Tax changes in our tax legislation – 9th July 2015

On 9 July 2015, the House of Representative enacted into laws a number of significant tax law proposals which were published in the Cyprus Government Gazette on 16 July 2015. The amendments to the Cyprus Tax Legislation are in an effort to improve the framework of the Cyprus tax system and improve Cyprus’ competitiveness in attracting foreign investments.

We briefly outline below the main provisions with respect to the various tax law amendments:

  • Income Tax Law
  • Capital Gains Tax Law
  • Special Contribution for Defence Law
  • Department of Lands and Surveys (Levy and Duties) Law

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Naturalisation of Investors – Council of Ministers Decision dated 19.3.2014

Naturalisation of Investors – Council of Ministers Decision  dated 19.3.2014

 SCHEME FOR NATURALISATION OF INVESTORS IN CYPRUS BY EXCEPTION on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013

A non-Cypriot citizen, who meets one of the following economic criteria (A), either personally or through a company/ companies in which he/ she participates as a shareholder – proportionally based on the percentage of participation,

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