On the 14th of October 2016, the House of Representatives approved legislative provision amendments to the current Income Tax Law whereby the new amendments will correlate the Cyprus IP Box regime (taxation of royalties) with the OECD and are effective as from 30th of June 2016. The recent tax legislative amendments brings solidity when reckoning taxation on royalties and facilitates investors to more accurately forecast their future tax projections. Furthermore, the new leg

On the 4th of August 2015, after lengthy negotiations, the first double tax agreement between Cyprus and Iran was signed. As with many of Cyprus' recent double tax agreements, it broadly follows the 2010 Organisation for Economic Cooperation and Development (OECD) Model Tax Convention. The agreement covers taxes on income only; including income tax in Iran and corporate income tax, the special contribution for defence and capital gains tax in Cyprus. The DTT provides for wit

Non-EU nationals who buy property in Cyprus for personal occupancy are able to obtain a permanent residence permit, enabling their full or part time stay in Cyprus. The Cyprus Permanent Residence Permit has been in existence for a number of years and the criteria, as well as the process, have been recently amended to make the procedure simple and attractive for those looking to obtain residency. The authorities have created a fast-track process which enables the final approva

​​​​​​ Cyprus is becoming more compliant than ever before and as a jurisdiction has done its best to work in parallel with regulatory authorities locally and abroad. Due to Cyprus being the international financial service hub that it is, it is imperative for those using Cyprus as a part of their business structure to work in collaboration with existing regulatory frameworks. It's no secret that governments across the globe have struggled to ensure that they are collecting all