Expected Immigration Changes for Non-EU Family Members

The European Court of Justice on 07.09.2022 has clarified that the family members of EU citizens, who come from third countries, may not fall under the scope of temporary residence, as it is established in the Directive 2003/109/EC (the Long-term Residents Directive, or LTRD), such as seasonal workers or students. Therefore, they can directly submit the application […]

Additional Corporate Tax Residency Test – our remarks

On 21.12.2021, amendment 193(I)/2021 to the Income Tax Law has been published in the Official Gazette of the Republic of Cyprus by adopting an additional test for determination of corporate tax residency based on the incorporation principle. The new amendments will come into force on 31 December 2022. It provides that any company having its […]

The Changes in the Minimum Wage in Cyprus

On 31.08.2022 the decree on the minimum wage has been adopted during the meeting of the Council of Ministers, which will be implemented under Article 3(1) of the Minimum Wage Law, Cap 183 as from 01.01.2023. New Minimum Wage Within first six months of employment in the Republic of Cyprus the minimum wage will be […]

Recent changes in immigration permits for non-EU nationals

IBCCS TAX Cyprus immigration permits category A B C D E F tax residency

On 27 May 2022, the Cabinet of Ministers approved the list of amendments to the regulations governing immigration permits for third country nationals by virtue of The Aliens and Immigration Law (Cap. 105) and The Aliens and Immigration Regulations.The amendments concerning self – employed foreigners, employed foreigners, foreign investors and foreign investors with sufficient means […]

Personal Income Tax Return 2021

According to the announcement by the Tax Department of Cyprus on 08 April 2022, Personal Income Tax Return (Form T.D.1) for the tax year 2021 is now accessible for electronic submissions through the Tax Portal TaxisNet. The tax return (Form T.D.1) is addressed to employees, pensioners, and to self-employed individuals (Form T.D.1 self-employed) with turnover […]

New legal framework for Permanent Residency by investment in Cyprus

Cyprus Permanent Residency by Investment IBCCS TAX

The Cypriot government recently announced certain amendments to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, which became effective on the 24th of March 2021, in an effort to further attract foreign investment to the island and to aid economic recovery and further economic growth. Investment criteria The applicant must make an […]

Expatriate tax relief for employment in Cyprus extended

On 15 December 2020, an amending law was published in the Official Gazette of the Republic which relates to Article 8(21) of the Income Tax Law. The purpose of the amendment is to extend the application of the 20% or €8,550 (whichever is the lower) tax exemption for remuneration from employment which is exercised in […]

Jak obostrzenia związane z pandemią wpływają na regulacje dotyczące rezydencji podatkowej na Cyprze?

Ponieważ obecna sytuacja zmusiła rządy do podjęcia bezprecedensowych środków (ograniczenia w podróżowaniu, kwarantanna itp.), pojawiają się problemy dotyczące interpretowania skutków podatkowych w razie nieplanowanego czy też przedłużonego pobytu w danym kraju. Zwłaszcza osoby, które spotkał „lockdown” w kraju, który nie jest ich krajem rezydencji (w tym podatkowej), np. na Cyprze, czy w Polsce, mogą mieć […]

Impact of COVID-19 measures on the tax residence status in Cyprus

Last week the Tax Department issued a Circular along with the Implementing Instructions[1] on the application of the provisions on tax residence and permanent establishment in the context of the circumstances of the pandemic. Cyprus is following the guidance called “Analysis of Tax Treaties and the Impact of the COVID-19 Crisis” issued by OECD in […]

Tax certificate for Cyprus residents – is it worth to apply for?

As a general rule, individuals who spend at least 183 days per calendar year in Cyprus are considered Cyprus tax residents. However, according to the “60-day rule” introduced in 2017, also a person who satisfies all the below conditions can become a Cyprus tax resident: residing in the territory of Cyprus for at least 60 […]