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VAT on Immovable Property

February 21, 2018

Following the amendment of the VAT legislation with regards to the imposition of VAT on the sale of building land and immovable property leasing, the Cyprus Parliament and the Tax Department have released Regulations and Circulars clarifying the applicability of VAT imposition on non-developed land as well as on commercial rents taxation.

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Cyprus Investment Scheme – update

February 21, 2018

Following on from the September 2016 revision of the Cyprus Investment Scheme (CIS) program qualification criteria, the Cyprus government, following the recommendations of investcyprus.org (the government investment promotion agency) has taken a step towards establishing a “soft regulation” for the program’s stakeholders. 

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Cyprus Investment Firms (CIF)

July 27, 2017

The Cyprus Investment Firms Law 144(I) 2007-2012 (the“Law”) provides the legal framework for the provision of investment services as well as for the registration, regulation of operations and supervision of Cypriot Investment Firms (CIF).

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Alternative Investment Funds (AIF)

June 27, 2017

In July 2014 the House of Representatives approved the enactment of the Alternative Investment Funds Law of 2014 (the “AIF Law”). The AIF Law aligns the Cypriot Investment Funds legal framework with the recent developments in the EU, particularly with the EU Alternative Investment Fund Managers Directive (the “AIFM Directive”), in conjunction with the Alternative Investment Fund Managers Law of 2013 (the “AIFM Law”).

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Tax Incentives for Expatriate and High Net Worth Individuals relocating to Cyprus

October 5, 2016

In light of the shifting international tax landscape and the challenges raised, businesses and HNWI are focusing on streamlining their operations, asset base and tax residency, cautiously considering the jurisdictions that offer them the most optimized and efficient status.

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