Cyprus Launches Blue Card for High-Skill Talent in EU Migration Push
The Republic of Cyprus will issue a Blue Card to highly skilled workers from third countries coming to Cyprus for employment, according to a draft law approved by the Council of Ministers on the 17th of January 2024. The legislation aligns Cyprus with the relevant…
Citizenship Qualifications: Amendments to the Population Registry Law
The recent amendments to the Population Registry Law introduce changes to the citizenship qualifications, particularly focusing on naturalization processes. The key provisions can be summarized as follows: Article 111 – Citizenship by Naturalization: Article 111B – Qualifications for Naturalization: Article 113 – Revoking Citizenship Status:…
EU’s 15% Minimum Corporate Tax Impact
From January 1, 2024, the European Commission enforced a minimum corporate tax rate of 15% for multinational companies earning annual revenues of €750 million. However, in Cyprus and some other countries the implementation of this measure might be delayed by several months. The Ministry of…
Cyprus Permanent Residency Permit 2023
Cyprus, strategically positioned at the crossroads of three continents and a member of the European Union, offers an attractive opportunity for investors seeking a permanent residency permit. This permit, governed by Regulation 6(2) of the Aliens and Immigration Regulations, provides a secure solution for those…
Cyprus International Trusts
A Cyprus International Trust stands out as a highly appealing option for safeguarding assets and wealth. It draws its strength from the firmly established principles of equity and trusts rooted in English law, contributing to the creation of one of the world’s most attractive legal…
The Cyprus Non-Domicile Tax Regime
The primary objective of the non-domicile regulations is to encourage affluent individuals to relocate to Cyprus, utilizing it as a hub for their businesses and establishing substantial business operations there. Regarding Taxation and the Definition of Cyprus Tax Residents: Cyprus Tax Residents are obligated to…
Amendments On The 50% Tax Reduction
An amendment to Article 8(23A) of Cyprus income tax legislation was published in June 2023, with retrospective effect from January 1, 2022. The changes affect eligibility for a 50% income tax exemption for first employment in Cyprus. Notably, the amendment allows individuals who haven’t worked…
Double Tax Treaty Between Cyprus and Jordan
A treaty for avoidance of double taxation (the “Treaty”) between Cyprus and Jordan was signed on 17 December 2021 and was published in the Official Gazette on 31 December 2021. The Treaty entered into force on 11 April 2022 and its provisions will enter into…