented in many other countries to boost the entrepreneurship and innovation sector and it covers both an investment in an investment fund as well as an investment made directly to a company either managed by a natural or legal person.

Contact us for free consultation and to provide you with more information.

July 14, 2016

Property tax for 2016 to be at 25% of price in 1980

The Cyprus Parliament accepted a proposal that the property tax for 2016 will be the 25% of the taxable payable amount calculated based on the applicable rates and the price of the property in 1980. Payments will be received up to October 31, and if the payment is made between November 1 and December 31 the rate will be raised to 27.5%.

If the payment is filled after December 31 there will be a 10% additional fee added to the price calculated on November 1 and December 31.

The Cyprus Parliament also approved a proposal for the complete abolition of the property tax in 2017.

Contact us for free consultation and to assist you for the settlement of the property tax.

May 08, 2016

Cyprus Companies annual levy 2016

All companies registered in Cyprus need to settle the Registrar of Companies' annual levy for 2016 until 30th of June 2016. The annual levy is €350 and should be settled only through JCCSmart website.

Contact us for free consultation and to assist you for the settlement of the annual levy

March 22, 2016

De-registration of Cyprus Companies from the Registrar of Companies' database

All companies registered in Cyprus need to comply and submit their annual returns together with the relevant financial stratements to the Registrar of Companies until 31st of October 2016. Any company that will not comply will be automatically de-registered from ROC database.

Contact us for free consultation and to assist you with the compliance with ROC requirements

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