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Government Bilateral Agreements
Bilateral agreements between Cyprus Government and Iranian Government have been recently signed in order to open the horizons of new ...
Foreign companies can be active in Cyprus
New legislation has been recently enacted providing that a foreign registered company can move their registered offices and the place of ...
Legislations
Recommendation A
Based on the endeavors of the Cyprus Government to offer correct and high standards services to the investors, they have prepare and they ...
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Taxation in Cyprus
Pensions
Pensions are transferable to Cyprus. Again, Cyprus tax is very much lower than in other countries. Up to Euros 3.400= 0% Euros 3.400 + 5%
Company Tax and Corporation Tax
Cyprus in one of the lowest taxed countries in the World and the least taxed amongst the EU members. Due to this, its good infrastructure and favourable double taxation treaties with numerous countries (40), the island has become one of the most reputable offshore centres, with the establishment of over 17,000 foreign companies (named International ...
Double Taxation Agreements
Cyprus has signed tax treaties with the following countries: Armenia India Slovakia Austria Ireland South ...
Immovable Property Tax
Remember that prior to the conclusion of the transfer, you should pay all outstanding immovable property taxes and produce the receipt to the Land Registry. The annual immovable property tax is calculated on the market value of the property as at 1st January 1980. Market value euros ...
Capital Gains Tax
ALLOWANCES The following allowances are available to individuals: I. The first Euros 17,000 of gains arising from the disposal of any property. II. The first Euros 25,629 of gains arising from the disposal of agricultural land by a farmer (subject to certain conditions). III. The first Euros 85,430 of gains arising from the disposal of a house used by the owner for ...
Value Added Tax (VAT)
As from 1/1/2003 the VAT rate became 15% on specific goods and services. Real Estate was excluded from VAT but this is about to change. A law has been approved by the Cyprus Parliament imposing a 15%VAT charge on all new property, provided the initial application for a building permit was made after the 1/5/2004. All buildings that received a building permit prior to this ...
Refund from the Cyprus Government
Any buyer that has purchased property which is bearing VAT he has the right to claim a refund of approximate 10% of the VAT(15%) subject to the following regulations: 1. To be a first time buyer in Cyprus (first property in Cyprus) 2. To be a permanent resident of Cyprus
Council Taxes
Council Taxes are payable to the Council at which your property is listed at the end of each year. The said taxes are due to be paid by you once you get the delivery of the property and not prior to that. Council Taxes are of the approximate amount of EUROS 400= per year average depending always at which Council your property is listed.
