May 6, 2020

Yacht Leasing Scheme Cyprus

Cyprus enjoys a favorable tax system in line with the EU requirements and OECD principles. In order to qualify under the Cyprus Yacht Scheme the applicant must incorporate a Cyprus company and lease out the yacht through that company provided that the applicant satisfies the following requirements, instead of buying the yacht outright and paying the full VAT on the transaction, noting that the current VAT rate in Cyprus is 19%.

Requirements – Cyprus Yacht Scheme

  1. A lease agreement must be concluded between a Cyprus company and an individual or legal person, whereby the lessee is granted the option to purchase the yacht at a...

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