General Healthcare System (GHS) Contribution Increase
As per the National Health System Law of 2001 89(I)/2001 and as amended in 2017, a national health system was introduced in Cyprus aiming to provide to the population equal access to a holistic health care system. Contributions to the GHS are deductible from the employer’s taxable income and of the individuals’ taxable income. The […]
ECONOMIC SUBSTANCE REGULATIONS
New regulations in key offshore jurisdictions including the British Virgin Islands, Cayman Islands, Bermuda, Guernsey, Jersey and Isle of Man, Marshall Islands came into force at the beginning of 2019 which require entities carrying on specific types of business to demonstrate adequate economic substance in that jurisdiction, with reporting requirements commencing in 2020. The rules […]
New Penalty Fees by the Cyprus Registrar of Companies
Below is the list of charges that will be in force on 18 December 2019 in case of late registration. FOR COMPANIES 1. Transfer of Shares: Any transfer of shares of a private company with a share capital shall be notified to the Registrar of Companies within fourteen (14) days from the registration […]
EU General Data Protection Regulation
On Friday, May 25th, the new EU regulation for personal data processing takes effect. Personal data relates to any type of personal information that can be used to establish an identity, either directly or indirectly, like: a person’s name, passport number, e-mail address, place and date of birth. Personal data protection aims to protect the […]
