The Ministers Council approved recently certain changes in the criteria for companies to register as foreign interest companies in Cyprus. These changes are valid from the 12th of December, 2022. The changes aim to attract companies, their employees, and their…
On 17/1/2023, the Cyprus Tax Department announced that the gradual implementation of the new Unified Tax Management System Tax For All (TFA) has already begun, which aims to gradually replace (among others) the TAXISnet platform and in the future…
In December 2022, an amending law on the Protection of Salaries was published in the Official Gazette of the Republic of Cyprus, which includes new terms regarding the employer’s obligations in matters relating to personnel, payroll and other issues….
General Healthcare System and Social Insurance contributions in Cyprus for the year 2023 will remain the same as in 2022. Contributions Employee Employer Self Employed Social Insurance 8.3% 8.3% 15.6% Social cohesion Fund 2% Redundancy Fund 1.2% Industrial…
On October 6, 2022, the Cyprus Shipping Deputy Ministry (SDM) announced that the “Law on the Shipping Limited Liability Company” of 2022, also known as the “SLLC Law,” had been approved by the House of Representatives. The SDM, with its…
The dates listed below are Bank and Public Holidays in Cyprus for 2023. On these dates, all public services, private companies, banks, and shops are closed, although many shops and certain services remain open in some areas, busy shopping…
Second instalment of temporary tax by 31st of December 2022. All Cyprus companies that have inventory must perform an annual stock take.
25/11/2022 After the debate of whether AML regulations can come in conflict with GDPR regulations for EU citizens, the European Court of Justice issued a judgment dated 22/11/2022 that (quoted from the press release) “…the general public’s access to information…
Based on legislation passed in February 2021, all transfers and sales of immovable property and/or shares of a company which is not listed on any recognized Stock Exchange and that directly or indirectly owns immovable property, a fee of…
Cyprus: The Deputy Ministry of Tourism announces that all self-catering accommodations (on AIRBNB, BOOKING.COM and other platforms) should be registered in the relevant registry of the Deputy Ministry by 06/02/2023. According to the relevant legislation, in order to be…