News - Evagoras Anastasiou Law Firm

Companies of Foreign Interests in Cyprus and the employment of Third Country Nationals

Companies of Foreign Interests in Cyprus and the employment of Third Country Nationals. Essential Information You Should Be Aware Of! A company registered in Cyprus is permitted to hire nationals from third countries, as long as specific conditions and requirements are met. Eligibility criteria of a Company to employ third country nationals: For a Cyprus […]

Understanding the 5% reduced VAT scheme for property purchases

Understanding the 5% reduced VAT scheme for property purchases in Cyprus. When acquiring a new property in Cyprus, the buyer is required to pay the applicable VAT charge of 19% on the purchase price. However, according to Law 42 (I)/2023, Cyprus offers a scheme that reduces the VAT rate to 5% for property purchases, provided […]

Cyprus is joining the Schengen Zone: Why is this significant for third country nationals living in Cyprus with a residence permit?

Cyprus is joining the Schengen Zone: Why is this significant for third country nationals living in Cyprus with a residence permit? In addition to Ireland, Cyprus is one of just two EU member states that do not participate in the passport-free travel area known as Schengen Zone. On Sunday, May 11, 2025, the President of […]

The end of the UK non-domicile regime: Cyprus is the compelling alternative

The end of the UK non-domicile regime: Cyprus is the compelling alternative The United Kingdom is set to eliminate the Non-Dom Regime; therefore, it is an opportune moment to consider Cyprus. The Elimination of Non-Dom Status in the UK and Its Consequences. The UK government announced on 30 October 2024 that the non-dom regime will […]

Cyprus is the ideal destination for technology companies

Cyprus is the ideal destination for technology companies Cyprus is acknowledged as an attractive destination for registering a company due to the multitude of benefits offered by the island’s corporate and taxation frameworks. CYPRUS INTELLECTUAL PROPERTY BOX REGIME Countries implement IP Box or Patent Box regimes to incentivize research and development in relation to intellectual […]

End of the corporate annual levy obligation

End of the corporate annual levy obligation On the 21st of February 2024 the Council of Ministers of Cyprus has decided to abolish the corporate annual levy of 350 EUROS. The decision will be effective from this year. From 2011 all companies registered in the Register of the Registrar of Companies had an annual obligation to […]

EU Blue Card for high skilled foreign workers

EU Blue Card for high skilled foreign workers. In January 2024 the Government of Cyprus has approved a bill for the issue of a Blue Card to highly skilled workers from third countries coming to Cyprus for employment. This legislation aligns with the EU directive of the Blue Card that affords non-EU highly qualified individuals the privilege to […]

Cyprus Golden Knowledge Programme

Cyprus introduced the ‘’Golden Knowledge Programme’’ to attract tech talent to the island. The Cyprus government has approved in November 2023 the Golden Knowledge Programme easing the rules for granting Cypriot citizenship to internationals. The aim of this programme is to encourage the retention of skilled workers and stimulate economic growth in Cyprus through a fast-track citizenship […]

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