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Welcome to our 5 minute tax update broadcasted monthly. The aim of our tax webcasts is to provide a brief summary of local and international tax events impacting Cyprus.

In this article, Savvas Savvides answers some frequently asked questions about the issue of tax residence in Cyprus.

On October 30, 2024, UK Chancellor Rachel Reeves introduced a budget that brings substantial changes to the taxation of high-net-worth individuals (HNWIs).

Cyprus's 2026 tax reform introduces a 10% charge on disguised dividends, targeting previously informal arrangements where shareholders use company assets for private purposes. The charge applies to the full market value of assets like company cars and properties, creating significant tax exposure for owner-managed businesses that were previously operating under unreported arrangements.

Aviation experts will say a country's gold standard for registering aircraft, be it commercial or private, is high regulatory standards, a high level of service, a quality reputation, and an attractive simplified tax regime.

Trusts are highly versatile instruments which can be used for a wide variety of purposes to achieve specific goals. In simple terms, the common law Trust is structured as a triangular relationship where the ...

The new proposals take into consideration best practices from other European countries and aim to establish Cyprus as a Sustainable Business and Trade center of the broader Middle Eastern region and Europe.

In November and December 2021, the Cyprus House of Representatives passed the following amendments that will affect companies located or operating on the island.

A non-dom is someone who lives in a country but does not have the same domicile as that country. Once an individual is born in a particular country they automatically become domiciled in that country...

According to the Income Tax Law, the term "resident of the Republic" includes – in addition to persons who reside for 183 days in Cyprus – persons who...

Individuals trading in cryptos are subject to PAYE tax as any self employed person would be taxed.

As an EU member state, Cyprus offers a pleasant climate, adequate infrastructure and a convenient geographical location. There are two main airports which provide frequent flights to most European cities...

As Cyprus continues to attract global investors and professionals seeking a stable and vibrant European base, the Cyprus Permanent Residency Program remains a cornerstone for those looking to establish a foothold in the Mediterranean.

We also offer Nominee and Management Services (Substance requirements) along with bank account opening and international tax planning.

Technology and innovation are the future and the Republic of Cyprus has been taking positive steps to ensure that it will be at the forefront in these areas.

Through IC 53, the Tax Department introduces new guidelines with respect to the tax treatment of Real Estate Developers and Contractors ("REDCs"), as from 1 January 2022.