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Implementation in January 2022 On the 15th of October 2021, the Cyprus government announced a new strategy for attracting businesses to Cyprus. https://www.youtube.com/watch?v=cHGO0rsJjKY Amendment of the International Business Companies policy for Companies that will be part of the newly established Business Facilitation Unit: Salary/position-based categories of employment (Directors, Key Personnel, Specialists) will no longer apply and a general Minimum salary of €2.500 is introduced for all highly skilled employees, provided that they have the required academic skills or at least 2 years of experience. The validity of the residence and work permit can be up to 3 years. Maximum number…

According to the Cyprus Income Tax Law, all Cypriot tax resident companies that expect to have taxable income for the year 2021, must proceed with the submission and payment of the provisional tax for the year 2021 in two equal installments before, or on, the following dates: 31 July 2021 – Payment of 1st instalment31 December 2021 – Payment of 2nd instalment It is noted that, the final tax liability for the tax year 2021 should be settled by 1st of August 2022. We remind you that the corporate tax rate is 12.5%.    The late submission of the return and the late payment of…

https://www.youtube.com/watch?v=adKx4hbUCR8 Cyprus, with its strategic location, great accessibility and excellent infrastructure, in combination with the numerous government incentives, is a prestigious tax-incentive EU financial center. Cyprus has substantially implemented the international agreed tax standards and is included in the 'White List' of OECD. The numerous Double Tax Treaties concluded with other countries, offer tremendous possibilities for international tax planning through Cyprus. It should be noted that Cyprus is one of the few countries in the world that has concluded tax treaties with Eastern European Countries. Tax Incentives of Cyprus Companies Corporation tax rate 12.5%, lowest in Europe Established wide network…

Third Country Nationals Obtain a Temporary Residence and Employment Permit by Investing in the Share Capital of a Foreign Interest Cyprus Company What is a Cyprus Foreign Interest Company? Cyprus companies with foreign interest are companies duly incorporated in the Republic of Cyprus, with the majority of shares held by non-EU nationals Check your Company’s Eligibility: Companies of foreign interests must meet the following criteria to be eligible to employ third country nationals in Cyprus: Third country shareholders should own the majority of the company's shares The ultimate beneficial owner must invest at least € 200.000 in Cyprus, for the purposes of operating the company. The…