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June 8, 2020
General Overview for a Will in Cyprus
Although it is not mandatory to create a will in Cyprus, it is nevertheless recommended in order to avoid any misunderstandings and complications, especially in regard to immovable property. The Law in Cyprus about Wills Cyprus has adopted the Forced Heirship regime, whereas the testators do not have the total freedom to distribute their estate...
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Provides tax incentives for reduced rent
On 2 June 2020, an amending Income Tax Law was published in the Official Gazette with respect to tax relief on rental income. The amendment was voted to support the Cyprus economy following the COVID-19 outbreak and provides a tax incentive to landlords (individuals or companies) to voluntarily reduce the rent charged to tenants. According to...
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