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 […]

Notification of Dissolution of Religious Marriages

Amendment on legislation for Notification of Dissolution of Religious Marriages As a result of modernisation, the Cyprus family law has recently been amended. The previous legislation stated that in order to proceed with divorce proceedings of a religious marriage the potential applicant of divorce must first send a letter to the competent bishop stating his/her […]

Reduced VAT of 5% on first homes

Reduced VAT of 5% on the purchase of first homes On the 8th of June 2023, the Parliament approved a legislation allowing the imposition of a reduced VAT rate of 5% for the first purchase of a home residence, which is applicable to detached houses and apartments. The basic legislation is amended so that the […]

Road traffic accident or workplace accident? – insurance lawyers – claim your compensation

If you have been involved in a road traffic accident or workplace accident that was not your fault, you are entitled to compensation for the damages that you have sustained because of that accident. Type of Damages The damages that the injured person can claim are Special Damages and General Damages. What are the Special […]

New criteria for immigration permit for investors

The Cyprus Government has implemented from May 2nd the revised criteria for immigration permit for foreign investors. The revised criteria have been approved with the aim to institutionalize a control mechanism to efficiently monitor the investor in covering the criteria and maintaining the investment in Cyprus. Two European countries, Portugal and Ireland, ended similar programs […]

Limited Liability Shipping Company (LLSC) – Cyprus’ ‘’one – stop – shop’’ framework in shipping sector

In October 2022 a new legislation was adopted by the Parliament of Cyprus, the Law on the Shipping Limited Liability Company” of 2022 (the “SLLC Law”) which provides a new form of limited liability company the Limited Liability Shipping Company (LLSC) with the sole purpose of owning and operating ships/vessels under the Cyprus flag. The […]
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